Project Management Training

		*Quantitative Risk Management* An interactive workshop in Quantitative Risk Management technique, consistent with the body of knowledge from the Project Management Institute®, featuring techniques proven in the workplace
Getting Started looking at Risk
There are no facts about the future Are you risk averse? What is quantitative risk analysis?		Risk is about uncertainty, and about estimates of outcomes, all in the future. Projects are not "production" and are subject to many non-systemic risks. Are you a objective risk evaluator, or are there some risks you will not take? Most of us apply "utility" theory, whether we know it or not. Putting numbers to risk is making risk management quantitative. We will explore how to develop, apply, and interpret the key numbers
Introduction to Probability and Statistics
Probability		The number we put on the likelihood that something will occur
Statistics		Data we obtain by analyzing the range of possible outcomes and the probability they will occur
Expected Value		The most important statistic for project managers; the best single-point estimate of a uncertain outcome
The Project Balance Sheet
Sponsors take risks Project Managers take risks Capability and Charters		Projects respond to business need and deliver value for the investment made. Will it pay off? We look at the business case for projects and the risk elements therein Risk is uncertainty of outcome. Risk is probabilistic by its very nature. Consider quantitative and statistical techniques to improve your Risk Management Risk balances capability with project charter outcomes; we'll see how that works.
Cost and Schedule Risk
Risk balances capability with project charter outcomes; we'll see how that works. Merge points in schedules Critical and near critical paths		Deterministic estimates of cost and schedule are unrealistic in most projects. Some accommodation for differing outcomes must be made Schedule architecture and likelihood of meeting milestones is greatly influenced by merge points. What can be done? Are you watching the critical path and the near-critical path? Perhaps you should!
Decision Trees and Tables
Decision Policy Decision Trees		Is your decision making rational? Can it be made so? It is difficult to proceed if you can not adopt a policy for decision making. If the possibilities are discreet, then a decision tree may just be the tool for looking at risk adjusted possibilities.