EXCST 4213 - Construction Risk Management

Managing risk is a critical function to ensure successful construction projects. Construction is inherently risky including aspects such as: costs, time, physical (personal and property), environmental, jurisdictional, reputation, and general liability. Risk levels and sensitivity must be considered in detail for every project. This course will provide participants a solid foundation in the concepts, tools and techniques of construction risk management. The course draws from various perspective of the construction industry to give students a well-rounded approach to this process and an understanding of the rationale used in developing effective risk management systems.

Aimed at a wide range of construction workers, including tradesmen and journeymen, managers and supervisors, administrators, contractors, consultants, architects, and construction business owners.

By the end of this course, students should be able to:

• 🗸 Describe the concepts of risk control.
• 🗸 Describe all risks associated with the construction industry for construction projects using a systematic classification of risks.
• 🗸 Complete risk identification procedures for construction projects.
• 🗸 Complete a construction risk assessment for the project after determining the total risk profile that the project demonstrates.
• 🗸 Develop a risk analysis using quantitative methods that will appropriately value the risk for the construction project.
• 🗸 Create a risk management process plan that will aid the participant in meeting the challenges that each risk presents.
• 🗸 Develop risk management techniques to deal with specific categories of risks.
• 🗸 Develop risk response strategies (including strategies for mitigating major risks) that will provide specific actions to deal with risks of various types.
• 🗸 Perform a root cause analysis to help recommend proper actions to deal with situations for where risks were not previously identified.
• 🗸 Review case studies and report on the risks associated with each example.

• 🗸Recognized by CIQS, Gold Seal, and Blue Seal both as required education for accreditation and continuing professional development (post-accreditation maintenance).
• 🗸Learning materials available through eClass, the University of Alberta’s eLearning management tool.
• 🗸Prior knowledge of project management is recommended for student success.
• 🗸In-class participation will be graded, including group work and case study review.