Course Overview
This course provides a practical framework for identifying, analyzing, mitigating, and monitoring risks in project environments while integrating compliance with regulatory, contractual, and ethical standards. Participants will learn how to embed risk and compliance into project governance, enhance decision-making, and ensure projects are delivered on time, within budget, and in line with stakeholder expectations and legal requirements. Real-world case studies and interactive exercises will reinforce best practices.
Course Objectives
Participants will be able to:
- Understand and apply project risk management principles across the project lifecycle.
- Identify and categorize risks using industry-standard frameworks.
- Design and implement effective risk response and mitigation plans.
- Align project delivery with internal policies, external regulations, and ethical guidelines.
- Build a culture of compliance and proactive risk awareness.
- Utilize tools and techniques for monitoring, reporting, and auditing project risks and compliance status.
Who Should Attend
- Project Managers and Team Leaders
- Risk Management and Compliance Officers
- Internal Auditors and Quality Assurance Professionals
- PMO (Project Management Office) Staff
- Legal, Regulatory, and Contract Managers
- Operational and Business Managers involved in project execution
Course Outline
Introduction to Project Risk Management
- Definitions and key concepts of risk in projects
- Risk vs. uncertainty
- Risk types: strategic, operational, financial, legal, environmental
- Overview of global standards (PMBOK, ISO 31000, COSO ERM)
Risk Identification and Categorization
- Risk identification methods (SWOT, Delphi, brainstorming, checklists)
- Creating a Risk Breakdown Structure (RBS)
- Developing the Risk Register
- Stakeholder perspectives on risk
Qualitative and Quantitative Risk Analysis
- Risk scoring and prioritization using impact-probability matrices
- Sensitivity analysis and expected monetary value (EMV)
- Monte Carlo simulation and decision trees (overview)
- Risk tolerance and appetite alignment
Risk Response Planning and Implementation
- Designing response strategies: avoid, reduce, transfer, accept
- Developing contingency and fallback plans
- Allocating risk responsibilities (RACI matrices)
- Integration with schedule and cost baselines
Compliance Fundamentals in Project Environments
- Understanding compliance: legal, regulatory, contractual, ethical
- Common regulatory frameworks (e.g., SOX, GDPR, FCPA, HSE standards)
- Internal policies vs. external mandates
- Compliance roles and responsibilities in project governance
Building a Risk and Compliance Framework
- Integrating compliance into project planning and execution
- Compliance checklists and audit trails
- Control activities, documentation, and version control
- Third-party due diligence and procurement risk
Monitoring, Auditing, and Reporting
- Tracking risk and compliance performance with KPIs and KRIs
- Use of dashboards, scorecards, and project reports
- Conducting internal audits and readiness reviews
- Communicating risk and compliance to stakeholders and regulators
Embedding a Culture of Risk and Compliance
- Leadership and accountability
- Training and awareness programs
- Whistleblower channels and incident reporting
- Continuous improvement through lessons learned