RSKM101 – An Introduction to Construction Risk Management

Description

Type construction + risk into any search engine and you’ll find that there are few comprehensive entries. Construction is risky business; in fact, you could say that a construction project is all about undertaking and managing risk. But what is risk? What are the risks specifically faced during a construction project? How are they identified and categorized? How do they change depending on the perspective of the stakeholder? How does one assess the severity or probability of those risks? Most importantly, how are those risks then mitigated and managed?

A risk management plan begins by creating a comprehensive check list of various risks faced organized by category. Once a project is considered, a tailored list of possible risks is created and organized. Each risk is the assessed and analyzed in order to create a management and mitigation plan which may include various mitigation tools. The risk analysis tools are continually monitored and re-assessed to determine the real time outcome of the implemented plan.

What will the course cover?

• Definition of construction risk.
• Categories of risk.
• Risk from different stakeholder’s perspectives.
• Identification and discovery of risk.
• Risk assessment tools and processes.
• Strategic risk management planning and risk mitigation tools.
• Risk reassessment and monitoring.
• Risk allowances and contingencies.
• Implementation of risk management tools.

What will participants learn?

Upon successful completion of this course, participants will be able to:

1. Clearly define construction risk.
2. Identify and categorize several types of construction risk.
3. Assess risk potential.
4. Strategize and employ risk management and mitigation techniques.
5. Monitor and re-assess risk in real time.
6. Implement the use of risk management tools.

Intended Audience

Business owners, project managers, estimators, supervisors, field engineers and administrative staff

Speaker

Ralph Lembcke P. GSC., (full bio)

When learning to navigate the complex world of construction management, experience matters.    With over 40 years in the industry, R. Lembcke and Assoc. has facilitated quality construction management courses for post secondary students as well as industry professionals seeking continued professional development. Ralph is a member of the Construction and Design Educators Council of Canada and has taught in the construction technology program at Fanshawe College for over 20 years

Ryan Simmons, C.E.T, LEED AP, GSC (full bio)

Leadership and a focus on operational excellence is what drives Ryan Simmons in his position as the vice-president of operations for EllisDon Corporation in Southwestern Ontario. With more than 20 years of experience as a professional in the construction industry, Ryan is responsible for the overall execution of EllisDon's projects, including staffing, training, and risk management.

Related Info

Online discussions using a slide presentation will provide the basis of the course. Participants will be provided with various spreadsheet-based tools to use in the development of a strategic risk management analysis and mitigation plan. Risk assessment matrixes will be provided to assist registrants in risk analysis methods. Each unit will have practical exercises so that registrants will apply learned processes and methods immediately. A master risk registry tool will be provided to consolidate the process and registrants will be shown how to apply and use this tool. Registrants will occasionally work in groups to complete exercises and apply learning in a collaborative environment.

Unit one – Introductions, objectives, definitions and risk discovery

Unit two – Risk registry tool and risk assessment

Unit three - Risk mitigation processes and risk management tools

Unit four – Capstone project, contingencies, monitoring and reporting