Webinars

Complete Projects on Time and Under Budget

10am - 11am PT / 11am - 12pm MT / 12pm - 1pm CT / 1pm - 2pm ET

Project overruns on cost and schedule are a consistent and seemingly intractable problem for all project managers. If almost 70% of your projects fail to meet either schedule or cost estimates, you're not alone. The fact is that projects have a great deal of uncertainty associated with them and the root cause of the uncertainty is risk, or more specifically risk events. Traditional methods of estimation do not adequately account for the uncertainty that risks can cause in projects.

This webinar will provide a step-by-step process of how to take an initial risk assessment and apply it to project schedules using Monte Carlo analysis. By applying this process, project managers will be able to improve cost and schedule estimates, as well as identify risks and activities that have the most potential to affect the project success.

Key topics include:

• Modeling risk events
• Methods for improving estimates
• Applying the Monte Carlo analysis to identify and control critical risks
• Overcoming challenges in project forecasting
• The project manager's role in communicating risk

Michael Trumper has worked with Intaver Institute Inc. since 2004 and is currently the business development manager and partner. As part of his work with Intaver, he has co-authored Project Decisions: the art and science (published in 2007 and currently in PMI bookstore) and authored papers on quantitative methods in project estimations and risk analysis. Michael has consulted in the development and delivery of project risk analysis and management software, consulting, and training solutions to clientele that includes NASA, Boeing, Dynatec, Chamberlain Group, Proctor and Gamble, L-3.com and others.  He has over 20 years of experience in technical communications, instructional and software design, and training project risk and economics software and theory. Michael is currently working on a new book as well as overseeing the design and development of project risk management system.