This Highly Discounted & Limited Time Offer for "Early Bird Enrollment" Will End in
Confidently Kickstart
Project Cost and Schedule Risk Analysis
in Your Next Project
In 60 Days or Less!
AND CLAIM YOUR STAKE IN ONE OF THE FASTEST GROWING PROJECT MANAGEMENT FIELDS
( Without the raging overwhelm, complex statistical and modeling hangups, and software literacy)
How confident are you in your project’s cost estimate or schedule completion date?
Aren't you tired of committing to unrealistic time and cost targets?
Don't you want to know the probability of meeting your project's cost and schedule objectives?
As a project controls professional, project planner/ scheduler, cost estimator, project/ program manager, or a project leader, you want to lead your project to a successful completion, right?
But, you probably know that majority of projects often go off the rails, because of....
- Over-optimism and overcomplexity, resulting from costs and timeline targets that are underestimated. ( Source: McKinsey & Company)
- Disputes between owners and contractors due to a lack of understanding of contract and apportionment of risk (Source: Arcadis, 2020: Global Disputes Report)
- Ignoring risk management and administration that would have had the greatest impact on avoiding disputes (Source: Arcadis, 2020: Global Disputes Report)
You know, projects are always risky, but conducting a Quantitative Risk Assessment reduces the possibility of delivering overoptimistic cost and schedule targets, boosts the confidence in your project’s cost estimate or your schedule completion date, and therefore increases the likelihood of your project success.
Irrespective of your level in your organization and whether you are working on a multibillion-dollar airport project or a $100k remediation project, by understanding the correct foundational approaches to Quantitative Risk Analysis (QRA), you will be able to deliver more realistic project plans that can guide the project to the successful completion.
So, isn’t it time to take Cost & Schedule Risk Analysis more seriously in your projects?
Here’s What You Might NOT Know
Despite the huge benefits that every project gains by conducting the quantitative risk assessment, there is only a very small group of project professionals who practice quantitative risk management.
Why?
Because the majority of people think that Quantitative Risk Assessment is...
❌ Too complicated
❌ Time-consuming
❌ Expensive
Here is probably what you don’t know about the Quantitative Risk Assessment (QRA):
1. Quantitative Risk Assessment (QRA) is NOT Complicated!
Many believe that Quantittaive Risk Assessment is a dark art – you need to be a stats genius to understand it!
Ok, I get it - mathematics and statistics can be hard! QRA’s do rely on statistics, but a detailed understanding of them is not essential.
You don't need to be a Mechanical Engineer to drive a car, but you know when the red gas light comes on, you need more fuel.
Being able to understand what high-quality inputs look like and see the warning lights from a QRA output helps you properly respond and make informed decisions to support successful project delivery.
QRA is much easier than you think! You might not just have been exposed to it yet!
2. Quantitative Risk Assessment (QRA) is NOT Time-Consuming & Expensive
"QRAs take forever - I don’t have the time or budget to complete a QRA!"- That’s what many think about QRAs, so they avoid it altogether.
Well, the cost and schedule impact of NOT identifying and managing project risks far outweigh the cost of performing a QRA.
Furthermore, you don’t need to run QRA to its full extent for every project. Your approach to a QRA can be tailored to your project size and budget.
For smaller, simpler projects there may be no need for a QRA at all – just identifying and scoring the risks may be enough.
3. The majority of high performing organizations and project professionals are the ones who practice “risk management”
A survey by the Project Management Institute (PMI) found that 83% of high performing organizations in project management regularly practice risk management.
If you are still thinking “I’m not sure how QRA will benefit my project?!”, I have to tell you that:
If you are not managing risks on your project you are not truly managing your project.
Every project can and will benefit from a risk assessment.
And YOU can be the ONE who transforms the project success rate!
What If You Could….
