This course covers parts of the Perform Quantitative Risk Analysis process of the Project Risk Management knowledge areas of the PMBOK® Guide and AACE International’s Recommended Practice 57R-09 Integrated Cost and Schedule Risk Analysis using Risk Drivers and Monte Carlo simulation of a CPM Model (revised 2019).

Attendees will review the principles of project scheduling especially the misuse of logic for open ends, constraints, resources, calendars, and statusing. The course presents methods and techniques for collecting high-quality quantitative risk analysis data using confidential interviews.

Attendees will understand fundamental issues of the merge bias, distinction between uncertainty that is implemented with ranging of activity remaining duration and discrete risk events that can be represented by Risk Drivers. Probabilistic and conditional branching are discussed. Integrated cost-schedule risk analysis is presented within a model of schedule risk analysis maturity.


• Find out how much contingency of time would be needed as opposed to relying on a project schedule alone
• Determine how much contingency of cost including the impact of schedule on time-dependent cost is needed
• Understand the basic of scheduling compliant with best practices and to identify scheduling problems needing attention
• Learn why the Risk Register is usually incomplete and how to complete it using confidential risk interviews
• Learn about Monte Carlo simulation and how to interpret the result of a simulation
• Learn about the benefits of using the Risk Drivers method to model the effect of root cause risks on the schedule
• Learn how to prioritize the risk to prepare for the risk mitigation workshop


• Project Control Managers
• Scheduling Managers
• Risk Managers
• Cost Estimators


SGD 4,295 per delegate (Classroom Training)
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