We provide training to individuals for career growth. We offer instructor led training and virtual classes for individuals and corporations for an incredible value.
Were you challenged by 10% of TIC you added in your estimate as contigency?
You know the contingency should come from risk quantification but do you know how to do it?
Risk Subject Matter Expert JOHN ZHAO will help you to unveil the myth of risk quantification
With this training, you will turn yourself into a Risk Management Expert!
i-PCI invites you to:
Nov 24th, 9:00 AM – 4:00 PM MST, Calgary, AB
Save $50 per person on Group Discount Ticket! Minimum 2 tickets purchase required.
Please send email to firstname.lastname@example.org for other payment options.
John Zhao , Director of Riskcore Ltd., is a senior consultant with 30 years experience in infrastructure, oil and gas, pharmaceuticals, petrochemicals, commercial construction, and refining industries. He is a Subject Matter Expert in Quantitative Risk Analysis, having facilitated over 100 risk workshops and conducted Quantitative Risk Analysis sessions totalling over $60 Billion.
– 2008 Canadian Institute EPC Project Risk Management conference in Calgary titled “Risks in EPC World”
– 2008 Palisade @RISK Energy Forum in Calgary titled “The Cost of Risk – Quantification”
– 2010 Palisade @RISK conference in London England titled “Put More Science in Cost Risk Analysis”
– 2011 SPE Technical Conference in Denver USA titled “Understanding and Handling Residual Risks”
– 2013 Canadian institute EPCM conference in Calgary titled “what does an owner company want from EPC firms?”
– 2014 Canadian institute EPCM conference in Calgary titled “Managing Risks of Overseas Engineering and Fabrication”
– 2015 Palisade @RISK Conference in Calgary titled “Quantifying Management Reserves using Binomial Distribution”
Please act quickly, risk quantification workshop is one of the most popular events we hold. They sell out quickly.
Thank you, and hope to see you there.
The i-PCI team
35 Course Contact Hours that you will need to apply for the exam
A Certificate of course completion
PMI PMBOK Guide – electronic version
Student workbook – electronic version
PMP Exam prep book – electronic version
PMP quick reference guide for study – electronic version
Data base of quizzes, 4 exam simulators and flash cards to install on your laptop
One gig of additional PMP study information and examples
PMP Exam Prep Principal Instructor: More than 5 years
Licensed Content Training Partner with Velociteach: www.velociteach.com
Project Manager Experience: 17 years
Education: Master’s Certificate in Advanced Project Management
PMP Training Client:
View Details on LinkedIn: www.linkedin.com/in/kevin-davis-pmp
Module 1 - Foundational Concepts
Module 2 - Process Framework
Module 3 - Integration Management
Module 4 - Scope Management
Module 5 - Time Management
Module 6 - Network Diagramming
Module 7 - Cost Management
Module 8 - Earned Value Management
Module 9 - Quality Management
Module 10 - Human Resource Management
Module 11 - Communications Management
Module 12 - Risk Management
Module 13 - Procurement Management
Module 14 - Stakeholder Management
Module 15 - Pass the PMP
Some major projects in the industry of energy, petrochemicals, mining and infrastructures became train wrecks. Reasons of project failures have been studied by a variety of organizations, and "lack risk management" is one of them. Project Risk management is still a new breed of sound project management despite its development in past dacade or two, refined PMBOK Chapter 11, AACEi DRMP certificate, QRA technique and the other decision supporting systems under risk conditions are all relatively anew with about 10 years of maturity. Whilst many don't really take qualitative risk assessment seriously, only hiring juniors to coordinate the efforts, the QRA process does not have a good fate either. It is not uncommonthat that contingencies are simply added to cost estimates without any QRA process, resulting in either inflated cost estimates (wasting capital) or frequent cost overruns (unrealistic budgets). Methodology of applying QRA is determined by the stage of projects and the purpose of cost estimates, no one single method is superior to the other, a composite solution to consider estimate line item specific risks, project wide systemic risks, execution schedule delay risks, escalation and rare-event driven risks (for management reserve) is worth considering and discussing. RISCORTM risk model was conceived, developed, implemented (in Suncor) and matured since 2005 having applied to 100+ capital projects in both North America and Europe, from $30M to $10Billion projects, from oil & gas to mining, from upstream to pipeline and downstream. This dynamic and stochastic project risk model integrates qualitative and quantitative risk assessment processes and generates convincing and defendable project contingency, to minimize the probability of project failures.
Click Here to Sign Up! The course starts with learning the basics of risk management (RM) and dealing with uncertainty in investment and bid decisions and project control (i.e. the context.) Fundamentals such as terminology and statistics are covered. Attendees will then learn how to elicit information about risks and use it to perform integrated, probabilistic cost and schedule risk analysis for contingency, reserves and escalation in a step-by-step manner in accordance with the text (“Project Risk Quantification”) including exercises to reinforce the lessons. The content is consistent with AACEI Recommended Practices where applicable. Quantification at different project phases is covered, including capturing historical data to improve future risk analyses. In addition, the attendees will learn about landmark empirical research, example cases, tips and rules-of-thumb and watch-outs. Attendees will also be provided with practice guidelines, tools and templates to help put the practices into action at their workplace.
Click Here to Sign Up! When quantitative risk analysis is performed for project cost contingency in capital project world, discrete risks are often ignored as focuses are often on risky items with the "continuous distribution". Those independent, uncorrelated and rare-event driven risks, however, often than not are the culprits that throw the projects upside down. To compensate and to increase the probability of project success, the Management Reserve Fund hence is generated in addition to project contingency. How to properly capture the effects of those discrete risks and their impacts on projects' outcome, what methodology should be used to document and simulate these types of risks are the combination of arts and sciences. This set of presentation provides illustrations with real case studies to showcase the methods and techniques for this application.
Click Here to Sign Up! This presentation will discuss the need for an integrated approach between cost estimating and cost control, instead of treating them as isolated disciplines. Why this is important and what benefits can be held when using an integrated approach will be explained using practical examples. At the end of the presentation, it will be demonstrated how this integrated approach can be achieved with today’s technology.
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