✅ Claim your stake in one of the much-needed project management fields; Quantitative Risk Assessment, which is becoming even more important in these unprecedented times
✅ Kickstart in Quantitative Risk Assessment with little or no previous experience in risk and no knowledge of statistics
✅ Conduct risk workshops with confidence, run statistical models and analyze the outputs with ease
✅ Determine the project’s cost and time contingencies and assess the possibility of achieving the end targets
✅ Provide insight into the likelihood of project success
✅ Develop your skills in risk management and standout from the crowd for your competency
✅ Advance your career to the next level of success
Is this all possible without any prior experience or knowledge in risk management and statistical modeling?
YES, absolutely.
That’s why we have developed the most practical and step-by-step training program in Cost & Schedule Risk Analysis.
Introducing
Quantitative Project Cost and Schedule Risk Analysis Training
Discover How to Quantify Project Risks Effectively, So You Can Develop Realistic Time and Cost Targets
The good news is that we have developed the most practical online course in cost and schedule risk analysis that allows you to run your own quantitative risk assessments by the completion of this training.
This course is based on the training that the instructor has given to his new risk analysts, with little or no previous experience in risk, when they first joined his team.
The series of the modules in this comprehensive applied course is designed to provide you accelerated learning in every facet of project risk management, so you can enter risk management roles at the earliest opportunity.
Rather than getting overwhelmed with theory and abstract ideas, you’ll get engaged in detailed case studies that mimic real-life projects and demonstrate how risk management solutions can be applied.
Examples and exercises have been developed to support your learning and help you get some much-needed experience in providing actual risk management solutions.
The modules are designed in a short snackable format, enabling you to learn at your own pace and fit this course around your busy day.
This practical course provides you tools, techniques, and most importantly confidence to take your first few steps into the world of quantitative risk assessment.
Course Outline & Agenda
The Quantitative Project Cost and Schedule Risk Analysis training spans over 16 modules, which takes around 4 weeks to complete.
Each module will introduce you to the Quantitative Risk Assessment concepts, from writing a Risk Management Plan to conducting a quantitative cost & schedule risk assessment, reporting, and mitigation.
In addition to understanding the fundamentals, you will experiment with applying the principles of the cost and schedule risk analysis in a sample project in every module of the course, which allows you to have practical experience of the quantitative risk assessment.
The combination of real-life examples and hands-on case studies throughout the course allows you to run your own quantitative risk assessments (with some supervision) by the completion of this training.
To get started, all you need to have is a basic understanding of project management concepts and a moderate competency in MS Excel and Primavera P6.
Here is the course agenda and what is covered in each session of the program ( Each session will be conducted LIVE from 9:00 am to 11:00 am US Central time (CDT)):
SESSION 1
Tuesday, January 5, 2021
Module 1- Introduction to Risk Management
Gain an understanding of risk management and its benefits, types of risks, and key outputs.
Module 2- Writing A Risk Management Plan
Explore why every project needs a risk management plan and what should be contained within the plan itself. This module also serves as an overview for a standard project/program risk management process (which will be covered in the rest of the course).
SESSION 2
Friday, January 8, 2021
Module 3- Risk Identification Part 1- Understand Your Project and Review Documents
The quality of any risk assessment is wholly dependent on the quality of the inputs. These inputs are normally in the form of project documents. It is imperative to review and understand these documents. During a document review, you should highlight any gaps, data quality issues, or anomalies. This module gives you a step by step guide on what you should do prior to any risk identification workshop.
Module 4- Risk Identification Part 2- Risk Workshops
One of the most effective ways to identify risks is in risk workshops. Successful risk workshops are dependent on the quality of the data inputs and the engagement of the right attendees. This module shows you how you can plan and run a risk assessment to identify risks.
SESSION 3
Tuesday, January 12, 2021
Module 5- Risk Registers and Scoring Risks
A risk register should be clear, concise, and informative. The qualitative scoring of these risks allows management time to focus on the most critical risks and issues. In this module, you will learn what a risk register should contain and how to score risks based on an organization’s objectives and risk tolerance thresholds.
