Program Post-Conference Workshop

Project Risk Management and Analyses in Qualitative and Quantitative Ways

Date: November 8 – 9, 2019
Time: 8:00 AM – 4:30 PM
Location: Associations Plus (#600, 900 6 Avenue SW)
Speaker: John Zhao

Who Should Attend?

  • Direct Functions for the Shutdown
    • Project Director / Manager: Accountable for final outcome and results of project delivery and making decisions on risks
    • Project / Construction Manager: Responsible for taking mitigation actions to reduce risks’ severity levels and deploy contingency
    • HSE, Maintenance Engineering, Planning, Operations and Interfaces: Responsible for preparing and developing baseline project schedule and cost estimates as inputs to QRA
  • Indirect and Supporting Functions
      • Supply Chain Management (materials purchases & contracts)
      • Scheduler & Cost Estimators & Project Controls (cost, time & finances)
      • Quality Assurance & Inspection; Warehousing & Logistics
      • Other Project team members who will later participate in risk workshops


PMI-SAC Member  $550.00 $450.00
Non-Member – Full Conference $650.00 $550.00
Workshop & Course Outline:
  • Risk, Risk Analysis & Contingency
    • Risk…qualification
      • “RISK” has become a buzz word but it is the least understood concept in Project Management and the construction industry as a whole.
    • Risk…quantification
      • Monte Carlo simulation is used to quantify project risks and derive contingency for a project but it is often dubbed as a “black box” even to project controls
    • Risk…contingency
      • Project “contingency” has long been causing controversial discussion in project controls. The depletion and management of contingency are mysterious.
  • Cost and Schedule Risk Analysis Technique
    • How to use MC for Project Schedule and Estimate Risk Anlaysis
    • Schedule & Cost Risk Analysis Process, Technique and Tools
    • Integrating SRA with CRA to scientifically derive Contingency
  • Day 1
    • Chapter 1: Projects, Risks and PRM Development
    • Chapter 2: Qualitative Risk Management & Risk Register
    • Chapter 3: ALARP Principle and Residual Risk Management
    • Group Exercise: Risk Register for a Construction Project (a Mock Workshop)
    • Chapter 4: Uncertainty, Risks and Decisions
    • Chapter 5: Risk Quantification and Analysis
    • Chapter 6: Mysterious Project Contingency
  • Day 2
    • Chapter 7: Risk Distribution (for Cost and Schedule)
    • Chapter 8: Simulation & Modelling for Contingency using @RISK
    • Chapter 9: Schedule Risk Analysis (SRA) using PertMaster / PRA
    • Group Exercise: Systemic Risks & Opportunities (a Mock Workshop)
    • Chapter 10: Cost Estimate Risk Contingency Simulation
    • Chapter 11: Techniques to Building a Cost Risk Analysis Model
    • Chapter 12: Application of Management Reserve
Speaker Biography: John Zhao

With over 27 years’ experience in the construction industry, John has had the opportunity to work for EPC consulting firms and Owners on a diverse range of projects. His portfolio includes project management experience with Oil & Gas, public works, water treatment facilities, pharmaceutical, and buildings projects. John holds a Masters in Project Management (Construction) from the University of Northumbria at Newcastle.

John’s passion is project risk management. He has been a featured speaker on risk management at industry conferences around the world, and instructor on risk management for AACE International, University of Calgary, Mount Royal College, SAIT and PMI.

About Riskcore

Riskcore is a project risk management consulting firm registered in the Alberta of Canada offering the following specialized professional services:

  • Facilitating qualitative risk workshops for risk assessment, responses and residual risk severity levels;
  • Soliciting inputs and modelling quantitative cost estimate risks for contingencies, escalation and chances of overruns;
  • Providing independent, unbiased and risk-based project readiness reviews at any given governance gate;
  • Conducting onsite project management gap assessments and audits against the best practices;

RISCOR is a Monte Carlo based simulation model developed in 2005 by Riskcore for Class 3 cost estimate contingency and escalation. It has been used to derive contingencies for projects worth of $15 Billion in 2017/18, $65B+ in total.

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