Construction Risk Management Certification Training Course

Why Select this Training Course?

Most construction sites and projects are generally susceptible to different types of risks, such as health hazards and structural risks, that can cause fatal delays and catastrophes at any time. Hence, the job of all the project managers, in close cooperation with surveyors and engineers, is to determine the risks involved in a construction project before it starts. The Rcademy Construction Risk Management Certification Training Course aims to empower such essential professionals with the right skills to effortlessly and accurately pinpoint and manage all the possible risks in any construction project.

The course entails a detailed analysis of proper construction techniques, principles, and guides. Risks can invite quick financial frustrations when they materialise and develop into bigger problems. This makes risk management in construction the most important thing for any construction project. The participants will learn to evaluate, supervise, and control risk and gain proper expertise in assessment, monitoring, and risk control. This course will make participants experts in their organisations to manage all construction risk-related matters. The training will also focus on the building of information silos, project risks, schedule risks, legal risks, financial risks, safety risks and more.

• Providing adequate safety training
• Using personal protective equipment (PPE)
• Maintaining good housekeeping
• Using proper tools and equipment
• Creating a safety culture

Who Should Attend?

The Rcademy Construction Risk Management Certification Training Course offers substantial benefits to various groups of individuals, including but not limited to:

• Risk and compliance officers seeking to enhance their expertise in risk identification and mitigation.
• Audit officers aiming to expand their skills in identifying vulnerabilities more effectively.
• Construction project managers striving to proficiently manage projects with a focus on risk management.
• Senior management officers responsible for implementing robust risk management frameworks within their organisations.
• Construction workers prioritising safety and seeking to anticipate and address risks inherent in construction projects.
• Clients with construction projects desiring assurance that their contractors adhere to rigorous risk management standards.

What are the Course Objectives?

The primary objectives of the Rcademy Construction Risk Management Certification Training Course is to empower participants to:

• Gain a comprehensive understanding of the varying risk management processes and techniques.
• Learn how to effectively utilise different tools and techniques for managing risks.
• Become proficient professionals in understanding the concepts of risk appetite, tolerance, and escalation.
• Study and apply risk management models in detail to construction projects with effectiveness.
• Contribute to the development and credibility of their organisations by delivering high-quality risk reports and accurately predicting risks.
• Enhance client satisfaction by ensuring that all potential risks in construction projects are thoroughly identified and addressed.

How will this Course be Presented?

The Rcademy Construction Risk Management Certification Training Course is designed to exceed participants’ expectations and enhance their knowledge and skills. Renowned professionals with years of practical experience deliver this course content, ensuring its relevance and applicability. The modules are curated through in-depth, extensive research on the subject matter.

Participants benefit from a comprehensive mix of practical and theoretical learning experiences. They gain access to various resources, including slides, lecture notes, case studies, video presentations, and real-life adaptations. Interactive quizzes, seminars, and mock sessions enrich the learning process. A feedback platform is also available to ensure participants’ optimal satisfaction with the course content and delivery.

What are the Topics Covered in this Course? 

Module 1: Introduction to Risk Management

• Understanding risk management frameworks and their development
• Defining risk and its significance
• Importance of risk management in diverse industry context
• Methods for managing risks
• Formulating policies and strategies for risk management
• Establishing risk procedures, protocols, and architecture
• Exploring the benefits of risk allocation

Module 2: Risk Management Process

• Establishing context for risk management
• Risk ranking using the ranking matrix
• Techniques for risk identification and assessment
• Exploring cause-and-effect relationships in risk
• Methods for prioritising and analysing risks
• Understanding risk appetite, tolerance, and capacity
• Process for reviewing and monitoring risks
• Profiling risks for effective management

Module 3: Risk Governance

• Development of Risk Appetite Statement (RAS)
• Strategies employed in risk management
• Application of lines of defence model
• Ensuring seamless workflow in construction sites
• Addressing safety issues
• Risk reporting and data-driven decision-making
• Strategies for transferring project risks

Module 4: Risk Mitigation in Construction

• Adherence to international standards in construction risk mitigation
• Regulatory compliance and standards adherence
• Ensuring accountability and responsibilities
• Strategies for handling multiple risks
• Resource sharing among different risk types

Module 5: Types of Risks and their Management

• Understanding financial and environmental risks
• Importance of scheduling risks in projects
• Approaches for accepting project risks
• Management process for construction risks

Module 6: Identifying Construction Risks

• Timing of risk identification
• Risk assessment during preconstruction phase
• Brainstorming potential project risks
• Defining project scope
• Stakeholder engagement for risk identification

Module 7: Common Construction Risks

• Natural disasters
• Decision-making errors
• Orders management challenges
• Contractual issues
• Labour shortages
• Budget overruns
• Site uncertainties
• Damaged equipment
• Unexpected inflation in equipment cost (post-budget)
• Poor architectural designs
• Accidents and major injuries
• Scope deficiencies
• Equipment inadequacies

Module 8: Assessing Risk Exposure

• Techniques for risk identification and evaluation
• Developing an overall risk management strategy
• Planning for risk and contingencies
• Scenario planning for various risks
• Cost assessment and mitigation strategy
• Acceptance of unavoidable risks
• Continuous monitoring and revisions

Module 9: Construction Contracts

• Responsibilities of contractors and owners
• Dealing with delays and performance issues
• Governing law and contract assignments
• Payment procedures and subcontractor relations
• Insurance, bonds, and indemnity requirements
• Dispute resolution and project close-out procedures

Module 10: Construction Details and Associated Risks

• Subsurface conditions
• Design defects
• Equipment commissioning
• Property damage
• Site access issues
• Late instructions and designs
• Material suitability
• Labour disputes
• Environmental pressures
• Regulatory compliance

Module 11: New Trends and Emerging Technologies

• Building Information Modelling (BIM)
• AI, AR, VR, and robotics optimisation
• Drones and aerial imaging
• Modularisation and off-site construction processing
• Construction management software
• Environmental monitoring systems
• Risk transfer and insurance solutions
  • Parametric Insurance and Integrated Project Insurance (IPI)