Course Introduction

Wherever they take place across the globe and in whatever industry sector, projects tend to run late.  Whether it is the IT sector, Engineering Construction, Infrastructure or Resource Projects, a common concern is that projects finish later than planned, sometimes much later.  The bigger the project, the more serious are the consequences of late completion.  A major factor in such overruns is inadequate front-end planning resulting in unrealistic schedules.  Another is failure to produce good schedules that include all the project scope and are technically well put together.  A third factor is failure to consider risk events – things that could go wrong which are not included in the project plan – that could delay the project significantly.

Equip Global’s 4-day Project Schedule Risk Analysis and Management training course aims to equip those who plan projects with the tools and awareness to build comprehensive and well-structured schedules, to produce realistic forecasts of project timing outcomes and reduce the likelihood of schedule overruns.

By attending this Training you will be able to:

• Construct project schedules that incorporate all the project scope;
• Produce schedules that are flexible and responsive to changes in timing so that they immediately show the effects on key milestone dates
• Identify and define risks with impact on the project schedule and develop risk treatments for those posing unacceptable threats to the project timing goals
• Bring significant schedule impact risks into the project schedule to reveal their influence on the likely timing of project completion
• Run an effective Schedule Risk Analysis methodology
• Use the leading Schedule Risk Analysis tool, Oracle’s Primavera Risk Analysis (PRA, formerly Pertmaster Risk Expert), including advanced features such as Probabilistic Branching, Lag Uncertainty, Risk Factors and Weather Modelling
• Use an Enterprise Risk Management database that links to PRA, RiskIntegrator2
• Map schedule risk events into a PRA schedule model
• Gain an understanding of integrating cost & schedule risk analysis using PRA
• Mitigate risks that pose an unacceptable threat to project completion timing in the most cost-effective way
• Assess Schedule Contingency and Management Reserve and Most importantly, enable participants to identify, rank and treat the major drivers of schedule risk and reduce the riskiness of the project

Who Should Attend?

• This course will particularly benefit project planners who want to improve their abilities to build and manage realistic schedules and enter the fascinating and useful world of schedule risk analysis.
• It will also benefit Risk Managers with an understanding of project planning who want to learn how to perform Quantitative Risk Analysis.
• It will enable Project Controls Managers and Project Managers with planning capabilities to understand how to analyse, manage and reduce schedule risk