Module 6- Statistics Refresher
This module offers a quick refresher in basic statistical concepts and terms used in Quantitative Risk Assessments.
SESSION 4
Friday, January 15, 2021
Module 7- Quantitative Cost Risk Assessments Part 1- Understanding your Estimate
Reviewing and ranging estimates does not assume an estimate is wrong but helps to account for natural variations in quantities, unit costs, and labor rates. In this module, you’ll be equipped with a step-by-step approach for building a cost Monte Carlo Model for an estimate.
Module 8- Quantitative Cost Risk Assessments Part 2- Building a Risk Model
The purpose is to better assess the likelihood of certain risks occurring and to ensure that appropriate budget contingencies exist to manage those risks. This module will provide you with a step-by-step approach to apply a cost Monte Carlo model to your risk register.
SESSION 5
Tuesday, January 19, 2021
Case Study Walkthrough from Previous 4 Sessions with Live Q&As
Module 9- Quantitative Cost Risk Assessments Part 2- Advanced
This module will cover advanced cost risk assessment modeling techniques.
SESSION 6
Friday, January 22, 2021
Module 10- Quantitative Schedule Risk Assessments – Part 1- Understanding Your Schedule
Reviewing and ranging schedules does not assume a schedule is wrong but helps to account for natural variations in quantities, and production rates. This module provides you with a step-by-step approach to reviewing a schedule prior to a Monte Carlo Analysis.
Module 11- Quantitative Schedule Risk Assessments – Part 2- Building a Schedule Risk Model
This module will cover a step by step approach on how to add risks to a schedule and perform a Monte Carlo Analysis.
SESSION 7
Monday, January 25, 2021
Module 12- Advanced Quantitative Schedule Risk Assessments
This module will equip you with advanced modeling techniques for schedule risk analysis.
Module 13- Building an Integrated Cost & Schedule Risk Modes
Cost estimates may no longer reflect the project reality as schedules slip and one of the major components of those estimates, activity duration, change. This module will go over three strategies for calculating the risk impacted cost of delay, highlighting the positives and negatives of each approach.
SESSION 8
Wednesday, January 27, 2021
Case Study Walkthrough of the Previous 3 Sessions with live Q&As
Module 14- Contingency Management
In this module, you will discover how drawdown curves can be used to manage both cost and schedule contingency.
SESSION 9
Friday, January 29, 2021
Module 15- Risk Reporting, Mitigation, and KPIs
In many ways, risk reporting is the most important aspect of the whole risk assessment process, as the data and format we present will advise managers on how to make effective risk-based decisions. This module will show you how to display and report various types of risk outputs and also how to develop effective risk mitigation strategies.
Module 16- Quantitative Risk Analysis Summary & Action Steps
This final session will serve as a review of the previous 15 modules, highlighting the major learning points to act as a quick reference guide for any risk assessment you hold in the future.
How Does It Work?
To access the training, all you need is a high-speed Internet connection via Google Chrome, Safari, or Internet Explorer 9 or newer. You also need a login ID & Passcode to our private and secure learning management system (LMS), which is provided to you via email once you enroll.
LMS and the live streaming platform we use will be accessible via desktop computer, laptop, as well as mobile devices such as iPhone, iPad, Tablets, etc.
It is recommended that you attend each training session live. However, if you have a schedule conflict, you can catch up with the program by watching the recorded session(s) in Project Control Academy’s Learning Management System.
If you follow the program according to the live training schedule, you will be able to finish the course in 4 weeks. However, you have access to the entire course material for one year after your enrollment. You can refer back to the course videos and material at any time.
What You’ll Gain Upon the Completion of the Training
At its heart, Quantitative Risk Analysis (QRA) is about being able to ask the right questions to get the right information from the right people.
What this course aims to show is that you don’t need to have in-depth knowledge in a particular area to hold risk assessments. It’s about being able to get the information from the experts who do.
The instructor holds around 30 risk workshops a year on projects ranging from major bridges, metro rail systems to nuclear power stations and this course should offer you the building blocks to get to that position too.
