Construction Contract and Risk Management
Develop the contract and risk management skills needed to reduce claims and deliver successful construction projects.
Overview
Construction projects of every size involve contractual obligations, changing project conditions, and inherent risks. Successfully managing contracts and project risks is essential to minimizing disputes, controlling costs, and ensuring successful project delivery.
PMI’s Construction Contract and Risk Management course equips professionals with practical techniques to manage contracts throughout their lifecycle, identify and prioritize project risks, and implement proven risk management strategies. You’ll also learn how to reduce claims and disputes while improving project outcomes using industry-recognized best practices and the Integrated Project Risk Assessment (IPRA) framework.
This self-paced course is one of the four foundational courses required to earn the PMI Construction Professional (PMI-CP)™ certification.
What You’ll Learn
By the end of this course, you will be able to:
- Understand the complete construction contract lifecycle and key contractual obligations.
- Select appropriate contract structures and project delivery methods.
- Identify, classify, and prioritize project risks in construction environments.
- Apply effective risk management frameworks and processes throughout the project lifecycle.
- Use industry-standard risk management tools and the Integrated Project Risk Assessment (IPRA) methodology.
- Prevent, reduce, and manage contractual claims and project disputes.
- Apply best practices for claims management and dispute resolution to improve project performance.
The course combines engaging multimedia lessons, guided reviews of the PMI Exam Content Outline (ECO), and structured self-study activities, enabling learners to build practical knowledge at their own pace.
Course Modules
Module 1: Introduction
Gain an overview of the course objectives, learning outcomes, and the importance of contract and risk management in construction projects.
Module 2: Contract Lifecycle
Explore the stages of the contract lifecycle, including contract planning, execution, administration, and closeout, along with best practices for managing contractual obligations.
Module 3: Contract and Project Delivery Strategies
Learn about various construction project delivery methods and contract structures, and understand how selecting the appropriate approach supports successful project execution.
Module 4: Risk Classification and Prioritization
Understand how to identify, classify, and prioritize project risks to support proactive decision-making and effective risk response planning.
Module 5: Risk Management Frameworks and Processes
Examine different risk management models and learn how to select the most appropriate framework based on project complexity, delivery method, and organizational needs.
Module 6: Risk Management Tools and Techniques
Discover practical tools and techniques used to identify, assess, monitor, and control project risks while increasing the likelihood of successful project outcomes.
Module 7: Understanding Construction Claims
Learn the common causes of contractual claims, distinguish between change orders and claims, and identify potential claim situations using lessons learned from previous projects.
Module 8: Preventing Claims and Disputes
Explore proactive strategies, industry best practices, and risk management techniques that help prevent claims, minimize disputes, and strengthen project relationships.
Module 9: Claims and Dispute Resolution
Understand the complete claims management process, including claims preparation, negotiation, and the various dispute resolution methods commonly used in construction projects.
Professional Development Units (PDUs)
- Total PDUs: 5
- Business Acumen: 3
- Power Skills: 1.5
- Ways of Working: 0.5
Course Details
- Course Duration: 6 Hours
- Delivery Format: Self-Paced Online Learning
- Associated Certification: PMI Construction Professional (PMI-CP)™
