Modelling Project Risks

Course Overview

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:


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;

Project and program managers

Risk analyst & Risk managers

Aspiring project managers

Sustainment and acquisition project managers

Schedule & Cost analysts

Systems engineers

Technical staff

Logistic managers

Capability development staff

ILS managers

Capability managers

Contract/Procurement managers


Engineering managers

Business managers

Procurement officers

Infrastructure Planners



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


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 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).