Quantitative Project Risk Register
What you'll learn
- Using Monte Carlo simulation to quantify project risks and replace qualitative risk analysis.
Requirements
- Intermediate Excel
Description
This course starts by explaining traditional qualitative risk registers and risk matrices. We explain why this methodology of listing risks for a project or company is full of weaknesses and flaws, in its attempt to use frequency and severity components to build a risk analysis. By comparison, we will carefully build a case for quantitative risk analysis for a project, using an @RISK’s Monte Carlo simulation approach. Along the many lessons, we carefully add all the components on how to build a robust risk register, able to build probabilistic contingencies on a project. We add proper distributions for dealing with frequency and severity, simulation techniques, correlation, scenario analysis, and optimization of mitigation strategies. At the end, we compare qualitative and quantitative risk analysis powered by simulation.
Who this course is for:
- Project specialists , project managers, project risk managers, @RISK practitioners
Course content
- Preview05:06
- Preview01:49
- Preview04:37
Instructor
![Fernando Hernandez](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.3 Instructor Rating
- 58 Reviews
- 233 Students
- 10 Courses
Fernando Hernandez has served as senior risk and decisions consultant and instructor for Palisade Corporation since 2003. As such, he has developed risk quantification models in North, Central and South America, Europe, Australia, Africa and the Middle East for clients in multiple industries such as project management, oil & gas, mining, telecommunications, transportation, manufacturing, finance, banking and insurance. He has taught courses and given lectures on risk quantification, decision making, optimization, statistics and strategic finance. He has delivered over 10,000 hours on the past fifteen years of his consulting/training practice, having visited more than 150 clients in some thirty five countries.
Prior to his involvement as a consultant in Palisade Corporation, Fernando chaired CFO positions in multinational and local companies in various industries: banking, manufacturing, hospital services, consumer goods, information technology. He also taught MBA courses such as: Introduction to Corporate Finance, Financial Simulation and investment Decisions. Since 1992, he has built financial models, risk models and feasibility studies using @RISK.
Fernando earned his degree in Financial Management at the University of Costa Rica. As a Fulbright scholar awarded by the U.S. government, he obtained an MBA from Indiana University with a major in Finance and Management Information Systems.