Modelling Project Risks
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 existing models to deal with those issues 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 in particular 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 or requirement phase throughout project closure.
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:
- Comprehensive course notes and exercises
- UNSW Canberra certificate of completion/attendance*
- Morning tea, lunch and afternoon tea
- Masters credit: UNSW Canberra allows students who have successfully completed a minimum of 12 days of approved professional education short courses to use those courses as credit in eligible postgraduate programs.
Affiliated courses:
Introduction to Project Management (3 days)
Project Schedule and Budget Control (3 days)
WHO SHOULD ATTEND
Anyone requiring an understanding of project management, including, but not exclusive to;
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Project and program managers |
Risk analyst & Risk managers |
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Aspiring project managers |
Sustainment and acquisition project managers |
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Schedule & Cost analysts |
Systems engineers |
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Technical staff |
Logistic managers |
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Capability development staff |
ILS managers |
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Capability managers |
Contract/Procurement managers |
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Engineers |
Engineering managers |
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Business managers |
Procurement officers |
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Infrastructure Planners |
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COURSE OUTLINE
Projects and Project Management
Discussing what is a project and what are project objectives | Reviewing basic project management concepts | reviewing briefly Capability Life-Cycle (CLC)
Project Risk Management
Main general framework for project risk management such as PMBOK or ISO standards 31000 | Reviewing concepts, strategy, and risk mitigation and requirements setting in CLC
Modelling
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
Exercises
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 Project 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. His research and teaching interests include project management, management science, information systems management and network science. He has written a book, three book chapters and over 60 technical journal and conference papers.
Dr Abbasi has had several appointments and been involved in different projects in IT/Software, Oil, Education and R&D sectors. He is an active member of several professional bodies including Australian Institute of Project Management (AIPM), Project Management Institute (PMI), and Australian and New Zealand Academy of Management (ANZAM).
