Decision Analysis And Risk Management – Best Practices
Example Of 1 Day Course
8:00 a.m. – 9:00 a.m.
Short review of the organization’s existing business processes and requirements. This review would help to adjust the focus of the presentation to incorporate actual organization’s needs.
9:00 a.m. – 10:45 a.m.
Introduction to project decision and risk analysis process for mining industry. We will review the fundamentals behind decision and risk analysis, phases and steps of decision and risk analysis process and psychological issues, related to project management. This session includes few examples how decision analysis process is implemented for new product development in different organizations (oil and gas, IT, and pharmaceutical examples).
11:00 a.m. – noon.
Introduction to decision framing: assessing the business situation, aligning project objectives and identifying tradeoffs, identifying risks and uncertainties. 3D Principle of project decision analysis: Consistency, Continuity, Comprehensiveness. Estimations of project cost and duration: best practices. Techniques to elicit judgment about probabilities, durations, and costs.
1:00 p.m. – 2:45 p.m.
Modeling and estimating with RiskyProject: introduction to RiskyProject workflow: work breakdown structure, local and global risks, uncertainties in cost and duration, resources and resource assignment, integration with other software, tracking and project performance measurement.
3:00 p.m. – 4:45 p.m.
Managing risks and uncertainties in RiskyProject. Monte Carlo and Event chain methodology in RiskyProject, sensitivity analysis and reality checks, crucial tasks, mitigation efforts, chance of completion, etc. Principles of adaptive management: project tracking with RiskyProject.