A PMI Approved Training Course

Project Risk, Uncertainty & Decision Analysis

A Proven Systematic Approach to Project and Risk Management

Certified & Accredited By

Course Options

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Why Choose Us

The Project Risk, Uncertainty & Decision Analysis training course equips project managers, planners and risk professionals to manage project risk and uncertainty systematically. It presents an end-to-end framework covering initiation, schedule and cost management, risk planning, project closure and benefit realisation. Delegates learn to support decisions through structured, repeatable processes rather than relying solely on professional experience and instinct. This practical approach builds the knowledge and decision analysis capability required to manage projects with greater confidence, rigour and resilience.

Learning encompasses the complete risk and uncertainty management lifecycle, beginning with project fundamentals, scope definition and work breakdown structure development. It progresses through earned value management, contemporary risk management standards, qualitative analysis, and schedule-risk and cost-risk assessment. Delegates also examine risk identification, response implementation, stakeholder management, continuing monitoring and post-project evaluation. Each area relates directly to the decisions project professionals encounter throughout the project lifecycle.

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

Applying project initiation, scope definition and WBS development
Understanding earned value, schedule and cost management
Using contemporary standards and repeatable risk management processes
Identifying, planning and qualitatively assessing project risks
Assessing schedule and cost risks while implementing and monitoring responses
Managing stakeholders, project closure, benefit realisation and post-project evaluation

Why Choose Project Risk, Uncertainty & Decision Analysis

Course Goals

What are the Goals?

The Project Risk, Uncertainty & Decision Analysis Course aims to build comprehensive capability in project risk management and decision analysis across project initiation, scheduling, cost management, risk planning, response strategies, and closure.

Upon completing this course, participants will be able to:

Describe the nature of projects, the project lifecycle, the Stage Gate approach, and project organisational structures
Use project initiation principles and create scope definitions and Work Breakdown Structures
Identify and sequence project activities, create schedules, and manage resources efficiently
Estimate project costs, establish budgets, and use Earned Value Management concepts to measure project performance
Differentiate between decisions made under certainty, risk, and uncertainty, and apply contemporary risk management standards
Use the risk management planning process, including risk identification, assessment, and qualitative analysis
Conduct schedule-risk and cost-risk analysis and formulate suitable risk response strategies
Put risk responses into practice, monitor them, and prepare structured risk reports
Manage stakeholder expectations and project communications throughout project execution
Use effective project closure disciplines, including lessons learned, post-project evaluation, and benefit realisation

Who is this Training Course for?

This Project Risk, Uncertainty & Decision Analysis training course is designed for:

Project Managers
Programme Managers
Portfolio Managers
Project Risk Managers
Risk Analysts
Project Controls Managers
Project Planners and Schedulers
Cost Estimators
Project Engineers
Decision Analysts

Learning Approach

How will this Training Course be Presented?

The Project Risk, Uncertainty & Decision Analysis Course uses a structured learning approach that builds progressively, moving from project management foundations and scheduling to risk identification, assessment, response planning, and project closure. Every day focuses on a separate stage of the project risk management lifecycle, developing a complete and integrated understanding of how risk and uncertainty are managed from initiation through to closure.

Practical activities, risk planning discussions, schedule and cost risk analysis, and case-based application are incorporated throughout, ensuring delegates relate risk management frameworks to the real project challenges encountered within their organisations.

Delivery approaches include:

Instructor-led sessions addressing project management foundations, risk management standards, response strategies, and closure disciplines
WBS and scope definition activities that build practical capability in project initiation and scope management
Schedule development and resource management sessions that apply activity sequencing, schedule development, and resource planning
EVM concept sessions that apply earned value management to measuring project cost and schedule performance
Project closure and benefit realisation sessions that apply lessons learned, post-project evaluation, and closure discipline frameworks

The Course Content

Introduction to Project Management and Risk Management

The nature of projects and project management
Project/program and portfolio management
Project organization, project life cycle and Stage Gate approach
Project Initiation
Scope definition and Work Breakdown Structure (WBS)

Project Schedule and Cost Management

Defining and sequencing project activities
Schedule Development
Resource management
Estimating costs and determining budgets
The earned value management (EVM) concept

Risk Identification and Planning

Decisions under certainty, risk and uncertainty
Risk management overview
Contemporary concepts and standards in risk management
Risk management planning process
Risk identification and assessment
Qualitative risk analysis

Risk Response Strategies and Risk Control

Schedule-Risk and Cost-Risk Analysis
Risk Response Strategies
Risk Response Implementation
Risk monitoring and follow-up
Risk Reporting

Project Execution, Monitoring & Closure

Managing stakeholder expectations
Managing project communications
Managing the project team
Effective project closure
Lesson learned
Post-project evaluation and Benefit Realisation

Recognition

Certificate

• Wallstreet Development Academy Certificate of Completion for delegates who attend and complete the training course.

Qualifications & Endorsements

Accreditation

Wallstreet Development Academy is an official PMI Authorized Training Partner (ATP). All applicable project management courses are pre-approved by the Project Management Institute, allowing participants to earn the necessary PDUs and Contact Hours for certification and recertification.

Collaborations

In Partnership With

Frequently Asked Questions

This course focuses on project risk, uncertainty and decision analysis within the wider discipline of project management. It presents these topics through a proven systematic approach. The emphasis is on understanding how risk and uncertainty relate to project decisions.

The course treats risk management as part of a systematic approach to managing projects. Its title and subtitle indicate that project risk, uncertainty and decision analysis are considered together rather than as isolated subjects. Further details about the methods used are not provided.

The course explicitly includes uncertainty as a core topic alongside project risk and decision analysis. It approaches uncertainty within a systematic project and risk management framework. The provided information does not identify specific uncertainty models or assessment methods.

This course is relevant to people seeking a systematic understanding of project risk, uncertainty and decision analysis. Its subject matter is directly connected to project and risk management. No specific job roles, experience levels or prerequisites are listed in the provided information.

You will learn about the core areas named in the course: project risk, uncertainty and decision analysis. The course connects these areas to a systematic approach to project and risk management. Specific learning objectives are not provided in the available course information.

Yes, decision analysis is one of the course’s three central subjects. It is addressed in the context of project risk and uncertainty. The available course description does not specify particular decision-analysis tools or techniques.

The course uses a proven systematic approach to project and risk management. This indicates a structured treatment of risk, uncertainty and decision analysis. The available material does not provide the individual stages or components of that approach.

The course is centred on applying a systematic perspective to project risk, uncertainty and decision analysis. This focus supports the development of structured thinking about project and risk management decisions. Specific exercises, tools and practical outcomes are not described in the available content.