Risk Assessment & Mitigation

Event Details

The overarching goal of Infrastructure Project Risk Management is to anticipate and solve problems before they result in an adverse impact to the projects. Globally, infrastructure projects happen in high-risk environments that are characterized by high levels of complexity and uncertain events or conditions that, if they occur, have positive or negative effect on one or more project objectives. Locally, Kenya is characterized by complex social systems, weak institutions and uncertainty, which generate risks that can easily undermine development results. However, infrastructure projects suffer from significant undermanagement of risks throughout the project life cycle, as risks aren’t properly accounted for, which is exacerbated by an ongoing shortage of risk-management capabilities, talent and experience. This Continuous Professional Development workshop is designed to address this gap and help professional engineers and other project practitioners establish a framework for the application of formal risk management particularly in project planning, implementation and evaluation. In the workshop, managing risks in infrastructure projects will be appreciated as an important proactive management process in order to achieve the project objectives in terms of time, cost, quality and scope through the identification of opportunities and threats as well as compliance with relevant legal aspects, regulatory requirements and international norms. Participants will acquire competencies to set the best course of action under uncertainty by identifying, assessing, and understanding the main categories of risks encountered in projects; planning risk responses; making decisions and communicating risk issues. They will explore the risk management process in the context of infrastructure projects and familiarize themselves with the tools and techniques used for systematic project risk management and apply themselves to Best Practices in mitigating the significant risks associated with projects throughout their cycle aimed at achieving maximum results and value from project activities.

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