ICE003 - Managing Project Risk and Procurement and Contract Management

Course Description

We live in a world of change and uncertainty. Now, more than ever, the success of a project is dependent on the ability to identify, quantify, and manage threats and opportunities. Sometimes, organizations view potential undesirable outcomes as something that should not be discussed to avoid negativity or because they do not appreciate the importance of risk management. Other organizations value risk management but they lack the skills and knowledge to be effective in this crucial area of competence.

This course looks at risk identification, qualitative and quantitative techniques to identify the likelihood of a risk occurring and the impact if it does. A variety of risk response strategies are discussed and practiced during workshop exercises. Upon course completion, learners will be more confident in their ability to manage uncertainty.

If you are a project manager looking to improve your project risk management processes or are members of a project team looking to begin conducting risk management on a new or risky project - this is the course for you!

Procurement management, and especially contract administration, have become essential project management skills in today's trend of outsourcing all but the company's core competencies. This course will guide you through procurement practices, solicitation of bids, contract negotiations and provide a taste of contract law. This course will provide the basic tools required for project managers in these areas and learners will gain insight into the role of the procurement officer on a project team. 

TRC Calls to Action

Business and Education #92

Learning Outcomes

Learners will gain practical skills to:

• Apply a common framework of risk management.
• Value the importance of including risk management in project planning and execution.
• Facilitate team discussions to identify project risks and opportunities and formulate risk responses.
• Analyze risks and select response strategies appropriate to priorities and an organization's risk tolerances.
• Use expected monetary value to assess the reasonableness of risk response strategies.
• Use proven techniques, tools, and skills for managing contracting and procurement on projects.
• Know how to plan and control procurement management scope of work.
• Know how to effectively select procurement personnel for your project.
• Understand and use procurement management terminology.
• Anticipate the impact of procurement management upon other aspects of project management.
• Make a plan for enhanced procurement management efforts for your project.

Skills & Competencies

• Risk management
• Risk management frameworks
• Risk identification
• Quantifying risk
• Risk analysis
• Managing threats and opportunities 
• Risk mitigation strategies
• Procurement management
• Contract management
• Contract administration and control
• Contract negotiation
• Vendor relationship management

Summary

• Number of hours: 3.5 hours/day x 4 days = 14 hours

• Assessment: Attendance and participation are mandatory for all four sessions and are monitored by the facilitator. Lack of attendance and/or participation may affect the learner's successful completion of the course. Successful completion of the course involves achieving 80% on the Final Quiz.

• Previous education required: The prerequisite for this course is Project Management Essentials. The remaining badges of the Project Management MicroCertificate can be taken in any order.

• Delivery: Hybrid course with online modules and remote learning (Four half-day Zoom meetings).

• Completion timeline: You will have access to the course for one week from the last scheduled course date.

FAQ's

Is this course for everyone?

• Yes, this course is relevant to all people from all walks of life. The learners' life experiences will influence how they experience the course.

Some individuals and organizations may be GST-exempt.

• First Nations University of Canada is situated on the Star Blanket First Nation and is exempt from Provincial Sales Tax (PST). If you or your organization are exempt from Government Sales Tax (GST), please contact icec@firstnationsuniversity.ca to ensure that your invoice is prepared accordingly.

I need financial support. What funding options does ICEC recommend?

• Check out our Funding Opportunities here. 

I am interested in an in-person offering of this course. 

• Please contact icec@firstnationsuniversity.ca to learn more about which courses can be offered in person and discuss the options. 

Who do I contact if I need help?

• Check out ICEC's Learner Support page to see if your question is answered in the FAQs. If your question remains unresolved, feel free to complete the form with your question, or you may contact icec@firstnationsuniversity.ca for assistance with any questions you may have. We are here to help! Support requests are received during regular office hours. Please expect a response within 24-48 hours. 

Testimonials

Applies Towards the Following Certificates

• Project Management Professional MicroCertificate : Project Management Professional MicroCertificate