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The course will focus on examining and applying qualitative and quantitative risk analysis techniques used in the Best Practice Assessment of uncertainties in a project-based enterprise.
Uncertainty is inherent in all projects and particularly in the aspects of technical, financial, schedule, legal, and quality performance. Project Risk Analysis is a body of expertise focused on the systematic and comprehensive analysis of the uncertainty in projects and project based operations.
Day one will include an introduction to risk management and an overview of the qualitative approach to risk management. This will include discussions on planning risk management, identifying and assessing risks, and planning response strategies. The techniques covered will be applied to a case study project.
An overview of the qualitative approach to risk management, including the underlying principles will be covered on this day. The learning objectives will also include being able to use software to perform quantitative analysis. Initially, basic excel will be used to perform a simulation, but specific quantitative software will also be used to analyze the risks to a case study project budget.
Participants will work in teams to present the results of their risk analysis on their case study projects.
This course is intended for any project personnel who require an understanding of how to effectively manage risks on projects.
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