Due diligence refers to the care that a reasonable person would take to avoid harming other people or their property before undertaking a task or project. The definition of due diligence in engineering projects is much stricter than in its common usage.
In this one-day course, you'll learn how to:
- identify the fundamentals of project due diligence
- identify potential project ‘show-stoppers’
- apply techniques to identify a project's critical success factors
- apply top-down vulnerability techniques to project risk issues.
The course will also explain why using the risk management standard ISO 31000 by itself can't demonstrate due diligence.
Through a series of learning activities that apply theory to real work situations, you'll learn a process to deliver projects on time, on budget, to specification and to stakeholder satisfaction. You'll then be able to apply this learning directly to your workplace.
- Understand different types of risk, and the difference between project risk and project due diligence
- Understand the principles of various risk characterisation systems
- Apply technical risk assessment techniques, including bottom-up, top-down and generative project risk techniques
- Identify a project's critical success factors
- Conduct a project threat and vulnerability assessment
- Apply processes for conducting project due diligence
- Understand the limitations of ISO 31000
Is this course for you?
This course designed for engineers and project managers responsible for construction projects, with three or more years of experience.
There are no prerequisites for this course.
Topics we'll cover
Introduction to risk
- The concept of risk and the different types of risk
- The difference between project risk management and project due diligence
- A historical perspective to project risk management
- The principles of various risk characterisation systems
Technical risk assessment techniques
- Bottom-up techniques (FMECA, HazOps, QRA and Monte Carlo simulations) and when best to use them
- Top-down techniques (SWOT assessments and threat and vulnerability analysis)
- Generative project risk techniques
Project due diligence
- Importance of identifying project performance critical success factors
- Importance of early-stage project due diligence to minimise cost or scheduling blowouts, scope changes and other project-management traps
- How to conduct a project threat and vulnerability assessment
- The logical limits to ISO 31000, the risk management standard to demonstrate due diligence
The course uses case studies to help demonstrate how to apply the process and describe the outcomes. The processes covered in this course have been successfully used on projects including:
- Marina Coastal Expressway
- Tugan Bypass
- Procurement of Class E Trams
- Procurement of Extrapolis Trains.
Take this course to build skills and knowledge in the following Engineers Australia Chartered status competencies*:
5. Engage with the relevant community and stakeholders
6. Identify, assess and manage risks
10. Taking action
*Completing this course does not automatically guarantee you a competency. However, you will gain the base knowledge you need to develop these specific Chartered competencies.
Gaye Francis is an experienced risk and due diligence engineer and project manager with a diverse range of project experience. She is also one of the directors of engineering firm, R2A.
Gaye has worked with both private and government clients across a wide range of industries, including road, rail, marine, mining, aviation and water. At R2A, Gaye is involved in all aspects of the practice and oversees the consulting stream.
She is passionate about sharing her expertise to help organisations minimise risk and maintain compliance with the law.
Richard Robinson BE BA MRSV FIEAust is Chairman of R2A Due Diligence Engineers.
Richard is a Fellow of Engineers Australia and an Honorary Fellow of the Australasian Marine Pilots Institute. Richard has degrees in Engineering (Monash University) and Philosophy (University of Melbourne). He is the principal author of Engineering Due Diligence (11th edition 2019) which is used as a text by a number of Australian Universities.
Richard was also a major contributor to the third revision of the Engineers Australia's safety case guideline.