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In past 15 years, Riskcore has teamed up with PMI, AACE, local universities and other training organizations to provide project cost and risk management training courses through public offerings, corporate training programs and classroom settings at various educational institutions and venues. The training so far has benefited over 1,000 individuals for their career advancement and job satisfaction.

​A training session is typically offered publicly for registration 3-month in advance of their start. The sessions are offered either on-line or physically in a classroom. 


Corporate training is offered by requests.

Individuals who are keen on learning about project risk management may contact Riskcore for free reading materials, personal coaching, mentoring and career advice.

Training Text Book (PDF):

"Risk Management for Energy Projects"

A Comprehensive Guide to Project Controls and Management 

JOHN G. ZHAO - July 2010
ISBN: 978-1-4094-0433-0 (Hardback);  ISBN: 978-1-4094-0434-7 (E-Book); Gower Publishing, Wey Court East, Union Road, Farnham, Surrey,

"Project Risk Management, Assessment & Analysis"

Process, Technique and Industry Practice

JOHN G. ZHAO - November 2019

Risk and PMI (Southern Alberta Chapter) Training Manual

If you risk nothing, then you risk everything.”

— Geena Davis 

Risk Management Training Course Outline

Risk, Risk Analysis and Contingency - Risk Qualification Process

“RISK” has become a buzz word but it is the least understood concept in Project Management and the construction industry as a whole.

Monte Carlo Simulation - Risk Quantification Process

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.


Project Risk Fund - Risk Contingency

Contingency has long been causing controversial discussions in project controls.  The depletion and management of contingency are true mysterious.


Cost and Schedule Risk Analysis Simulation Technique

    Monte Carlo Simulation for Project Schedule and Cost Estimate Risk Analysis

    Project Schedule & Cost Estimate Risk Analysis Process, Technique / Tools

    Systemic & Specific Risks for Contingency and Residual Risks for Reserve


Who should attend the Training?

Direct Functions for Decision Makers

  • Project VP, Directors and Senior Managers

  • Accountable for final outcomes and results of project decisions on risks;

  • Engineering, Execution and Construction Managers

  • Responsible for risk mitigation actions to reduce risks’ severity levels;

  • Regulatory & Stakeholder Engagement, HSE, C&SU and Operations

  • he respective functions to be Consulted and Informed of risks & decisions;

Indirect and Supporting Functions to Project Decisions and Executions

  • Supply Chain Management (materials purchases & contract Formation);

  • Planner & Cost Estimators & Project Controls (cost, time & finances);

  • Quality Assurance & Inspection; Change & Interface Management;

  • Other Project team members who may participate in risk workshops;


Risk Management Learning Objectives

 Day 1: Qualitative Project Risk Assessment

  •  Setting up a sound Project Risk Management System in an organization

  • All Stakeholders are familiar with PRMP Process and have risk awareness

  • Building and Updating Project or Organizational Risk Register / Inventory

  • All potential risks can be periodically identified and ranked for their severity

  • Risk Owners assign risk response plans and actions to monitor for residuals

 Day 2: Quantitative Project Risk Analysis

  • Understand concepts & applications of Risk Quantification on time & cost

  • Learn the basics of Monte Carlo simulation Techniques and Results

  • Build a simple QRA simulation model for an estimate for contingency


Risk Management Training Agenda

Qualitative Risk Process Part 1

Chapter 1:  Project Management and Project Failures​

​Chapter 2:  Project Risk Management and Development

​Chapter 3:  ERM, PRM and Decision Support System (DSS)

​Chapter 4:  Risk Identification Process and Techniques

​Chapter 5:  Risk Tolerance, Matrix and Severity Ranking

Qualitative Risk Process Part 2

Chapter 6:  Risk Ownership and Risk Response Planning

​Chapter 7:  ALARP Principle and Residual Risk Handling

​Chapter 8:  Theory of Uncertainty, Risks and Decisions

​Chapter 9:  Outlining Risk Quantification & Analysis

​Chapter 10:  Understanding Mysterious Project Contingency

Quantitative Risk Analysis Part 1

Chapter 11:  Estimate Classes and Deriving Contingency

​Chapter 12:  Concept & Application of Risk Quantification

​Chapter 13:  Types of Risk Distribution and their Use

​​Chapter 14:  Quantitative Schedule Risk Analysis (SRA)

​Chapter 15:  Pert-Master Prerequisites and SRA Results

Quantitative Risk Analysis Part 2

Chapter 16:  Demystifying Contingency Calculation

​Chapter 17:  Building a Simple Contingency MC Model

​Chapter 18:  Techniques to Building a CRA Model

​Chapter 19:  Management and Strategic Risk Reserve Funds

​Chapter 20:  Riscor Simulation Model Demonstration​

If the Risk Management Training interests you or you would like to learn more about the practical use of the technique, please register your interest.

The class is kept to max 10 people online virtually.

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