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Daily Agenda
Module 1: Project Analysis : Tools & Techniques for Managing Risk & Uncertainty:
DAY 1:
Fundamentals of Decision Analysis
- What is project management decision analysis?
- The purpose of the project business case
- The need for systematic risk management for decision-making
- Risk and uncertainty on projects
- Option analysis
- Identifying key decision-making factors
Measures of Project Profitability
- Fundamental tools of engineering economics
- Time value of money
- Appraisal methods - Discounted Cash Flow Projections
- Time equivalence
DAY 2:
- Financial Modelling and Project Evaluation
- Internal Rate of Return computations (IRR)
- Determining the Internal Rate of Return (IRR)
- The risk of not understanding IRR
- Understanding the project context to assist in decision-making
- Determine stakeholders and their level of influence
- Capture requirements
- Determine scope of work
- Financial Modelling and Project Evaluation
- Internal Rate of Return computations (IRR)
- Determining the Internal Rate of Return (IRR)
- The risk of not understanding IRR
DAY 3:
The Cost of Capital
- Capital & Operating Expenditures (CAPEX / OPEX)
- Estimating the cost of capital for a project
- Benefit-Cost Ratio (BCR)
- Dis-benefits
Risk Modelling in Practice
- Identify Risks
- Forecasting risk impacts & probabilities
- Opportunity costs, sunk costs & salvage value of a project
- Determining the Risk Priorities
- The need for company cash flow
DAY 4:
Decision Analysis: Expected Value Concept
- Basic Probability Concepts
- Fundamental probability concepts
- Mutually & non-mutually exclusive, independent events
- Quantitative Project Risk Analysis
- Semi-quantitative bow-tie process
- Detailed risk quantification and prioritisation
- Expected monetary value
- Scenario planning
- Sensitivity Analysis Tools
- Simulation process
- Tornado diagram
- Defining the variables - PERT
DAY 5:
Decision Trees, EMV, Risk Responses and ROI
- Decision Tree Analysis
- Developing decision trees
- Solving decision trees
- Risk Responses
- Developing risk responses
- Evaluating response relevance
- ROI Analysis
- Understanding ROI
- Identifying ROI
- Evaluating and presenting your project options
Module 2: Advanced Project Economics, Risk & Decision Analysis:
DAY 6:
Development Economics
- A brief history of energy usage
- Principles of development economics
- Understanding of economic terms
- Inflation and its impact on nominal & real cashflows
- Project financing
DAY 7:
Uncertainty in Investments
- Handling uncertainty in capital projects
- Understanding probability concepts
- The expected value concept: features and pitfalls
- Expected Monetary Value (EMV)
- Expected Profitability Index (EPI)
- Expected Opportunity Loss (EOL)
DAY 8:
Risks and Uncertainties
- Risk & uncertainty
- Risk aversion and risk premium
- Exploration project threats and opportunities
- Economic decision criteria
- Decision tree analysis
- Probability distribution
- Monte Carlo simulation
DAY 9:
Setting-up Spreadsheet Calculations Using Excel
- Spreadsheet Calculations
- Cashflow analysis
- Sensitivity analysis calculations
- Tornado diagrams
- Introduction to Monte Carlo simulations using @Risk
DAY 10:
Practical Use of the @Risk add-on
- Developing an integrated economic model
- Developing and using an @Risk Model Analysis
- Project sensitivity analysis utilizing data from @Risk Model
- Training course final review and close
Frequently Asked Questions
There are no prerequisites. Our courses are open to students of all backgrounds who are 18 years of age and older. All courses are conducted in English. Video lectures include English subtitles and the option to slow-down, pause, or replay lectures for better retention. Discussion boards are a critical component of each of our courses; therefore, we suggest students have a conversational knowledge of English when pursuing a Certificate of Completion. For any of the art writing courses, students need to be 100% proficient in written English.
You should have an up-to-date web browser such as: Chrome, Safari, Firefox, or Internet Explorer. For more detailed information, please see the guides for supported browsers and basic computer specifications. Our Online Courses can be accessed on a mobile or tablet device, although we strongly encourage you to have access to a desktop or laptop computer and reliable internet connection for certain course components. Former students have told us it is easiest to read discussion threads and complete written assignments on a laptop or desktop computer.
Registration is available on our website. Just follow these simple steps: Click the “Apply Now” button in the top right corner of your screen. Select “Online Courses.” Choose your course(s). You will be asked for basic contact information and your credit card payment. We require full payment at the time of registration and all tuition is billed in US dollars. Be sure to check with your bank or credit card company, as your financial institution may charge a foreign transaction fee.
Our classes are kept small, at no more than 30 students, to better facilitate and encourage personalized interaction with the instructor and fellow participants. Your classmates come from all over the globe and contribute their global perspectives and experience. Some are currently working within the arts while others are just beginning. All classmates share in their passion for the art world.
It is recommended that you begin your course promptly. If you do need to start the course a few days late, contact your instructor as soon as possible after the course has opened to discuss your options. Registration closes on the Friday after the course begins.
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Course customization available
Course customization available
This training course is available to be conducted at your own pace & at your own time. Request for a quotation now and our training advisor will contact you shortly
