Project Risk Analysis using @RISK Live Web Training
Project Risk Assessment using @RISK is designed to introduce project managers to the concepts and methods necessary for developing a defensible risk analysis. The software used is @RISK and Microsoft Project. Students will discover how to translate known information about a project’s risk into a model that can be used to quantify exposure and test mitigation strategies. Throughout the course, several examples will be presented to the students as class exercises. These examples will demonstrate various modeling techniques, as well as the interpretation of the risk analysis results.
Palisade Corporation is a PMI Registered Education Provider
Project Management Professionals attending this course can earn 4 PMI Professional Development Units.
Upon completion of this course, students will have been exposed to a wide range of modeling methods and will have the necessary prerequisites for performing a risk analysis on schedules using Microsoft Project and @RISK for Project.
Introduction to Project Risk Analysis
Introduction to Probability, Background Statistics, Monte Carlo Simulation, and Common Distributions used in Project Risk Analysis
Getting Started with @RISK
The @RISK Interface: menus, icons, windows and dialogs
Developing a simple schedule model
Adding uncertainty and variation to the Model
Simulating a project schedule
Interpretation of Risk Analysis Results
Determining the probability of finishing a project on time
Determining and allocating schedule contingencies
Performing a sensitivity analysis to determine key drivers affecting total duration
Generating simple reports of result
Using Historical Data to perform Distribution Fitting
Incorporating Expert Opinion in risk analysis models
Advanced @RISK Modeling Techniques:
Creating a probabilistic Gantt charts
Probabilistic and conditional branching
Determining how critical project activities are (critical index)
