Basics of Risk Management
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Explore the fundamentals of risk management using the 3C (Chance, Consequence and
Control) paradigm. Learn the principles of risk characterization and learn to distinguish
risks from issues. Through a series of case studies and examples, delve into the
world of risk assessment and risk taxonomies. Learn to compute risk profiles and
determine your project's risk exposure. Explore the major approaches to risk handling
and learn how to develop, execute, and track a focused, actionable risk management
plan.
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Feature
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Description
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Duration
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7 hours
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Auditorium Size
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20
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Primary Format
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Workshop
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Take-Away
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Risk Taxonomy
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Learn how to apply the principles of quantitative risk management to planning and
monitoring your project. Take the guess work out of identifying resources, establishing
schedules, and estimating contingencies.
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Employ Monte-Carlo simulations (each student will receive a ready-to-use Monte-Carlo
simulator to take back to the workplace) to predict best and worst-case scenarios,
earliest finish dates and resource profiles based upon the project's risk exposure.
Become familiar with techniques for dynamically monitoring project risks and updating
the risk taxonomy based on project experience.
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Feature
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Description
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Duration
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21 Hours
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Auditorium Size
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20
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Primary Format
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Workshop
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Take-Away
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Textbook
Monte-Carlo Simulator
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Earned value analysis (EVA) is the most effective and widely used approach for objectively
determining project status in use today. Used effectively on projects of all sizes,
EVA simultaneously determines both budget and schedule status for a project and
displays these results in an easy to interpret graphical format.
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This full-day workshop introduces the principles of EVA in a practical, non-theoretical
context with special emphasis on empowering the layman to leverage this important
technique. The workshop explores the linkage bewtween work breakdown structures
(WBS) and earned value and provides important tips on creating and optimizing your
WBS for use in an earned value system. It delves into the concepts of BCWP, ACWP,
and BCWS, key parameters that drive the EVA system.
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Through hands on exercises and case studies, students learn to translate their project
plans into an EVA system, which becomes a sensitive indicator of project status
giving project managers a real-time picture of the state of their projects. The
workshop further explains how to establish the simple measures needed to feed the
EVA system and demonstrates simplified estimation approaches for seeding the system.
Students leave with the practical knowledge necessary to establish their own EVA
systems and with a sophisticated software tool for storing EVA data and automatically
plotting EVA charts.
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Feature
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Description
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Duration
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7 Hours
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Auditorium Size
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20
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Primary Format
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Workshop
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Take-Away
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Earned Value Computer
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This full day workshop introduces the Wide-Band Delphi estimation methodology, a
high-fidelity technique for estimating project parameters (like size or duration
or resources) based on expert input.
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Does your project suffer from an inability to estimate key parameters owing to a
lack of historical data? Wide-band Delphi estimation circumvents this limitation
by engaging teams of experts to perform the estimation tasks in a unique, anonymous
collaboration environment. Learn how to plan and execute a Wide-band Delphi estimation
session, how to select the right experts to participate, and how to ensure the integrity
of the estimates it produces.
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Explore the various uses of this important technique in determining the level of
confidence associated with estimates and updating the project risk profile accordingly.
Participate in an actual Wide-band Delphi estimation session and leave with a software
tool that you can use to implement Wide-band Delphi estimation in your own organization.
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Feature
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Description
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Duration
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7 Hours
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Auditorium Size
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20
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Primary Format
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Workshop
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Take-Away
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Wide-Band Delphi Tool
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