218-Managing Project Risk

By: James N. Salapatas, PE, PMP

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Course Objective

This continuing education course is written specifically for professional engineers with the objective of relating to and enhancing the practice of engineering.

Course Description

This course is about managing project risk in an organization whether you are an engineer, senior manager or professional project manager. In the project world, managing risk is critical because every decision, every action taken contains some element of risk. Risk cannot be eliminated. Risk can only be controlled and accepted if the decision or action needs to be made. Understanding this concept becomes important when considering that practically everyone in an organization is involved in some kind of project work and makes decisions involving risk.

In the ideal project world, project managers are trained in project risk management. ¹In the real project world, many projects are small and assigned to engineers and managers with less than formal risk management training. Managing risks become critical to achieving project cost and schedule targets. This course presents three basic principles for managing project risk, namely, identify, quantify, and control. However, managing project risk still depends on experience and skill of the engineer or manager to identify, quantify and control the risk in order to manage it.

At the end of the course is a set of questions that highlights the take-aways for the reader to remember and use for managing project risk in their organization.

¹Project Management Institute, PMBOK — GUIDE Fifth Edition 2013 Project Risk Management, Chapter 11

Questions about this course? Email the Author: jnsalpts@comcast.net

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(4.6) 5 Reviews

218-Managing Project Risk

Martin R Parker Jr

02/21/2019

Verified Buyer

Good course to understand risk, identify it, and control the results.

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218-Managing Project Risk

Richard Job

07/12/2018

Verified Buyer

The course was a very good detailed account of the process.

1 of 1 customers found this helpful.

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218-Managing Project Risk

Benedict Inyama

12/12/2016

Verified Buyer

The course materials were spot on for covering the management of project risks. Very information.

1 of 1 customers found this helpful.

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218-Managing Project Risk

David N Ivester

11/11/2016

Verified Buyer

Great explanation of risk in project management. Thoroughly enjoyed it and learned many new things.

1 of 1 customers found this helpful.

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Solid course

John F. O'Brien

05/31/2015

Well done.... enjoyed the course

1 of 1 customers found this helpful.

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Course Code: 100240-02

Course PDH Hours: 3

Engineering Course Approvals

This course is accepted for engineering continuing education credit in all states except: New York

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218-Managing Project Risk

Course Objective

Course Description

Course Code: 100240-02

Course PDH Hours: 3

Engineering Course Approvals

Other Courses by James N. Salapatas, PE, PMP

Contact Us!