Course Details

Project Risk Management and Compliance Training Course

INTRODUCTION

In today's fast-paced and highly regulated environment, managing risks and ensuring compliance in projects are critical for achieving business objectives. Project risk management is a systematic process of identifying, assessing, and responding to risks throughout the life cycle of a project. Simultaneously, compliance management ensures that all regulatory, legal, and ethical obligations are met, reducing the risk of sanctions or reputational damage. This course will provide participants with a solid foundation in both disciplines, ensuring they are equipped to safeguard their projects against risks and meet compliance requirements.

Project Risk Management and Compliance Training Course is designed to equip participants with the knowledge and tools needed to identify, assess, mitigate, and manage risks in projects, while ensuring compliance with relevant regulatory and legal standards. The course provides essential skills for managing project risks across different industries, enabling professionals to navigate the complexities of risk management and compliance effectively.

The Project Risk Management and Compliance Training Course provides participants with the skills needed to manage the dual aspects of risk and compliance in modern projects. By understanding the principles of risk management and ensuring regulatory compliance, participants will be better equipped to protect their organisations from potential project failures and legal pitfalls. Through practical exercises, case studies, and real-world scenarios, attendees will be empowered to implement effective risk management and compliance frameworks that drive project success.

DURATION

5 Days

TARGET AUDIENCE

This Macskills Development Institute training course is suitable to a wide range of professionals but will greatly benefit:

• Project managers, risk managers, and compliance officers
• Professionals in industries such as construction, finance, energy, IT, and healthcare
• Individuals responsible for overseeing projects and ensuring regulatory compliance
• Senior managers looking to enhance their organisation’s risk and compliance strategies

OBJECTIVES

By the end of the course, participants will be able to:

1. Understand Project Risk Management: Grasp the key concepts, processes, and tools of project risk management.
2. Identify and Assess Project Risks: Learn to systematically identify and evaluate different types of risks that can affect a project’s outcome.
3. Develop Risk Mitigation Strategies: Formulate practical strategies to mitigate and respond to project risks.
4. Ensure Regulatory Compliance: Understand compliance requirements and ensure that projects meet legal and regulatory standards.
5. Monitor and Control Risks: Use risk monitoring tools and techniques to track and control project risks over time.
6. Integrate Risk and Compliance Management: Develop an integrated approach to managing both risk and compliance in projects.
7. Navigate Ethical and Legal Issues: Understand the ethical considerations in project management and how to manage legal risks.

COURSE OUTLINE

Module 1: Introduction to Project Risk Management

• Definitions and Concepts of Risk in Projects
• Types of Risks: Financial, Operational, Technical, Legal, and External Risks
• The Project Risk Management Process: Planning, Identification, Assessment, Mitigation, Monitoring, and Control
• The Role of the Project Manager in Risk Management
• Common Challenges in Managing Project Risks

Module 2: Risk Identification and Analysis Techniques

• Risk Identification Methods: SWOT, Brainstorming, Delphi Technique, and Checklists
• Risk Breakdown Structure (RBS) and Risk Register Creation
• Qualitative Risk Analysis: Probability and Impact Assessment
• Quantitative Risk Analysis: Sensitivity Analysis, Monte Carlo Simulation, Decision Tree Analysis
• Prioritising Risks Using Risk Matrices

Module 3: Risk Response Planning and Mitigation

• Developing Risk Response Strategies: Avoidance, Mitigation, Transfer, and Acceptance
• Contingency Planning and Creating Risk Response Plans
• Budgeting for Risk Management
• Building and Maintaining Risk Reserves
• Examples of Risk Mitigation Strategies in Real-World Projects

Module 4: Monitoring and Controlling Project Risks

• Key Tools and Techniques for Risk Monitoring: Risk Reviews, Risk Audits, and Risk Reporting
• Risk Metrics and Indicators
• Continuous Risk Identification and Updating the Risk Register
• Early Warning Signs and Leading Indicators
• Project Closeout: Post-Mortem Risk Analysis and Lessons Learned

Module 5: Introduction to Compliance Management in Projects

• Defining Compliance in Project Management: Legal, Regulatory, and Contractual Compliance
• Key Regulatory Requirements by Industry (e.g., Construction, Energy, Financial Services, Healthcare)
• The Compliance Management Framework: Planning, Execution, Monitoring, and Auditing
• Identifying Non-Compliance Risks
• Creating a Culture of Compliance Within Project Teams

Module 6: Regulatory Frameworks and Compliance Standards

• Overview of Major Regulatory Frameworks (e.g., SOX, GDPR, OSHA, FCPA)
• Industry-Specific Regulations and Standards (e.g., ISO 31000, ISO 19600, Basel III)
• Understanding Key Compliance Terminology: Legal Obligations, Audits, and Due Diligence
• Creating a Compliance Checklist for Projects
• Case Studies: Compliance Failures and Their Impact on Projects

Module 7: Ethics and Legal Considerations in Projects

• Ethical Considerations in Risk Management and Compliance
• Understanding Legal Risks: Contractual Obligations, Liability, and Litigation
• Ethical Decision-Making Models for Project Managers
• Managing Conflicts of Interest and Ethical Dilemmas in Projects
• Protecting Against Fraud and Corruption Risks

Module 8: Tools and Technologies for Risk and Compliance Management

• Risk Management Software and Platforms (e.g., Risk Registers, GRC Tools)
• Tools for Risk Assessment and Risk Reporting
• Compliance Management Systems (CMS)
• Emerging Technologies: Blockchain, AI, and Automation in Risk and Compliance
• Best Practices for Implementing and Using Risk and Compliance Tools

Module 9: Auditing and Reporting in Risk and Compliance Management

• Conducting Internal Audits for Risk and Compliance
• Developing Key Performance Indicators (KPIs) for Risk and Compliance
• Compliance Reporting to Stakeholders: Board, Investors, and Regulatory Authorities
• Creating and Implementing Risk and Compliance Dashboards
• Case Study: Lessons from Real-World Risk and Compliance Audits

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com