Probabilistic planning
A probabilistic approach to planning means that risks and uncertainties are taken into account when scheduling and budgeting a project. Typically, Monte Carlo simulation is used as a technique to calculate the impact of these uncertainties on the plan. This course takes a tool-agnostic approach towards cost / schedule risk analysis. A tool specific training is recommended as follow-up.
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Why this training
Any project is subject to risks & uncertainties. When planning a project, it is thus wise to take them into account. A probabilistic approach is doing exactly this. Because of the multitude of Monte Carlo simulation tools on the market, a tool agnostic approach has been chosen for this training.
Learning goals
- Fully understand the ins and outs of probabilistic planning and its quality criteria
- Assume an important role in probabilistic planning (without actively controlling the buttons)
- Learn any tool for probabilistic scheduling & planning very effectively
Sections
- About Probabilistic Planning
- Input and Quality Check
- Creating the Risk Model
- Running a Risk Analysis
- Output & Reporting
- Special Topics
Learning method
Classroom teaching with many interpretation exercises.
Target audience
Project controls engineers that have a very good basis in scheduling and a basic understanding of risk management. An affinity with statistics is highly recommended.
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