IPS3-501: Project Risk Management in Primavera Risk Analysis

This course provides training for Primavera's Risk Analysis solution. Participants will gain a thorough background in the basic concepts of risk management. This two-day class leads you through examples of specific risk modeling techniques using Primavera Risk Analysis software.  Objectives of the course include how to apply a risk assessment to a project schedule, resources and costs. Interpret, communicate and justify a risk analysis to the project team, management and stakeholders. Use risk management to improve your project management, set targets and contingency, set corporate and customer expectations.

Course level: Basic
Targeted roles: Business Analysts, functional implementers, project managers.
Course length: 2 days
Prerequisite: Fundamental project management training, knowledge of MS Windows.

Course Topics:

Basic schedule and cost risk analysis theory

RIsk Methodology

Schedule Review

Using three-point estimates for activities

Running a quantitative risk analysis

Understanding results (histograms, tornado charts)

Understanding project drivers (duration sensitivity, criticality)

Introduction to the Risk Register

Integration with Primavera and Microsoft Project

Cost and Resource Uncertainty

Risk assessment templating

Correlation

Probabilistic branching

Risk Register (Risk Events)

Response planning - cost/benefit analysis