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Course Title:

Course ID:

130524 0101 ADDS076PRA

Course Dates :

13/May/2024

 To

17/May/2024

Course Duration :

5

Course Location:

London

United Kingdom

Course Fees GBP £ :

Primary Price

£4,555.99

VAT may vary depending on the country where the course or workshop is held

Course Fees USD $:

Advisory Price

$5,829.37

VAT may vary depending on the country where the course or workshop is held

Course Category:

Professional and CPD Training Programs

Construction Management, Contract, Tendering, Budgeting, Estimating

Course Certified By:

* Professional Training and CPD Programs
Leading to : Executive Diploma Certificate
Leading to : Executive Mini Masters Certificate
Leading to : Executive Masters Certificate

* ESHub CPD
* LondonUni - Executive Management Training
* Others

United Kingdom

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.

Course Information

Introduction

Proper Cost estimating and budgeting is key for successful management of construction delivery.
However,
Most of construction projects -including international landmark projects- suffer from cost overruns.
This course will investigate the risk factors leading to this cost overrun.
It will investigate different categories of risks associated with the construction industry and its business environment.
The course will also cover the tools and techniques used for risk assessment and determination of risk response techniques.

Objectives

At the end of the course the attendees should be able to:
• Understand the major risk factors in the construction industry.
• Differentiate between the different systems and international standards covering risk management in general (ISO, PMI-RPM, DRMP, BS, etc)
• Understand the risk management definitions, processes, and domains.
• Understand the tool and techniques needed to manage different aspects of construction risks.
• Learn how to plan and implement risk response in the construction industry.
• Apply risk management processes, tools, and techniques on real-life seniors.
• Learn how to use risk management software in risk cost simulations.

Who Should Attend?

This course is targeted for:
• Managers and Engineers involved in analysis and decision making concerning cost estimating, budgeting of projects, bid preparation, bid analysis, project planning, project controls, construction management and construction delivery

Training Method

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a 7” Tablet containing a copy of the presentation, slides and handouts
• Post-assessment

Program Support

This program is supported by:
* Interactive discussions
* Role-play
* Case studies and highlight the techniques available to the participants.

Daily Agenda

The course agenda will be as follows:
• Technical Session 08.30-10.00 am
• Coffee Break 10.00-10.15 am
• Technical Session 10.15-12.15 noon
• Coffee Break 12.15-12.45 pm
• Technical Session 12.45-02.30 pm
• Course Ends 02.30 pm

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.

Week 1

Day One:

The construction industry - An overview
• Construction project phases from inception to closure
• Project Phases and cost estimating classes.
• Risk categories of major risks in the construction industry

Planning for risk management
• Reviewing the scope of work
• Defining data sources (construction documents, specifications, drawings, etc)
• Identifying relevant policies and standards to risk management.
• Establish metrics for risk management processes by defining baselines in order to evaluate performance.
• Defining risk tolerances and attitude of the stakeholders
• Assigning roles and responsibilities to the risk management team
• Define risk probability and impact matrix and control limits.
• Create the risk management plan.
Work Shop I: Risk management plan for a construction project.

Day Two:

Gathering Information and Identifying Risk Factors causing cost overruns
• Identify all relevant risks (positive and negative) using human and documented sources.
• Information gathering techniques.
• SWOT Analysis
• Identifying design risks
• Identifying construction risks
• Identifying Financial and Economic risks
• Identifying organizational / Internal risks
• Identifying customer related risks
• Identifying regulatory risks
• Identifying contractor / supplier risks
• Identifying planning and estimating risks
• Identifying delays / prolongation risks
• Identifying health, safety and environmental (HSE) risks

Day Three:

Risk Assessment and Analysis
• Assessing probability and impact of risks using historical information and expert judgment
• Evaluating and ranking risks using probability / impact matrix.
• Quantitative risk analysis using decision tree analysis.
• Quantitative risk analysis using Monte - Carlo analysis.
• Sensitivity analysis
• Fault tree analysis
• FMEA (Failure Mode & Effect Analysis)

Workshop II: Risk register with qualitative data

Day Four:

Workshop III: Cost -Risk analysis case-study using Pertmaster (Primavera Project Risk)

Risk Response Planning
• Risk response strategies for negative and positive risks.
• Responding to design risks and construction
• Responding to Financial and Economic risks
• Responding to organizational / Internal risks
• Responding to customer related risks
• Responding to regulatory risks
• Responding to contractor / supplier risks
• Responding to project management risks

Day Five:

Workshop IV: Updating the Risk register with appropriate responses.

Risk Monitoring and Controlling
• Implementing risk response plans
• Following-up risks during construction
• Risk reassessment and re-evaluation.
• Workarounds
• Risk auditing.
• Documenting lessons learned.
• Updating relevant risk databases

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.