Introduction to Quantitative Project Cost and Schedule Risk Analysis

Course Overview

Learn how to better understand a project’s risk and uncertainty, and improve the operational management of risks during the execution of a project.

Learn how to employ risk modeling to increase the likelihood of winning profitable bids!

Understand the most important modeling techniques, methods and software tools available to perform and interpret project cost and schedule risk analyses using risk analysis and risk modeling techniques (including Monte Carlo simulation);

Learn and practice key project risk analysis techniques that will allow you to support more informed and aggressive bids as well as better manage risks on upcoming or existing projects.

Gain expert insight from EpiX Analytics; a world renowned risk analysis consultancy company with vast experience consulting to some of the nation’s largest corporations as well as with numerous smaller, more specialized firms.

Duration: 2 days

Delivery Type: in-person

Cost: $1,490.00

The Project Cost and Schedule Risk Analysis course will be beneficial for all project managers, project analysts, cost estimators and consultants who would like to gain a greater insight into how risk analysis can increase the likelihood of winning profitable bids, better understand a project’s risk and uncertainty, and improve the operational management of risks during the execution of a project.
Previous risk modeling experience is helpful, but not necessary. The course is designed to be beneficial for both experienced and non-experienced Excel and risk modelers

Participants will be primarily using @Risk (version 5.0 or newer) or alternatively CrystalBall (v 7.0 or newer) with Microsoft Excel to solve the exercises. However, participants can also choose to use another Monte Carlo package of their choice. It is important that participants have basic working knowledge of Excel. However, no prior experience using @RISK, Crystal Ball, or other simulation tool is required. Trial versions of @Risk can be found from Palisade’s website here and trials of CrystalBall can be downloaded from Oracle’s website. As the trial licenses last 15 days, participants should install it only a few days before the course. In addition to @Risk/CB and MS Excel, participants are required to bring laptops with Microsoft Word and PowerPoint installed.

Course format

The course runs from 09:00 to 17:00 each day. Morning and afternoon coffee, and lunch are provided. Optional evening workshops on the first and second days allow extra time for running through example models and exercises.

Free ModelAssist

ModelAssist is a comprehensive risk analysis training reference and is free of cost. This reference tool provides an in-depth explanation of all of the risk analysis concepts, techniques and methods introduced in this course and greatly complements the course material. ModelAssist can be downloaded or accessed directly from our website.

Teaching Philosophy

All of our courses aim to help the participants understand risk analysis from the bottom-up, which is achieved through a relaxed, informal and interactive environment, using plenty of examples and hands-on exercises where students apply and adapt what they have learned.

Social Events

Our training courses provide an opportunity to develop or extend your professional network. We therefore arrange optional fun, interactive social events which take advantage of local attractions, cuisine, and culture. All social events are included in the course fee.

Lodging and Transportation

Course participants must arrange their own accommodation. However, we will be happy to provide information and alternatives for your travel arrangements. After you complete your registration form, please let us know that you will need our help.

Registration Discounts

Please contact us to obtain a code for the discounts below, or to discuss a special rate when registering 5 or more people. Discounts for groups of 3 or 4 people are applied automatically at registration. Discount rates cannot be combined.

* Early registration – 10% off registration (register and pay 30 days before course start date)
* Government/Academic – 5% off registration (Proof of eligibility requested after registration)
* Student – 25% off registration (Proof of eligibility requested after registration)
Use our contact form if you are interested in a course not currently in our schedule.