Risk Management for Large Projects
Course ID: 261026 0101 1160Proj
Course Dates : 26/10/2026 Course Duration : 5 Studying Day/s Course Location: London, United Kingdom
Language: Bilingual
Course Category: Professional and CPD Training Programs
Course Subcategories:
Business Decision Making Governance & Compliance Leadership & Management Development Risk Management Strategic Management
Course Certified By: Projacs Academy & LondonUni - Executive Management Training
* Professional Training and CPD Programs
Leading to:
Executive Diploma Certificate
Leading to:
Executive Mini Masters Certificate
Leading to
Executive Masters Certificate
Certification Will Be Issued:
From London, United Kingdom
Course Fees:
VAT varies by course location and participant nationality.
Pay in Full Now
Introduction
This five-day course teaches practical risk management for large, complex projects. It focuses on methods to identify, quantify and control the risks that drive cost and schedule outcomes. Participants practice both qualitative and quantitative tools and learn how to make risk data usable for senior decision makers. The course uses real project examples and hands-on exercises.
Objectives
1. Create and maintain a risk register that links causes, probability, impact, owners and triggers.
2. Perform qualitative risk ranking and run quantitative analyses (including Monte Carlo) to produce probabilistic cost and schedule forecasts.
3. Calculate and defend contingency and management reserve using scenario-based and statistical methods.
4. Design risk responses and contract provisions to mitigate, transfer, accept or exploit risks, and assign accountability for execution.
5. Establish governance, reporting and escalation processes that integrate risk outputs into project controls and executive decision making.
2. Perform qualitative risk ranking and run quantitative analyses (including Monte Carlo) to produce probabilistic cost and schedule forecasts.
3. Calculate and defend contingency and management reserve using scenario-based and statistical methods.
4. Design risk responses and contract provisions to mitigate, transfer, accept or exploit risks, and assign accountability for execution.
5. Establish governance, reporting and escalation processes that integrate risk outputs into project controls and executive decision making.
Who Should Attend
Program managers responsible for large project portfolios.
Project directors and senior project managers on complex capital or transformation programs.
Project controls managers and lead schedulers responsible for cost and schedule forecasting.
Risk managers and risk analysts working on project or portfolio risk.
Commercial and contracts managers who allocate and negotiate risk with suppliers and partners.
Training Method
• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Post-assessment
If Applicable:
• Each participant receives a 7” Tablet containing a copy of the presentation, slides and handouts
Program Support
This program is supported by:
* Interactive discussions
* Role-play
* Case studies and highlight the techniques available to the participants.
Course Agenda
Daily Schedule (Monday to Friday)
- 09:00 AM – 10:30 AM Technical Session 1
- 10:30 AM – 12:00 PM Technical Session 2
- 12:00 PM – 01:00 PM Technical Session 3
- 01:00 PM – 02:00 PM Lunch Break (If Applicable)
- Participants are expected to engage in guided self-study, reading, or personal reflection on the day’s content. This contributes toward the CPD accreditation and deepens conceptual understanding.
- 02:00 PM – 04:00 PM Self-Study & Reflection
Please Note:
- All training sessions are conducted from Monday to Friday, following the standard working week observed in the United Kingdom and European Union. Saturday and Sunday are official weekends and are not counted as part of the course duration.
- Coffee and refreshments are available on a floating basis throughout the morning. Participants may help themselves at their convenience to ensure an uninterrupted learning experience Provided if applicable and subject to course delivery arrangements.
- Lunch Provided if applicable and subject to course delivery arrangements.
Week 1
Day 1
Risk Management in Large Projects
- Understanding risk challenges in complex projects
- Linking project risks with cost, schedule and delivery outcomes
- Identifying key elements of large project risk management
Risk Identification and Risk Registers
- Creating structured risk registers
- Linking risks with causes, impacts and ownership
- Defining triggers and review requirements
Risk Management Planning
- Developing project risk management approaches
- Establishing risk processes and responsibilities
- Aligning risk activities with project controls
Day 2
Qualitative Risk Analysis
- Assessing risk probability and impact
- Ranking and prioritising project risks
- Supporting risk-based decision-making
Quantitative Risk Analysis
- Understanding quantitative risk methods
- Applying probability-based analysis
- Using data to improve project forecasts
Monte Carlo Analysis
- Understanding Monte Carlo simulation concepts
- Analysing cost and schedule uncertainty
- Producing probabilistic project forecasts
Day 3
Contingency and Reserve Management
- Understanding contingency and management reserves
- Calculating required risk allowances
- Supporting informed budget decisions
Scenario-Based Risk Analysis
- Developing risk scenarios
- Evaluating potential project outcomes
- Supporting proactive planning
Risk Response Strategies
- Developing risk response options
- Selecting appropriate response approaches
- Aligning responses with project objectives
Day 4
Risk Allocation and Contracts
- Understanding risk transfer approaches
- Allocating risks through contracts
- Supporting supplier and partner management
Risk Response Implementation
- Assigning risk response responsibilities
- Monitoring response execution
- Measuring risk reduction effectiveness
Project Controls Integration
- Linking risk information with project controls
- Supporting cost and schedule management
- Improving project decision-making
Day 5
Risk Governance and Reporting
- Establishing risk governance structures
- Developing risk reporting processes
- Supporting executive decision-making
Large Project Risk Management Practices
- Applying risk management techniques to complex projects
- Strengthening project risk capability
- Improving organisational resilience
Review and Action Planning
- Reviewing risk management for large projects tools and frameworks
- Preparing a personal implementation or development plan
- Course review, feedback and implementation planning
