AACE Section Joint Technical Session: Decision & Risk Management 101 & a preview of the upcoming AACE International Project Risk Management Professional (PRMP) certification


The word “risk” means different things to different people. There is risk according to insurance industry underwriting; there is an entirely different meaning among the financial and investment community. There are also safety, threat, and vulnerability risks, in addition to enterprise risks, just to mention a few. Within AACE we have narrowed our focus to cover two primary categories of risk: the risks associated with business decisions when committing capital resources for asset investments, and the risks associated with the planning, design, construction, operations, and maintenance of specific projects. The focus of this presentation will be on the latter, which in the broader sense is referred to as project risk management.

Within the field of project risk management, it is important to understand that there are necessary distinctions among the responses of various project personnel to the risk management process. The roles and responsibilities, as well as the level of expertise, are different for project managers, project control personnel such as estimators and schedulers, and the risk manager. These individuals should understand what they need to know regarding their individual roles in a comprehensive risk management program

This presentation will introduce the primary tenets of risk management and discuss how the varying roles of project personnel work together to complement each other within the overall risk management process. It will take a look at the new AACE certification requirements for a

Project Risk Management Professional (PRMP), scheduled for introduction at the June 2021 AACE International Conference & Expo.


David Norfleet

Deputy Project Manager, Risk and Contracts Management


LOCATION: (Virtual)


April 08th, 2021 @ 3:30pm to 5:00 pm. PDT