The Ultimate Project Manager, Chapter 15: Managing Project Risks (RV-10439)
The process of identifying and managing the various types of project risks has become especially important in today’s business environment, where all parties jump to legal action as the first step in resolving any dispute. Unfortunately, the design firm, your organization, is in the center of almost every dispute. The purpose of this course is to provide you with the methods and tools you will need to identify, manage, and mitigate risks in your projects.
In this course you will learn about three fundamental elements that limit a firm’s liability for project risks:
Identifying all potential types of risk that could impact the project
Assigning the management of each type of risk to the party who is best suited to manage/control the risk
Implementing a risk management plan to manage and/or mitigate the risk elements of each risk assigned to the design firm
Business Practices / Contracts / HR
Health, Safety and Welfare
By the end of this course you will be able to:
Identify and describe how a project manager or team can identify potential problems and opportunities, mitigate potential problems, and maximize potential opportunities.
Identify and distinguish between the nine elements of a project that should be examined closely.
Select actions that you can take to evaluate risks in a project.
Select the behaviors that should and should not be used in risk management and any conflicts and disputes that arise.
Identify when management has made a logical decision to start a project based on an analysis of the balance between the potential risks and rewards of going through with the project.
Define professional liability and define the types of standards of care that can be expected of professionals who offer professional services and the origins and elements of professional liability.
Explain the owner’s role in establishing project risks.
Affirm typical components of a proposal and contract.
Select and summarize actions that can be taken to minimize risks when services are provided during the design and construction phases.
Define what a claim is and identify some common facts about claims.
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