Risk Management with Monte Carlo Analysis

Course Description

Risk Management with Monte Carlo Simulation is a moderate level course designed especially for Project Managers, Sales and Marketing team, Consultants or anyone responsible for managing and mitigations of risks in an organization.

People from technology-based management are welcome. The focus will on be identifying and quantifying risks involved in a decision. How Monte Carlo analysis can help predict the probability of a variety of outcomes.

Course Objective

This course covers both the theory and application of risk management and assessment in project management. The overall goal of the course is to identify what is at risk, what are the impacts and how to mitigate using Monte Carlo analysis

Pre-requisite

  • Basic understanding of mean, standard deviation, and probability
  • Calculate numerical summary statistics
  • Understanding of random variables
  • Understanding of residuals and z-scores

Course Content

Day 1:

  • Introduction
  • Understand what is at risk
  • Risk communication
  • Qualitative vs Quantitative assessment
  • Basic Statistics
  • Introduction to Monte Carlo Simulation

Day 2:

  • Building a risk register
  • Analyze the risks
  • Evaluate the aggregate exposure
  • Devising a mitigation plan
  • Treatment
  • Wrap-up (Automation)

Batch

Min 5, max 10 participants

Duration

8 Hours x 2 (Full-time)

Mode of training

Offline (on-premise)

Fee

INR 59,999.00 + GST

Prxsion Technologies is a new age technology startup with a core focus on Data Integration and Analytics.

We help businesses make smart and data-driven decisions by providing them with relevant Insights, Predictive Intelligence, Technology Integration, Data Solutions, and Consulting Services.

We believe in skilfully delivering solutions that involve new ideas and methods.

Data science is the next big revolution which will present infinite possibilities for businesses, let's explore the brighter side with us.