Modelling Project Risks

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Contact information

For further information or to request a quotation, please contact the Professional Education Courses Unit on:

Enquiries Phone: 02 5114 5573

Enquiries Email: ProfEdCourses@adfa.edu.au

In-house delivery

UNSW Canberra Professional Education Courses may be available for in-house delivery at your organisation's premises. In-house courses allow maximum attendance without the additional travel costs. Courses can be developed to suit the specific staff development and training needs of your organisation. Recommended for groups of 10 or more.

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.

Presenter

Dr Alireza Abbasi

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).

Course Information

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. 

Courses will be held subject to sufficient registrations. UNSW Canberra reserves the right to cancel a course up to five working days prior to commencement of the course. If a course is cancelled, you will have the opportunity to transfer your registration or be issued a full refund. If registrant cancels within 10 days of course commencement, a 50% registration fee will apply. UNSW Canberra is a registered ACT provider under ESOS Act 2000-CRICOS provider Code 00098G.