This course will enable you to look at a project holistically and understand where project risks typically lurk.
We will provide you with the technical tools to plan, build, and run your own risk assessments.
Aside from the technical side of risk assessments, the ability to chair meetings, facilitate risk workshops, and effectively present complex data to non-specialist will serve as one of the key differentiators wherever your career takes you. This course will give you the tools to develop these skills and stand out.
For more experienced professions, more and more risk management is getting popular with senior leadership and is a central part of program controls and decision making. An understanding of the QRA process and how to use its outputs is increasingly critical, which you’ll gain upon the completion of this training.
Upon the successful completion of the training, you will also be granted an official certificate of completion and 40 Professional Development Units (PDUs) that you can claim towards your professional accreditations
What Is UNIQUE About This Training?
Here are several key unique points about this training that you wouldn’t find in other training courses in the market:
➡️ Presented by a quantitative risk management expert who has extensive experience in risk management and led risk management on a wide range of multibillion-dollar programs for both large public agencies and private sector clients.
➡️ Based on the training that the instructor has given to his new risk analysts, with little to no previous experience in risk, when they first joined his team. The series of the modules in this comprehensive applied course is designed to provide you accelerated learning in every facet of project risk management, so you can enter risk management roles at the earliest opportunity.
➡️ The most practical online course in the Quantitative Risk Assessment, where you apply the principles of the cost and schedule risk analysis through a sample project case study throughout the course. The course case study mimics real-life projects and helps you explore how risk management solutions can be applied. Furthermore, examples and exercises have been developed to support your learning and help you get some much-needed experience in providing actual risk management solutions.
➡️ Step-by-step implementation and guidance, which enables you to apply your learning in a project environment immediately and achieve a significantly more robust result.
➡️ Allows you to run your own quantitative risk assessments (with some supervision) by the completion of this training.
➡️ Fully aligned with PMI Recommended Practices and standards, so you speak the industry-standard language.
➡️ Provides support. You can ask the instructor any relevant question during the live sessions as well as after the course is completed for one full year! Furthermore, you will get new training material and resources on a weekly basis to ensure your continuous learning.
➡️ Provides an official certificate of completion and 40+ Professional Development Units (PDUs).
➡️ The most reasonable price for the course, according to the market research analysis of other courses in the market. You will get the most value for the money invested.
Who Is This Training For?
This training is for you if…
✔ You are a Project Controls professional who is interested in having accelerated learning in project risk management, so you can enter risk management roles at the earliest opportunity.
✔ You are a project Planner/Scheduler who wants to get into the analysis of risks and understand how to perform schedule risk analysis, so you can provide a confidence level and probability of achieving the schedule completion date.
✔ You are a Cost Estimator who is keen to have a more objective assessment of the estimate contingency.
✔ You are a Project/ Program Manager who is interested in gaining a greater insight into risk analysis, so you can increase the likelihood of winning profitable bids and improve the operational management of risks during the execution of a project.
✔ You are a project leader who is interested in acquiring updated and practical knowledge in quantitative risk management to make informed decisions and guide the project in the right direction.
✔ You are new to the world of Risk Management and have little or no experience in risk modeling, statists, risk analysis, and reporting.
✔ You already have been engaged in some Quantitative Risk Analysis, but you’d like to get formal training to brush up your knowledge or get practical guidance in conducting cost and schedule risk analysis in your projects.
Is This Training For Me if ….
➡️ I have “No Experience” with Quantitative Risk Analysis (QRA)
No problem at all - This course is based on the training that the instructor gives to his new analysts when they first start on his team. These are project professionals with little to no previous experience in risk. However, they could enter risk management roles at the earliest opportunity through this applied and accelerated training course.
We will use detailed case studies to mimic real-life projects, so you can gain some all-important hands-on experience and get started in QRA right away.
➡️ I'm not very good at Statistics or Monte Carlo analysis
Although Quantitative Risk Analysis (QRA) relies on statistical models, an intrinsic understanding of how they work is not essential.
