A PMI Registered Training Course

Advanced Project Economics,
Risk & Decision Analysis

Handling Uncertain Scenarios

PMI® Registered Training Courses

Advanced Project Economics, Risk & Decision Analysis

Scheduled Dates

Classroom

11 - 15 May 2026
Dubai - UAE
$5,950
06 - 10 Jul 2026
London - UK
$5,950
14 - 18 Sep 2026
Dubai - UAE
$5,950
16 - 20 Nov 2026
London - UK
$5,950
28 Dec - 01 Jan 2027
Houston TX - USA
$7,950
29 Mar - 02 Apr 2027
London - UK
$5,950
10 - 14 May 2027
Dubai - UAE
$5,950
05 - 09 Jul 2027
London - UK
$5,950
13 - 17 Sep 2027
Dubai - UAE
$5,950
15 - 19 Nov 2027
London - UK
$5,950
27 - 31 Dec 2027
Houston TX - USA
$7,950

Online

14 - 18 Sep 2026
Online
$4,950
22 - 26 Mar 2027
Online
$4,950
13 - 17 Sep 2027
Online
$4,950

Why Choose this Training Course?

The three biggest planning challenges are predicting costs, assessing profitability, and risk management. All these tasks occur in the early stages of capital planning and failure to adequately evaluate these elements can lead to heavy losses.

This Advanced Project Economics, Risk & Decision Analysis training course will highlight:

  • Identification of the stages required in the risk analysis process, i.e., preparing, modeling, and running risk analysis
  • Development of the risk model, assessing probabilities to various variables, risk analysis, and explore the impact of uncertain variables
  • Enable the participants to create reports such as, tornadoes diagrams, scatter plots and cumulative probability functions, using excel
  • Application of decision trees and Monte Carlo-based simulations to generate profitability indicators
  • Enable the participants to develop probabilistic cashflow reports along with probabilistic profitability indicators for decision-making

What are the Goals?

The primary objectives of this PetroKnowledge Advanced Project Economics, Risk & Decision Analysis training course are to:

  • Learn how to handle uncertainty in projects
  • Understand different economic terms
  • Understand the expected value concept and learn its impact on decision tree analysis
  • Learn expected theory concepts and attitudes towards risk, risk eversion and risk premium
  • Acquire spreadsheet skills including simulation software @RISK
  • Carry out cashflow analysis for project and use common economic indicators to evaluate between competing alternatives
  • Carry out a comprehensive economic study evaluating projects using risk and sensitivity analysis by means of spreadsheets

Who is this Training Course for?

This PetroKnowledge Advanced Project Economics, Risk & Decision Analysis training course is suitable to a wide range of professionals but will greatly benefit:

  • Planning Managers
  • Project Managers
  • Analysts
  • Commercial Managers
  • Economists
  • Government Officials
  • Business Advisors
  • Asset Managers
  • Product Managers
  • Project Management Professionals

How will this Training Course be Presented?

This Advanced Project Economics, Risk & Decision Analysis training course will incorporate a mix of learning methods, including but not limited to, high quality power point slides, short videos and active class participation.

An in-depth knowledge of quantitative risk analysis techniques and hands-on problem solving skills will be developed during this training course . Participants will use PC’s to solve a variety of problems better enabling them to utilize the taught material.

This Advanced Project Economics, Risk & Decision Analysis training course approach will be facilitated using Microsoft Excel add on @Risk module and will further assist in promoting discussions among the participants.

Organisational Impact

By sending delegates on this training course, your organization will benefit by:

  • Learning how to apply economic valuation and risk assessment processes and techniques
  • Help the participants to identify and analyze the risk involved in a project
  • Assist the participants to apply the decision-making procedures to justify the projects in terms of profitability
  • Participants learn the decision analysis process and foundation concepts so they can actively participate in multi-discipline evaluation teams
  • Monte Carlo simulation is discussed and experienced in detail in hands-on exercises
  • Adding value to company’s active projects, through the use of case studies
  • Help participants to recognize and identify the influencing parameters

Personal Impact

By attending this training course, you will:

  • Learn how to describe the elements of the decision analysis process and grasp how construct a project cashflow model incorporating sensitivity analysis
  • Evaluate investment and design alternatives with decision tree analysis
  • Gain the operational decision making techniques using @Risk
  • Gain valuable knowledge in identifying the important uncertainties in projects
  • Enhance your awareness of the influential parameters

Daily Agenda

Day 1: 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 2: 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 3: 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 4: Setting-up Spreadsheet Calculations Using Excel
  • Spreadsheet Calculations
    • Cashflow analysis
    • Sensitivity analysis calculations
    • Tornado diagrams
  • Introduction to Monte Carlo simulations using @Risk
Day 5: 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

Certificate

  • On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
  • On successful completion of this PetroKnowledge training course, Certificate with eligible Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates

Accreditation

PMI® Registered Training Courses

Would an alternative date be more suitable?

We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.

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