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The 10-Day Advanced Project Economics & Risk Management

A PMI Registered Training Course

The 10-Day Advanced Project Economics & Risk Management

Improve Decision-making and Increase Investment Effectiveness

NASBA PMI
Classroom Schedule
Date Venue Fees
07 - 18 Sep 2026 Dubai $ 11,900
09 - 20 Nov 2026 London $ 11,900

Modules

This training course is split into the following modules:

Module I - Project Analysis : Tools & Techniques for Managing Risk & Uncertainty

Module II - Advanced Project Economics, Risk & Decision Analysis

Course Outline

Module I: Project Analysis : Tools & Techniques for Managing Risk & Uncertainty

Day 1

Fundamentals of Decision Analysis

  • What is project management decision analysis?
  • The purpose of the project business case
  • The need for systematic risk management for decision-making
  • Risk and uncertainty on projects
  • Option analysis
  • Identifying key decision-making factors
Measures of Project Profitability
  • Fundamental tools of engineering economics
  • Time value of money
  • Appraisal methods - Discounted Cash Flow Projections
  • Time equivalence

 

Day 2

Cash-Flow Modelling and Project Decision Analysis

  • Financial Modelling and Project Evaluation
  • Internal Rate of Return computations (IRR)
  • Determining the Internal Rate of Return (IRR)
  • The risk of not understanding IRR

Analysing Project Specifics

  • Understanding the project context to assist in decision-making
  • Determine stakeholders and their level of influence
  • Capture requirements
  • Determine scope of work

 

Day 3

The Cost of Capital

  • Capital & Operating Expenditures (CAPEX / OPEX)
  • Estimating the cost of capital for a project
  • Benefit-Cost Ratio (BCR)
  • Dis-benefits

Risk Modelling in Practice

  • Identify Risks
  • Forecasting risk impacts & probabilities
  • Opportunity costs, sunk costs & salvage value of a project
  • Determining the Risk Priorities
  • The need for company cash flow

 

Day 4

Decision Analysis: Expected Value Concept

  • Basic Probability Concepts
    • Fundamental probability concepts
    • Mutually & non-mutually exclusive, independent events
  • Quantitative Project Risk Analysis
    • Semi-quantitative bow-tie process
    • Detailed risk quantification and prioritisation
    • Expected monetary value
    • Scenario planning
  • Sensitivity Analysis Tools
    • Simulation process
    • Tornado diagram
    • Defining the variables - PERT
Day 5

Decision Trees, EMV, Risk Responses and ROI

  • Decision Tree Analysis
    • Developing decision trees
    • Solving decision trees
  • Risk Responses
    • Developing risk responses
    • Evaluating response relevance
  • ROI Analysis
    • Understanding ROI
    • Identifying ROI
    • Evaluating and presenting your project options

Module II: Advanced Project Economics, Risk & Decision Analysis

Day 6

Development Economics

  • A brief history of energy usage
  • Principles of development economics
  • Understanding of economic terms
  • Inflation and its impact on nominal & real cashflows
  • Project financing
Day 7

Uncertainty in Investments

  • Handling uncertainty in capital projects
  • Understanding probability concepts
  • The expected value concept: features and pitfalls
    • Expected Monetary Value (EMV)
    • Expected Profitability Index (EPI)
    • Expected Opportunity Loss (EOL)
Day 8

Risks and Uncertainties

  • Risk & uncertainty
  • Risk aversion and risk premium
  • Exploration project threats and opportunities
  • Economic decision criteria
  • Decision tree analysis
  • Probability distribution
  • Monte Carlo simulation
Day 9

Setting-up Spreadsheet Calculations Using Excel

  • Spreadsheet Calculations
    • Cashflow analysis
    • Sensitivity analysis calculations
    • Tornado diagrams
  • Introduction to Monte Carlo simulations using @Risk
Day 10

Practical Use of the @Risk add-on

  • Developing an integrated economic model
  • Developing and using an @Risk Model Analysis
  • Project sensitivity analysis utilizing data from @Risk Model
  • Training course final review and close
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
  • The certificate will also have a PMI Course Identifier, which will enable the learners to claim Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI) towards certification or recertification of PMI credentials.
Providers and Associations

Endorsed Education Provider

NASBA
PMI

In Association With

Options & Brochure
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Frequently Asked Question

No. Saudi GLOMACS delivers courses in Saudi Arabia and internationally, including delivery across Europe and Asia. This allows organisations and professionals to access training both locally and abroad.

No. While governance and leadership are part of the portfolio, Saudi GLOMACS delivers training across the entire business and professional lifecycle, including administrative, technical, legal, regulatory, and sector-specific training.

Yes. Saudi GLOMACS designs and delivers bespoke in-house training tailored to organisational objectives, sector requirements, and workforce needs. Training can be delivered in Saudi Arabia or internationally, depending on requirements.

Courses delivered in Saudi Arabia are adapted to reflect local regulatory frameworks, organisational structures, sector conditions, and professional expectations. This ensures training is relevant, practical, and aligned with Saudi workplace realities.

GLOMACS has been delivering professional training for over thirty years, with courses delivered across Europe, the Middle East, Asia, and other international markets.

Saudi GLOMACS combines three decades of global training experience with a clear focus on Saudi market relevance. This allows it to deliver training that is both internationally credible and locally applicable, across a broader range of disciplines than niche or single-focus providers.

Saudi GLOMACS is a Saudi-based professional training provider delivering courses tailored to the Saudi market and applicable internationally. It operates within the global GLOMACS framework and draws on more than three decades of international training experience.

Saudi GLOMACS offers professional training across a wide range of disciplines, including administration, leadership and management, governance and regulation, law, oil and gas, energy, engineering, finance, digital technologies, and sector-specific specialisations.

Training supports professionals across all career stages, from operational roles to specialist and senior responsibilities.

Participants include professionals from public sector, semi-government, and private sector organisations, across a wide range of roles and industries. Attendees range from administrative and operational professionals to technical specialists, managers, and senior decision-makers.

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