0405PLFA

Module
04 Managing Risk & Opportunity
Sub-Module
M04-5 Risk & Opportunity Response Strategies and Tactics
Level
Professional (Practitioner / Project Manager)
Discipline
Forensic Analysis
  • Be able to identify and explain the various strategic options for risk and/or opportunity management in the context of forensic analysis/claims assessment
  • Be able to identify and explain how decision trees are set up and calculated as applied to forensic analysis/claims assessment

0404PLFA

Module
04 Managing Risk & Opportunity
Sub-Module
M04-4 Assess, Prioritize and Quantify Risks & Opportunities
Level
Professional (Practitioner / Project Manager)
Discipline
Forensic Analysis
  • Be able to explain the difference between qualitative and quantitative risk/opportunity analysis and compare the advantages and disadvantages in in the context of forensic analysis/claims assessment
  • Memorise the PERT formulas and be able to explain how and when they are used in forensic analysis/claims assessment, including the ability to read, understand and apply z-Tables
  • Memorize the formula to calculate EMV and be able to explain how and when EMV is used in forensic analysis/claims assessment
  • Be able to explain how Monte Carlo simulation can or could be used

0403PLFA

Module
04 Managing Risk & Opportunity
Sub-Module
M04-3 Identify Risks & Opportunities
Level
Professional (Practitioner / Project Manager)
Discipline
Forensic Analysis
  • Be able to differentiate between standardised and ad hoc WBS structures and when and how to use a WBS for risk/opportunity management in the context of forensic analysis/claims assessment
  • Be able to explain the elements or components of a well-designed risk/opportunity register and know and understand how to apply the associated formulas in the context of forensic analysis/claims assessment
  • Be able to explain the differences between primary and secondary risk/opportunities
  • Be able to list and explain the various risk/opportunity management tools/techniques as ap

0401PLFA

Module
04 Managing Risk & Opportunity
Sub-Module
M04-1 Introduction to Managing Risk & Opportunity
Level
Professional (Practitioner / Project Manager)
Discipline
Forensic Analysis
  • Be able to define and explain the purpose of Managing Risk & Opportunity and how that governs or impacts the roles and responsibilities of the Forensic Analyst
  • Be able to define and explain the relationships between risks and opportunities, scope and quality in the context of forensic analysis/claims assessment

0406PLCM

Module
04 Managing Risk & Opportunity
Sub-Module
M04-6 Risk & Opportunity Monitoring and Control
Level
Professional (Practitioner / Project Manager)
Discipline
Cost Management
  • Be able to identify and explain how statistical process control charts are set up, calculated and used in the context of cost estimating/cost budgeting
  • Be able to identify and explain how Pareto Charts are set up, calculated and used in the context of cost estimating/cost budgeting
  • Be able to identify and explain how Process Capability is set up, calculated and used in the context of cost estimating/cost budgeting
  • Be able to differentiate between accuracy, precision and reliability and explain how each applies in the context of cost estimating/cost budgeting dat

0405PLCM

Module
04 Managing Risk & Opportunity
Sub-Module
M04-5 Risk & Opportunity Response Strategies and Tactics
Level
Professional (Practitioner / Project Manager)
Discipline
Cost Management
  • Be able to identify and explain the various strategic options for risk and/or opportunity management in the context of cost estimating/cost budgeting
  • Be able to identify and explain how decision trees are set up and calculated as applied to cost estimating/cost budgeting

0404PLCM

Module
04 Managing Risk & Opportunity
Sub-Module
M04-4 Assess, Prioritize and Quantify Risks & Opportunities
Level
Professional (Practitioner / Project Manager)
Discipline
Cost Management
  • Be able to explain the difference between qualitative and quantitative risk/opportunity analysis and compare the advantages and disadvantages in in the context of cost estimating/cost budgeting
  • Memorise the PERT formulas and be able to explain how and when they are used in cost estimating/cost budgeting, including the ability to read, understand and apply z-Tables
  • Memorize the formula to calculate EMV and be able to explain how and when EMV is used in cost estimating/cost budgeting
  • Be able to explain how Monte Carlo simulation can or could be used in cost estima

0403PLCM

Module
04 Managing Risk & Opportunity
Sub-Module
M04-3 Identify Risks & Opportunities
Level
Professional (Practitioner / Project Manager)
Discipline
Cost Management
  • Be able to differentiate between standardised and ad hoc WBS structures and when and how to use a WBS for risk/opportunity management in the context of cost estimating/cost budgeting
  • Be able to explain the elements or components of a well-designed risk/opportunity register and know and understand how to apply the associated formulas in the context of cost estimating/cost budgeting
  • Be able to explain the differences between primary and secondary risk/opportunities
  • Be able to list and explain the various risk/opportunity management tools/techniques as applied in c
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