Learn to identify common construction project risks and how to respond to proactively address them.
Construction projects are defined by three critical elements, the work or scope of what is to be built, the timeframe or schedule in which to build it, and resources or budget needed to pay for it. All three of these contain elements of risk that are unique to construction projects. Many of these risks are inherent in the construction environment that is characterized by VUCA (volatile, uncertain, complex, and ambiguous) effects and compounded by the large number of suppliers and subcontractors involved in most construction projects. This presentation will present ten construction project risks. It will identify the elements of the risks, discuss the risk analysis based on likelihood and impact, then discuss risk response options. While it is unlikely that one construction project will be plagued with all ten risks, most projects must address at least half the risk items. Of course, not addressing the risks proactively does not make it go away, it just means that the reactive response will likely be higher cost, longer delay, and jeopardizes the quality of the work.
Agenda
Faculty
Raymond Sheen
Product and Process Innovation, Inc.
- President of Product and Process Innovation, Inc.
- Practice focuses on the successful implementation of new technologies for an organization; this includes the technical performance, the effectiveness of the implementation, and the organizational response to the technology change, recently, most of the work has been training and consulting with respect to digital transformation
- Certified as Project Management Professional (PMP) and as a Scrum Master, he has been teaching these topics for over 20 years through organization such as Worcester Polytechnic Institute, Central Connecticut State University, and the China Institute for Innovation, in addition, he has provided training and consulting in this field directly to Fortune 100 clients on three continents.
- Author of the book, HBR’s Guide to Building Your Business Case. Co-author to HBR’s Guide to Project Management and Demystifying Digital Transformation.
- Member of Project Management Institute (PMI) and the Institute of Electrical and Electronic Engineers (IEEE), also selected as a Fellow at the Institute for Digital Transformation
- M.S. degree in astronautical engineering, Massachusetts Institute of Technology; B.S. degree in mechanical engineering, U.S. Air Force Academy; graduate certificate in digital transformation strategy, Boston University
- Can be contacted at 1-864-430-1880 or [email protected]
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