Like the way you do not need master’s in mechanical engineering to drive a car, you don’t need a detailed knowledge of stats to understand and use the outputs from a QRA. We all know if the fuel light comes on our dashboard we need to stop for more gas. Being able to understand the warning lights from a QRA output helps us to react and make informed decisions to support successful project delivery.
One of the key aims of this course is to help explain statistical outputs in a simple way to non-specialists.
We will also provide a statistics refresher during the course.
On the other hand, successful QRAs are far more dependent on the quality of the inputs and how you present and explain the outputs to decision-makers. In this course, we will give you the methodology to achieve this.
We will also show you how to build your own fairly simple models, which should be applicable to most QRAs.
➡️ I have no experience running a workshop
We have a whole module on risk workshops, in which we will show you how to plan and run a workshop. You’ll learn facilitation techniques and how to cope with various types of workshop attendees.
➡️ Risk management has no real traction at my company/employer
The most important aspect of successful QRA is providing buy-in. This course will show you how to promote risk management, hold successful risk workshops, and effectively present the results.
Who Is This Course NOT For?
This training is NOT for those who….
❌ Don’t have a basic understanding of project scheduling, cost estimating, and project management concepts.
❌ Don’t enjoy working with numbers and analyzing the outputs of a graphical report.
Are There Any Pre-Requisites to This Course?
To take this training all you need is:
➥ A reasonable understanding of project management, project scheduling, and cost estimating concepts
➥ A basic understanding of mathematics as some of the modules will cover statistics and probabilities at a high level
➥ Some experience with Primavera P6 or another scheduling tool and moderate MS Excel skills
Is Any Software Required for The Course Case Study?
It is important that you have a basic working knowledge of Excel. However, no prior experience using Quantitative Risk Assessment (QRA) software such as @RISK, Safran, Crystal Ball, or other simulation tool is required.
The example case study will be performed using Safran and @Risk software with Microsoft Excel, but the principles of the course can be applied to any QRA software. You can also choose to use another Monte Carlo package of your choice.
As for the course case studies, we recommend that you install the trial version of @Risk (15-day trial) and Safran (30-day trial), or any other QRA software of your choice, so you can experiment with what you learn in the course and solve hands-on case studies. You don't need the software until around Module 7 of the course. We will keep you posted during the course on when to install the software trials.
Would This Course Make Me Ready for The Certified Risk Management Professional (PMI-RMP) or Any Other Relevant Certification?
The course will follow the PMI’s risk management process and use PMI terminology where applicable.
The course could be used to help support exam prep, but we would recommend using other resources required for the certification exams such as the PMI’s Risk Standard of Practice.
This Training Comes with Awesome Benefits and Bonuses that You Cannot Miss!
24/7 Access for 12 Months
Study at your own pace, whatever time of night or day it happens to be or wherever in the world you might be.
Although the modules will be conducted live every week for 4 weeks, you will have full access to the recorded sessions and course material for one year from the time of your registration.
Official Certificate of Completion and PDUs
Receive an official certificate of completion upon successful completion of the training and claim 40 Professional Development Units (PDUs) earned toward maintaining your license(s) with professional associations.
Course Material & Supportive Documents
Get the PDF copy of the course slides as well as additional bonus material and resources, such as checklists, templates, technical papers, etc.
In-Depth Case Study
Solve in-depth case studies that help you comprehend the course content and enable you to experiment the real-life projects.
Private and Secure
Get access to all the training materials on our secure and robust learning management system using your private username and password.
Mobile Friendly
Get access to the course via computer, laptop, as well as mobile devices such as iPhone, iPad, Tablets, etc. This makes your learning more flexible & adaptable.
Access To "Ask The Instructor Forum" (Value: PRICELESS)
Ask your questions from the instructor live during the live sessions, with some open mic questions depending on the timing.
Get access to a private course environment for Q&As, where the instructor personally answers your questions on a weekly basis.
