Managing Project Risk

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 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!

Learning Outcomes (Day 1-2)

Learners will gain the 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.

Procurement and Contract Management

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. 

Learning Outcomes (Day 3-4)

Learners will gain practical skills to:

  • 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 the 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.

Responding to TRC Call to Action #92

Business and Education

This course provides education and training on corporate policy and core operational activities involving Indigenous peoples in order to gain long-term sustainable benefits from economic development projects.

Spring 2024 Session

Learners will receive a badge toward the Project Management Professional MicroCertificate upon successful completion of the four half-day sessions.

    1. Welcome to the Course!

    2. April 29, 2024 (9:00 am - 12:30 pm) via Zoom

    3. Project Procurement and Contract Management Workbook

    1. April 30, 2024 (9:00 am - 12:30 pm) via Zoom

    2. Project Procurement and Contract Management Quiz

    1. June 12, 2024 (9:00 am - 12:30 pm) via Zoom

    2. Managing Project Risk Participant Workbook

    1. June 13, 2024 (9:00 am - 12:30 pm) via Zoom

    1. Managing Project Risk Quiz

    2. Course Evaluation

Managing Project Risk & Procurement and Contract Management

  • 750.00 + GST
  • Hybrid course with online modules and remote learning (4 half-day Zoom meetings)
  • 14 hours

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


Procept Associates Ltd.

Peter Monkhouse

Procept Facilitator

Over the past 16 years, Mr. Monkhouse has taught almost 3,000 students in Project Management in a variety of formats including classroom, online, and intensive formats. Students in his classes come from a wide variety of industries, including financial, healthcare, government, non-profit services, and entertainment. Mr. Monkhouse's vast industry experience allows him to use examples to bring project management to life for all his students.

Shawn Pariag

Procept Facilitator

Shawn is a project management trainer and consultant with Procept and a director and agile coach within the Technology and Operations group at a major Canadian bank. For the past 22 years, he has successfully merged his passions for technology, project management, and adult learning into an intriguing career. As a senior member of the team, Shawn actively seeks out opportunities to transfer knowledge and help teams continuously reflect and improve, become more effective in their roles to increase their outcomes, collaborate, and build quality practices. He actively gives back to the project management community, holding several senior positions in the PMI Lakeshore Chapter. Shawn graduated with a BSc. in Computer Science from the University of the West Indies and has also earned several industry certifications from professional associations such as Prosci, Institute for Performance and Learning, IC Agile, and the Project Management Institute.

Course Review

4 star rating

Managing Project Risk, Procurement and Contract Management

Misty Jimmy

Good course to take.

Good course to take.

Read Less


  • Does this course have prerequisites?

    The prerequisite for this course is Project Management Essentials. The remaining five Professional MicroBadges of the Project Management Professional MicroCertificate can be taken in any order.

  • What do I do if I have already completed a Project Management Essentials or PMI course from another organization and want to continue learning through the Professional Certificate?

    Please submit a pdf of your PME or PMI badges or certificates to [email protected] for review and approval.

  • How is successful completion of the course determined? Are there tests or quizzes involved?

    Attendance and participation are mandatory for all 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 Quizzes.

  • Some individuals and organizations may be GST exempt.

    If you or your organization are exempt from GST, please contact [email protected] to ensure that your invoice is prepared accordingly.

  • How long will I have access to the course?

    You will have access to the course for two weeks from the last scheduled course date.

  • Who do I contact if I need help?

    Support requests are received during regular office hours. Please expect a response within 24-48 hours. You may contact [email protected] for assistance with any questions you may have. We are here to help!

Manage successful projects and procure contracts, starting today

In Partnership With

The Managing Project Risk & Procurement and Contract Management course is delivered in partnership with Procept Associates Ltd, a Registered Education Provider accredited by the Project Management Association of Canada (PMAC) as meeting their standards for quality. After completing this course, participants are eligible to write the Certified Project Coordinator (CPC) exam from PMAC.