International Project Risk Assessment and the IPRA - Instructor's Guide

Global capital project delivery has become a key focus of many organizations. International projects have unique risks not typically encountered on domestic projects and therefore they need an effective, structured risk management process to facilitate project success. Experience indicates that in many cases effective risk management is not done.

Research conducted by the CII International Project Risk Assessment Project Team indicates that:

• Risk assessment on international projects is inconsistent and typically only focused on one phase of the project, rather than the entire project life-cycle
• A structured process to address risks on international projects can provide large benefits to project participants
• The process and tool developed in this effort can lead to more consistent risk assessment and subsequent risk mitigation

CII has developed a process and tool (the International Project Risk Assessment (IPRA tool) that can significantly improve risk identification, assessment and mitigation on international ventures, leading to improved cost and schedule performance of capital projects. This education module provides the venue for teaching risk identification and assessment for international projects.