Construction Risk: Identify, Analyze, Mitigate

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 undertaking 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 mitigated and managed? 

A risk management plan begins by creating a comprehensive checklist 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 assessed and analyzed 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. 

This hands-on course will walk you through how to create a risk management plan. During each course session, you’ll work through applied practical exercises both on your own and in groups with fellow attendees. You’ll receive various spreadsheet-based tools to use in the development of a strategic risk management analysis and mitigation plan and risk assessment matrixes will be provided to help you in risk analysis methods. Finally, you’ll receive a master risk registry tool, and your instructor will teach you how to apply and use it.

Course content will cover: 

• Definition of construction risk

• Categories of risk 

• Risk from different stakeholders’ perspectives

• Identification and discovery of risk

• Risk assessment tools and processes

•  Strategic risk management planning and risk mitigation tools

•  Risk re-assessment and monitoring

•  Risk allowances and contingencies

• Implementation of risk management tools 

By the end of this course, you will be able to:

• Clearly define construction risk.

• Identify and categorize several types of construction risk.

• Assess risk potential.

• Strategize and employ risk management and mitigation techniques.

• Monitor and re-assess risk in real-time.

• Implement the use of risk management tools.

This course will involve on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. You will be expected to have your webcam on during the class and participate in group discussions and other activities with your instructor and classmates during the course.

Course hours can be used towards the Gold Seal Certification application for credits, subject to approval upon review. Note: every 6 hours of learning equals 1 Gold Seal credit.  

Delivery Method: Virtual Session – Zoom Meeting             

Course Fee Includes: Access to the course, course materials, and a digital certificate upon completion.  

This course is delivered in partnership with local and provincial construction associations across Canada. You will be participating with a group of industry peers from multiple regions.

Sharing a single registration between two or more individuals is not permitted. Please register each person that will be in attendance.

We recommend that students have some experience and knowledge in the topic of construction project management/administration.

Those with less experience are welcome to attend but may find it hard to appreciate the material without prior experience or context.

All construction industry stakeholders need to be aware of the concept of risk. Business owners, project managers, estimators, supervisors, field engineers will all benefit from this course. 

1. Computer or laptop

• • This course will involve on-screen interaction with your instructor and classmates, reading/viewing on-screen content (slides or videos), and interacting via typing with questions or responses. For this reason, cellphones may not be adequate. 

  • Windows 10 or Mac iOS. 

2. Webcam (Mandatory)– in order to engage and collaborate, participants will be expected to have their webcams on for the duration of the class

3. Microphone (Mandatory)

4. Internet connection- For best results, you will want to ensure you have an internet connection with an upload/download speed of 3-5 Mbps. You can test your internet speed here. The minimum recommended speed is 1.5 Mbps, but anything below 3 Mbps may result in loss of quality or buffering. Ideally hardwired connection versus wireless for stability - connect your computer directly to your router using an ethernet cable, rather than using your home wi-fi.

5. A quiet space with minimal distractions –The microphone will be engaged for interactive sessions. Please plan to be fully engaged in the class and clear your work schedule just as you would for the in-class program.

6. Comfortable chair