Project Risk And Decision Analysis Training Course
Example of 2 Day Course. All courses are delivered remotely or on premise. Currently we do not have open scheduled courses available.
Day 1 – Decision Analysis Process and RiskyProject software
1. Introduction to project decision and risk analysis process
- Motivations behind project decision analysis process
- Project decision and risk analysis workflow – decision framing, evaluation and monitoring
- Project decision analysis process and other organizational processes
2. Short overview of decision analysis theory
- Psychological biases in heuristics in new product development
- Brief overview of quantitative method: decision tree analysis, Monte Carlo simulations, etc.
3. Project planning, budgeting, and scheduling with risks and uncertainties
- Risk management: planning, evaluation, monitoring and response
- Managing of risk events using event chain methodology
- Comparing project costs, revenue and duration with and without risks
4. RiskyProject and New Product Development
- Scheduling new product development: identification probabilities and risks
- Risk aversion and risk tolerance in new product development
- Analysis different project alternatives
- Making decisions at the gate
5. Basic Features of RiskyProject
- Scheduling with risk and uncertainties
- Quantitative analysis using event chain methodology
- Useful tools and reports in RiskyProject
Day 2 – RiskyProject Workflow: Realistic Project Scheduling and Budgeting
1. Project scheduling
- Identification of activities and relationship between them, calendars
- Material and work resources, fixed and variable cost
2. Risk identification and response planning
- Risk properties: probability, impact, outcome, moment of risk, correlations
- Local and global risks
- Assigning local risks to task and resources
- Uncertainties in duration and costs, expressed as statistical distributions
- Brainstorming for risk identification
3. Quantitative analysis and interpretation of results
- Performing Monte Carlo simulations: convergence monitoring
- Results of quantitative analysis: base, low, and high schedules
- Cost and duration analysis on each project gate
- Chance of project completion (success rate)
4. Sensitivity analysis and reality checks
- What risk is most important?
- Verifying probabilities and impacts of risks
5. Analysis of cost and revenue on different phases of the project
- Probabilistic cashflow diagram
- Cost variance: comparing cost with and without risks
- Critical and crucial tasks: identification of tasks which affect project schedule at most
6. Short overview of tracking project with uncertainties
- Forecast versus actual cost
- Risk and uncertainties for partially completed project
7. Integration with project management and business analysis software, reporting
- Reporting tools: project dashboard, exporting charts, flexible reporting
- Export/import data to/from other software and relational databases