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Risk Management for Infrastructure: How to Make Informed Decisions for Infrastructure Facilities at Organizational, Program and Project Levels

1.4 CEUs | Monday–Tuesday, September 23–24

Instructor

Jerry A. DiMaggio, P.E., D.GE, M.ASCE

Purpose and Background

Risk management can help technical professionals and managers make better and more informed decisions. The benefits of applying risk management principles and tools include savings in resources (both cost and staffing), accelerated schedules, fewer performance issues, reduced disputes, and improved organizational and stakeholder communication and consultation.

In today’s world, words like sustainability, service/design lives, asset management, and risk management receive increased attention and emphasis by infrastructure owners in the private and public sectors. However, these terms are not fully mainstreamed into practice nor applied to full potential by many organizations and individual professionals and managers.

Although the risk management process is mainstreamed into the culture and policies/procedures of many organizations, it has to a large degree, been underutilized, misapplied, and often misunderstood by many infrastructure managers and technical specialists. The focus of this 2-day workshop will enhance participant’s knowledge and confidence in the effective use of risk management principles and tools to better manage their respective roles and responsibilities to manage risks associated with infrastructure.

This highly interactive workshop presented by two knowledgeable and experienced engineers who are also risk management specialists will address the following topics:

  • Introduction to Risk Management and the risk management process
  • Risk Management Benefits, Limitations, and Misapplications
  • Types of anticipated organizational, programmatic, and project outcomes
  • Team Building and Development of Internal Champions for Risk Management
  • Developing Risk Registers
  • Prioritizing Threats and Opportunities
  • Implementing and Monitoring Risk Management Plans to meet specific goals and objectives
  • Qualitative and Quantitative Risk Management Tools
  • Communication, Consultation, and Documentation
  • Integrating Risk Management into an organization’s culture, policy, and processes

Seminar Benefits

Participants will learn how to:

  • Identify and examine potential opportunities and threats which may affect achieving goals
  • Effective and efficiently apply Risk Management principles within your areas of roles and responsibilities
  • Avoid costly over-runs of resources (cost and staff), scheduling delays, and incomplete success in meeting your goals (for your area of roles and responsibilities)
  • Avoid wasting resources on risk management plans that are not carried through implementation
  • Define success for risk management activities
  • When, how, and under what conditions risk management can be applied and implemented using internal staff and resources
  • Understand and interpret input and results from Risk Management computer tools

Learning Outcomes

The course will focus on helping participants to:

  • Understand and apply effective risk management processes within your organization
  • Be able to define specific strategies and outcomes at organizational, program, and project levels
  • Develop, apply, and communicate risk registers
  • Develop and learn how to implement risk management plans to optimize opportunities and mitigate threats
  • Learn how to write clear and accurate risk statements
  • Learn how to enhance team building and communication skills with internal and external stakeholders, and upper management
  • Learn how to define and quantify uncertainties (risks) related to cost, schedule, and quality

Assessment of Learning Outcomes

Learning objectives are achieved through case studies, class problems, classroom discussion, and a short post-test.

Who Should Attend?

Technical specialists (engineers from all civil engineering disciplines), contractors, material and product suppliers, and mid to upper level managers.

Seminar Outline

Day 1: 8:30 a.m. - 5:00 p.m. with a 1 hour lunch break

  • Introduction
  • Definitions of Risk
  • Risk Management Concepts
  • Risk Management Process
  • Qualitative and Quantitative Tools for Risk Assessment
  • Communication, Consultation, and Documentation
  • Identify Context and Establish Objectives
  • Identify Risks
  • Analyze Risks

Day 2: 8:30 a.m. - 5:00 p.m. with a 1 hour lunch break

  • Prioritize Risks
  • Respond to Risks
  • Monitor, Evaluate, and Adjust Plan
  • Summary and Course Assessment

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