Project Risk Management Advanced Training Course

Course Details

Project Risk Management Advanced Training Course

The Project Risk Management Advanced course focuses on holistic frameworks in the qualification, quantification and understanding of risk. Knowing these frameworks and their limitations, enable decision makers to make more informed and better decisions.

The course takes delegates beyond their basic understanding of project risk management by providing them with the necessary knowledge and skills to successfully utilize structured qualitative and quantitative risk management methods for projects.

COURSE DURATION

This course is 2 days.

COURSE SYLLABUS

This course covers the following topics:

DAY 1

Theory:

  • Principles of Risk Management
  • International Standards
  • Project De-Risking Process
  • Principles of Qualitative Risk Management

Tools:

  • Risk Management Plan
  • Risk Register
  • Risks Influence Diagrams
  • Risk Bowties

DAY 2

Theory:

  • Principles of Risk Quantification
  • Principles of Estimation
  • Statistical Principles
  • Principles of Monte Carlo Simulations
  • Principles of Contingency Allocation

Tools:

  • Decision Trees
  • Monte Carlo Simulations
PRICE

R8,630.00

Dates

Clear

Corporate Training

Custom dates can be provided to corporates with more than 8 delegates.

Enquire about our courses

We will answer all your questions regarding our training courses

Course Benefits

Understand the importance of proper project risk management and how it contributes to successful project management and project outcomes.

Clear risk identification, qualitative and quantitative risk analysis, selection of risk response strategies, development and implementation of risk response plans, and monitoring of risks.

Development and controlling of realistic project cost and time contingencies.

Insight into quantitative risk analysis reports by subject matter experts.

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Course Format

Day 1 focuses on the theory and tools of project qualitative risk analysis and is supported by three worksheets that are completed within teams.

Day 2 focuses on the theory and the tools of project quantitative risk analysis and finishes off with completion of a final worksheet.

As a lot of subject matter is covered in a short space of time, giving rise to a very intensive course requiring the full attention of all delegates to obtain maximum value.

Who Should Attend This Course

The course is aimed at:

  • PMO Managers
  • Project Managers
  • Construction Managers
  • Project/Design Engineers
  • Project Planners
  • Project Controllers
  • Project Team leaders & subject matter experts
  • Individuals wanting to know more about project risk management
  • Managers who want to improve their project stakeholder management skill

Included

Delegates will receive the following items on the course:

  • Course file with all the course presentations, the course workbook, exercises, and handouts
  • Notebook and pen
  • A Certificate of Attendance on successful completion
  • Light breakfast, lunch, & refreshments

Who Should Attend This Course

The course is aimed at:

  • PMO Managers
  • Project Managers
  • Construction Managers
  • Project/Design Engineers
  • Project Planners
  • Project Controllers
  • Project Team leaders & subject matter experts
  • Individuals wanting to know more about project risk management
  • Managers who want to improve their project stakeholder management skill

Included

Delegates will receive the following items on the course:

  • Course file with all the course presentations, the course workbook, exercises, and handouts
  • Notebook and pen
  • A Certificate of Attendance on successful completion
  • Light breakfast, lunch, & refreshments

Course Objectives

  • Understand why estimates are almost always inaccurate.
  • Illustrate the drivers and effect of variation in estimates.
  • Illustrate the drivers and effect of uncertainty in estimates.
  • Explain the context of risk qualification.
  • Explain the context of risk quantification.
  • Understand what Monte Carlo simulation is and how it works?
  • Interpret Monte Carlo simulation results.
  • Apply reserves to project budgets and schedules.

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