Project Risk Management
How to identify, analyse and respond to project risks — and run a risk register people actually use. For project engineers, planners and managers in industrial and energy organisations, and for self-directed learners building project delivery skills.
52m
Total time
4
Competency levels
12
Lessons
What you'll learn
- Explain the difference between a risk, an issue and an assumption, and why each is managed differently.
- Describe the risk management cycle and apply a probability–impact matrix to prioritise risks.
- Select appropriate response strategies for threats (avoid, mitigate, transfer, accept) and opportunities (exploit, enhance, share, accept).
- Build and maintain a risk register with named owners, dated actions and a regular review rhythm.
- Link risk exposure to contingency reserves and escalate risks that exceed the project's authority.
- Facilitate risk identification and review sessions that keep risk management alive throughout delivery.
Curriculum
Progress through each competency level in order.
1
Awareness
- 3mRisk, Issue or Assumption?Knowledge
- 2mThe Risk Management CycleKnowledge
- 7mAwareness Check: Risk BasicsAssessment
2
Knowledge
- 3mPrioritising Risks: The Probability–Impact MatrixKnowledge
- 3mResponse Strategies for Threats and OpportunitiesKnowledge
- 8mKnowledge Check: Analysis and ResponsesAssessment
3
Skill
- 3mRunning a Risk Register That Gets UsedKnowledge
- 3mAssignment: Build or Revive a Risk RegisterAssignment
- 7mSkill Check: Registers in PracticeAssessment
4
Mastery
- 3mContingency, Escalation and Leading RiskKnowledge
- 3mAssignment: Facilitate a Risk Review and Report to GovernanceAssignment
- 7mMastery Check: Risk LeadershipAssessment
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