Project Management Training

Intaver Institute Inc. offers training, consulting, and the RiskyProject software customization

Fore more information please contact Intaver Institute Inc.

303, 6707, Elbow Drive S.W.

Calgary, Alberta, T2V0E5, Canada

General Inquires:

info@intaver.com

Project Risk and Decision Analysis with Focus on New Product Development

Example of 2 day course

Day 1 – Decision Analysis Process and RiskyProject software

1. Introduction to project decision and risk analysis process

Motivations behind project decision analysis process
Project decision and risk analysis workflow – decision framing, evaluation and monitoring
Project decision analysis process and other organizational processes

2. Short overview of decision analysis theory

Psychological biases in heuristics in new product development
Brief overview of quantitative method: decision tree analysis, Monte Carlo simulations, etc.

3. Project planning, budgeting, and scheduling with risks and uncertainties

Risk management: planning, evaluation, monitoring and response
Managing of risk events using event chain methodology
Comparing project costs, revenue and duration with and without risks

4. RiskyProject and New Product Development

Scheduling new product development: identification probabilities and risks
Risk aversion and risk tolerance in new product development
Analysis different project alternatives
Making decisions at the gate

5. Basic Features of RiskyProject 

Scheduling with risk and uncertainties
Quantitative analysis using event chain methodology
Useful tools and reports in RiskyProject

Day 2 – RiskyProject Workflow: Realistic Project Scheduling and Budgeting

1. Project scheduling

Identification of activities and relationship between them, calendars
Material and work resources, fixed and variable cost

2. Risk identification and response planning

Risk properties: probability, impact, outcome, moment of risk, correlations
Local and global risks
Assigning local risks to task and resources
Uncertainties in duration and costs, expressed as statistical distributions
Brainstorming for risk identification

3. Quantitative analysis and interpretation of results

Performing Monte Carlo simulations: convergence monitoring
Results of quantitative analysis: base, low, and high schedules
Cost and duration analysis on each project gate
Chance of project completion (success rate)

4. Sensitivity analysis and reality checks

What risk is most important?
Verifying probabilities and impacts of risks

5. Analysis of cost and revenue on different phases of the project

Probabilistic cashflow diagram
Cost variance: comparing cost with and without risks
Critical and crucial tasks: identification of tasks which affect project schedule at most

6. Project decision analysis: from project schedule to decision tree

Automatic conversion of project schedule to decision tree
Decision tree analysis using Vanguard Studio

7. Short overview of tracking project with uncertainties

Forecast versus actual cost
Risk and uncertainties for partially completed project

8. Integration with project management and business analysis software, reporting

Reporting tools: project dashboard, exporting charts, flexible reporting
Export/import data to/from other software and relational databases

Click here for example of Intaver Institute's project management course