Modelling project risks

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This course currently has no scheduled dates. To express interest in this course or to discuss bespoke options for yourself or your organisation, please submit an expression of interest or contact the Professional Education Team on +61 2 5114 5573 or


3 days

Delivery mode




Standard price


Defence price



A discounted rate may be available in special circumstances and to Defence employees. Please contact PSRG at for more information.

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Projects always involve uncertainties and understanding these uncertainties is crucial for developing an adequate plan, which is required for effective project monitoring and control, and informed decision making. Effective modelling techniques, which capture the complexities of projects and uncertainties involved, are therefore necessary for adequate project management. This course looks at those issues, describes existing models to deal with those issues and then discusses their merits and possible synthesis.

This course provides an understanding of the processes, methods and techniques used to model the project risks in particular schedule (time) and cost risks. Depending on where in the project lifecycle you apply it, this can help in advising senior management about project strategies and risks when applied in feasibility or requirement phase throughout project closure.

Course content

Projects and Project Management

  • Discussing what a project is and what project objectives are
  • Reviewing basic project management concepts
  • Briefly reviewing Capability Life-Cycle (CLC).

Project Risk Management

  • Main general framework for project risk management such as PMBOK or ISO standards 31000
  • Reviewing concepts, strategy, and risk mitigation and requirements setting in CLC.


  • What is a model?
  • How do we model?
  • Modelling in practice

Uncertainty and Risk

  • Uncertainty and risk in projects
  • Cost risk
  • Time risk
  • Analysing risk using simulation
  • Monte Carlo Simulation


The course covers several exercises on modelling and conducting Monte Carlo simulation, reinforcing the concepts discussed in the course. 

Learning outcomes

Skills/competencies/knowledge that would be gained through this course:

Who should attend

Anyone who needs an understanding of project management, including, but not exclusive to:

  • project and program managers
  • risk analysts and risk managers
  • aspiring project managers
  • sustainment and acquisition project managers
  • schedule and cost analysts
  • systems engineers
  • technical staff
  • logistic managers
  • capability development staff
  • ILS managers
  • capability managers
  • contract/procurement managers
  • engineers
  • engineering managers
  • business managers
  • procurement officers
  • infrastructure planners.


Dr Alireza Abbasi

Dr Alireza Abbasi is Director of Postgraduate Studies and Coordinator of Project Management programs at UNSW Canberra. He obtained his PhD in Project Management from the University of Sydney in 2012 before joining the School of Engineering & Information Technology (SEIT) at UNSW Canberra. He also holds a graduate certificate in University Learning and Teaching from UNSW Sydney. His research and teaching interests include project management, management science, information systems management and network science. He has written a book, three book chapters and more than 60 technical journal and conference papers.  

Dr Abbasi has had several appointments and been involved in different projects in IT/Software, oil, education and R&D sectors. He is an active member of several professional bodies including the Australian Institute of Project Management (AIPM), Project Management Institute (PMI), and Australian & New Zealand Academy of Management (ANZAM).

Cancellation policy

Courses will be held subject to sufficient registrations. UNSW Canberra reserves the right to cancel a course up to five working days prior to commencement of the course. If a course is cancelled, you will have the opportunity to transfer your registration or be issued a full refund. If registrant cancels within 10 days of course commencement, a 50% registration fee will apply. UNSW Canberra is a registered ACT provider under ESOS Act 2000-CRICOS provider Code 00098G.