Global Learning for Operational Leaders
Course AGRC-002
Advanced Project Economics, Risk & Decision Analysis (Auditing and Governance Risk and Compliance)
The three biggest planning challenges are predicting costs, assessing profitability, and risk management. The outline covers Development Economics, Uncertainty in Investments, Risks and Uncertainties, and Setting-up Spre...
- 5 daysClassroom or online
- 14Upcoming dates
- 14Cities
- €1,625Fees from
Classroom
14 sessions
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Online / Live
14 sessions
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Introduction
Course overview
The three biggest planning challenges are predicting costs, assessing profitability, and risk management.
All these tasks occur in the early stages of capital planning and failure to adequately evaluate these elements can lead to heavy losses.
This Advanced Project Economics, Risk & Decision Analysis training course will highlight:
Identification of the stages required in the risk analysis process, i.e., preparing, modeling, and running risk analysis
Development of the risk model, assessing probabilities to various variables, risk analysis, and explore the impact of uncertain variables
Enable the participants to create reports such as, tornadoes diagrams, scatter plots and cumulative probability functions, using excel
Application of decision trees and Monte Carlo-based simulations to generate profitability indicators
Enable the participants to develop probabilistic cashflow reports along with probabilistic profitability indicators for decision-making
What you will achieve
Learning objectives
- Learn how to handle uncertainty in projects
- Understand different economic terms
- Understand the expected value concept and learn its impact on decision tree analysis
- Learn expected theory concepts and attitudes towards risk, risk eversion and risk premium
- Acquire spreadsheet skills including simulation software @RISK
- Carry out cashflow analysis for project and use common economic indicators to evaluate between competing alternatives
- Carry out a comprehensive economic study evaluating projects using risk and sensitivity analysis by means of spreadsheets
Who should attend
Target audience
- This Advanced Project Economics, Risk & Decision Analysis training course is designed to provide technical and practical approaches to executing a project in the upstream sector.
- Planning Managers
- Project Managers
- Analysts
- Commercial Managers
- Economists
- Government Officials
- Geologists
Methodology
Learning approach
- This Advanced Project Economics, Risk & Decision Analysis training course will incorporate a mix of learning methods, including but not limited to, high quality power point slides, short videos and active class participation.
- An in-depth knowledge of quantitative risk analysis techniques and hands-on problem solving skills will be developed during this training course . Participants will use PC’s to solve a variety of problems better enabling them to utilize the taught material.
- This Advanced Project Economics, Risk & Decision Analysis training course approach will be facilitated using Microsoft Excel add on @Risk module and will further assist in promoting discussions among the participants.
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
Development Economics
- A brief history of energy usage
- Principles of development economics
- Understanding of economic terms
- Coffee break
- Understanding of economic terms (continued)
- Inflation and its impact on nominal & real cashflows
- Project financing
Day 2
Uncertainty in Investments
- Handling uncertainty in capital projects
- Understanding probability concepts
- The expected value concept: features and pitfalls
- Coffee break
- The expected value concept: features and pitfalls (continued)
- Expected Monetary Value (EMV)
- Expected Profitability Index (EPI)
- Expected Opportunity Loss (EOL)
Day 3
Risks and Uncertainties
- Risk & uncertainty
- Risk aversion and risk premium
- Exploration project threats and opportunities
- Economic decision criteria
- Coffee break
- Economic decision criteria (continued)
- Decision tree analysis
- Probability distribution
- Monte Carlo simulation
Day 4
Setting-up Spreadsheet Calculations Using Excel
- Spreadsheet Calculations
- Cashflow analysis
- Sensitivity analysis calculations
- Coffee break
- Sensitivity analysis calculations (continued)
- Tornado diagrams
- Introduction to Monte Carlo simulations using @Risk
Day 5
Practical Use of the @Risk add-on
- Developing an integrated economic model
- Developing and using an @Risk Model Analysis
- Coffee break
- Developing and using an @Risk Model Analysis (continued)
- Project sensitivity analysis utilizing data from @Risk Model
- Training course final review and close
Course FAQs
Questions about this course
What participants and training managers usually ask before booking Advanced Project Economics, Risk & Decision Analysis (Auditing and Governance Risk and Compliance). Can't find your answer?
What does Advanced Project Economics, Risk & Decision Analysis (Auditing and Governance Risk and Compliance) (AGRC-002) cover?
This course covers Auditing and Governance Risk and Compliance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 16 - 20 November 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
This Advanced Project Economics, Risk & Decision Analysis training course is designed to provide technical and practical approaches to executing a project in the upstream sector., Planning Managers, Project Managers
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include Barcelona, Dubai, Cape Town, Amsterdam, London, Istanbul, Munich, Paris, Frankfurt, Kuala lumpur, Rome, Vienna, Geneva, Madrid.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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