Modelling Project Risks

Course Group: 
Project Management
Course Outline: 

Projects always involve uncertainties and understanding these uncertainties is crucial for developing adequate plan, which is required for effective project monitoring and control, and informed decision-making. Effective modelling techniques, which capture the complexities of projects and uncertainties involved, are therefore necessary for adequate project management. This course looks at those issues, describes some modelling techniques and then discusses their merits and possible synthesis.

This course aims to provide an understanding of the processes, methods, and techniques used to model the project risks including schedule (time) and cost risks. Depending on where in the project life-cycle you apply it, this can help in advising senior management about project strategies and risks when applied in feasibility phase or understanding what happened in the project to learn lessons for the next project when applied in project closure phase.


Duration: 3 days

Delivery mode: Classroom

Location:  Canberra

In-house: All states and neighbouring countries, contact the Professional Education Course Unit for more information. Recommended for groups of 10 or more.

What you will receive:


Affiliated courses:

Introduction to Project Management (3 days) 

Project Schedule and Budget Control (3 days) 



Anyone requiring an understanding of project management, including, but not exclusive to;

Business managers

Technical staff

Aspiring project managers

Systems engineers

Capability development staff


Risk analyst

ILS managers



Projects and Project Management

Discussing what is a project and what are project objectives | Reviewing basic project management concepts

Project Risk Management

Main general framework for project risk management such as PMBOK or ISO standards


What is a model? | How do we model? | Modelling in practice

Uncertainty and Risk

Uncertainty and risk in projects | Cost risk | Time risk | Analysing risk using simulation | Monte Carlo Simulation


The course will cover several exercises on modelling and conducting Monte Carlo simulation reinforcing the concepts discussed in the course.


Dr Alireza Abbasi is Director of Postgraduate Studies and Coordinator of Project Management programs in the University of New South Wales (UNSW) at Canberra. He obtained his PhD in IT Management from the University of Sydney in 2012 before joining the School of Engineering and Information Technology (SEIT) at UNSW Canberra. He also holds a graduate certificate in University Learning and Teaching from UNSW Sydney. He has written a book, three book chapters and over 60 technical journal and conference papers.  His research and teaching interests covers a wide range of topics in project management, management and organisation science, information systems management and network science. Dr Abbasi is a member of Australian Institute of Project Management (MAIPM), Project Management Institute (PMI), and Australian and New Zealand Academy of Management (ANZAM).


28 May 2018 - 30 May 2018
29 October 2018 - 31 October 2018