Name: The 10-Day Advanced Project Economics & Risk Management Training Course
Rating: 4.7 (1076 reviews)

Scheduled Dates

Classroom

07 - 18 Sep 2026

Dubai - UAE

$11,900

09 - 20 Nov 2026

London - UK

$11,900

06 - 17 Sep 2027

Dubai - UAE

$11,900

08 - 19 Nov 2027

London - UK

$11,900

This training course is split into two modules:

Module I - Project Analysis : Tools & Techniques for Managing Risk & Uncertainty
Module II - Advanced Project Economics, Risk & Decision Analysis

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Modules I, and II back-to-back as a 2-week training course.

Daily Agenda

Module I: Project Analysis : Tools & Techniques for Managing Risk & Uncertainty

Day 1: Fundamentals of Decision Analysis

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: Cash-Flow Modelling and Project Decision Analysis

Financial Modelling and Project Evaluation
Rate of Return Computations (IRR)
Determining the Internal Rate of Return (IRR)
The Risk of not understanding IRR
- Analysing Project Specifics
  - Understanding the Project Context to assist in decision-making
  - Determine stakeholders and their level of influence
  - Capture Requirements
  - Determine Scope of work

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 II: 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

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

In Association With

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Related Categories

Project Management Risk Management

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A PMI Registered Training Course

The 10-Day Advanced Project Economics& Risk Management

Improve Decision-making and Increase Investment Effectiveness