Depending on the number of questions on the course, we may also conduct monthly or live Q&A sessions with the instructor.
Live Monthly Project Control Training Webcasts For 1 Year
Learn a new Project Controls related topic, strategy, tactic, or tool every month for 12 months.
Special Alumni Discounts
Receive exclusive discounts on future online training programs in our Learning Management System, as our valued client.
You Will Also Receive the Following Extra Bonuses for Early Sign-up
Risk Register Template
Equip yourself with a simple risk register template that you should be able to use on projects of any size. This template can be used as a starting point for any risk assessment.
@Risk Model Template
An @risk model that you can use and adapt for cost risk analysis on any project.
Risk Management Plan Template
Prior to starting any risk process, it is important everyone understands how and why risk management will be applied. This template ensures you will cover all the critical steps on risk management.
Risk Report Template
Making sure decision-makers focus and understand the critical risks is imperative for the successful application of QRAs. This simple concise report will support you in this important step.
Estimate Risk Review Checklist
A QRA is only as good as its inputs - this checklist will help you review an estimate, which will help you deliver a high-quality QRA.
Schedule Review Checklist
A QRA is only as good as its inputs - this checklist will help you review a schedule, which will help you deliver a high-quality QRA.
Risk Workshop Checklist
A successful risk workshop is the most important step in any QRA. This checklist will help you prepare and run better risk workshops.
Cost Risk Model Quality Assessment Checklist
Whether you are reviewing your own cost model or supporting other team members, this checklist acts as a quick quality review to ensure you deliver high-quality output, every time.
Schedule Risk Model Quality Assessment Checklist
Whether you are reviewing your own schedule model or supporting other team members, this checklist acts as a quick quality review to ensure you deliver high-quality output, every time.
What Is Tuition?
When you register today, in addition to getting exclusive 12-month access to the Quantitative Project Cost and Schedule Risk Analysis online training program, you will also get a 12-month complimentary service and bonus training.
The Value of the Training Program including its bonuses:
Over $10,000
Your investment:
Only $1,297 $997
For the entire training program and the bonuses
With a $1,297 $997 investment, you can begin your journey as an expert. The return on this small investment will be substantial once you learn how to quantify project risks effectively, run risk workshops with confidence, analyze the outputs with ease, provide the project’s cost and time contingencies, lead the project in the right direction, and finally advance your career to the next level of performance.
Quantitative Project Cost & Schedule
Risk Analysis
Online Training Program
✔ Online training delivered live in 8 sessions over 4 weeks
✔ 12 months of access to the instructor
✔ 24/7 access to the training material for 12 months
✔ Great bonuses you don't want to miss
✔ Official certificate of completion and 40 PDUs
✔ Course material and supportive document
✔ Private and secure learning management system
✔ $300 Off the regular registration fee as an "Early Bird Registration Discount"
About the Instructor
Richard Citrine
Richard Citrine, a certified Risk Management Professional (PMI-RMP) and a Principal Risk Manager bring over a decade of experience in risk and value management. He has led risk management on a wide range of multibillion-dollar rail, aviation, and tunneling programs in the UK and the USA.
Richard has extensive experience in risk management and has completed complex analysis on a variety of large infrastructure and building projects for both large public agencies and private sector clients.
He has completed entire risk analysis on projects including facilitation of risk workshops, development of cost and schedule risk models, risk analysis, and detailed report writing.
Richard’s specific skill sets include workshop facilitation, risk analysis, Monte Carlo simulation, CPM scheduling, schedule variance analysis, earned value analysis, contract reviews, procurement, bid leveling, and value engineering.
As the leader of Arcadis’ Risk Management Community of Practice, Richard engages his team of experts to develop company best practices and risk management tools, share knowledge, and discuss lessons learned. This includes proactively identifying and managing risks and using Monte Carlo simulations to assist in budget and schedule contingency planning. Richard regularly provides risk management training to internal and external audiences.
