Project Risk Management Essentials for Project Professionals

An Intensive 2-Day Training Course

Project Risk Management Essentials
for Project Professionals

Managing Project Risks with Maximum Efficiency

We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at

Why Choose this Training Course?

Why Choose this Training Course?

This Project Risk Management Essentials training course is designed to equip project teams with the necessary knowledge and skills to allow them to accurately and efficiently identify, quantify and mitigate risks which threaten to disrupt, or derail, their projects. The training course content is applicable to all industry sectors where projects are undertaken, and are of a value and nature that necessitate formal risk management.

Project Risk Management is an essential activity in managing projects of all types and sizes, and can often determine the success of failure of a project. By their very nature, most projects are exposed to numerous risks and risk types. While the technical design risks that affect projects are normally managed through formal project studies and deliverables, the day-to-day risks affecting project execution are often missed, or poorly managed, with the potential for disrupting projects with disastrous outcomes.

By better understanding the risks which may affect your projects, and how to effectively manage them, you will be better positioned to successfully deliver your projects on schedule, within budget and with a clear health, safety and environment record.

The training and application of the risk management methodology covered in this PetroKnowledge course will benefit all people who are involved in any type or size of project, be it small single-discipline type projects through to multidiscipline mega projects.

The training course is based on the principals of ISO 31000:2009, “Risk Management - Principles and Guidelines” and ISO 31010:2009, “Risk Assessment Techniques”.

This training course will feature:

  • Project Risk Management Techniques
  • Risk Definition
  • Bow-Tie Risk Analysis
  • The Cumulative Risk Effect
  • Project Context and Risk Boundaries
  • Risk Identification
  • Risk Quantification
  • Risk Manageability
  • Risk Mitigation

What are the Goals?

What are the Goals?

At the end of this training course, you will learn to:

  • Accurately identify and define project risks
  • Understand the Cumulative Risk Effect
  • Apply bow-tie risk analysis methods
  • Explore different risk management techniques
  • Differentiate between opportunity and threat risks
  • Understand project context and risk boundaries
  • Distinguish between real and perceived risks
  • Quantify risk probability and impacts
  • Understand risk impact categorisation
  • Apply optimum mitigation techniques
  • Master the process of efficient risk management

Who is this Training Course for?

Who is this Training Course for?

The Project Risk Management training course is tailored for all personnel who are either involved in, or responsible for, the successful execution of projects of all types and sizes.

This training course is suitable to a wide range of professionals but will greatly benefit:

  • Project Directors
  • Asset Managers
  • Project Managers
  • Project Risk Managers
  • Contract Managers
  • Project Engineers
  • Discipline Engineers
  • Technical Assistants

How will this Training Course be Presented?

How will this Training Course be Presented?

The training course is run over two days, with the first day covering the theory of project risk management, and ending with an open forum for participants to provide their insights, questions or challenges on the various risk management techniques applied to their individual projects. Day 2 commences with a summary of the content covered in Day 1, followed by a simulated project risk assessment workshop, where participants will apply the tools and techniques learnt during the course.

Daily Agenda

Day One: Project Risk Management Theory

  • Introduction to Project Risk Management Techniques
  • Risk Definition
  • Bow-Tie Risk Analysis
  • The Cumulative Risk Effect
  • Project Context and Risk Boundaries
  • Risk Identification
  • Risk Quantification
  • Risk Manageability
  • Risk Mitigation

Day Two: Project Risk Management Practical

  • Project Risk Management Tools
  • Project Risk Management Workshop
    • Project Selection
    • Risk Identification
    • Risk Occurrence Timeline
    • Probability of Occurrence
    • Impact Identification
    • Impact Ranking
    • Probability Mitigation Identification
    • Impact Mitigation Identification
    • Mitigation Implementation
  • Workshop Review
  • Workshop Q&A


  • On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 50 981 7386 | +971 2 557 7389 or send an email to

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

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