Adroit will be providing the following training seminar at the 2019 AACE International Conference & Expo in New Orleans, LA on June 14 and June 15, 2019: Decision & Risk Management Professional (DRMP) Certification Exam Preparation.
This seminar is designed to help professionals study for AACE International’s (AACE) certification in Decision and Risk Management (DRM); and to provide a summarized review of relevant topics considered essential for DRMP knowledge. The selected topics are those outlined in AACE International’s Recommended Practice 11R-88 —Required Skills and Knowledge of Cost Engineering— and in AACE International’s Skills and Knowledge of Cost Engineering. This seminar is structured in a concise, systematic, and straightforward lecture format and covers primarily key topics in investment decision-making and risk management. The course material contains tutorials, exercises, and memo-writing assignment; and covers the key skills and knowledge used by DRM professionals.
Learning Objectives and Measurement
-To prepare and equip DRM professionals who are preparing to take the AACE International
DRMP certification examination with the knowledge and skills essential for DRMP knowledge
-To identify, understand and explore the Decision and Risk Management (DRM) processes
within the Total Cost Management Framework
-To describe how each of the Decision and Risk Management (DRM) processes can be
planned and implemented
-To learn how to apply investment decision-making and risk management practices under
different circumstances
Content
In covering investment decision-making, topics such as the structuring, evaluation, agreement, and implementation processes will be discussed and tools and techniques of decision making will be explored. Other key topics that will be covered as part of investment decision-making module are as follows:
-Cost vs. pricing: concepts, classifications, tools and techniques
-Lifecycle costs: project and asset
-Monetary versus opportunity costs
-Economic and financial analysis
-Engineering economics
-Decision-making terminology and concepts
-Basic concepts in probability and statistics
-Decision modeling and analysis
In covering risk management, topics such as plan risk management, assessment, treatment,
and control will be addressed. Other key topics that will be covered as part of the risk
management module are as follows:
-Risk management terminology and concepts
-Risk and uncertainty: concepts, classifications, tools and techniques
-Risk identification
-Risk assessment
-Risk analysis: qualitative and quantitative
-Sensitivity and decision-tree analysis
-Risk treatment: risk response strategies
-Risk monitoring, control, and reporting
-Specific Risk Management
Agenda
- Investment decision-making – Day 1
Morning session:
1. Introduction to TCM and its essential knowledge areas
2. AACE International’s Canons of Ethics
3. Structuring, evaluation, agreement, and implementation processes
4. Cost vs. pricing: concepts, classifications, tools and techniques
Afternoon session:
5. Lifecycle costs: project and asset
6. Monetary versus opportunity costs
7. Economic and financial analysis
8. Engineering economics
9. Decision-making terminology and concepts
10. Basic concepts in probability and statistics
11. Decision modeling and analysisB. Risk Management – Day 2
Morning session:
12. Risk management terminology and concepts
13. Risk and uncertainty: concepts, classifications, tools and techniques
14. Plan risk management
15. Risk identification
Afternoon session:
16. Risk assessment
17. Risk analysis: qualitative and quantitative
18. Sensitivity and decision-tree analysis
19. Risk treatment: risk response strategies
20. Risk monitoring, control, and reporting
21. Specific Risk Management
Instructor: Amin Terouhid, Ph.D., PE
Dr. Terouhid has served as a project management expert since 2003, and is currently a principal consultant at Adroit Consultants, LLC. He has received a Ph.D. in construction management from the University of Florida, and holds the following professional certificates: Professional Engineer (P.E.) – Texas, Project Management Professional (PMP), Decision and Risk Management Professional (DRMP), and Planning and Scheduling Professional (PSP).
Dr. Terouhid’s expertise in project management is focused on project planning and control, cost engineering, risk management, and project claim analysis. His experience also includes forensic construction claims, and he has experience serving as an expert in assessing construction claims. He is the author of AACE Recommended Practices 89R-16, 92R-17, and 91R-16, and the recipient of the 2018 AACE Technical Excellence Award.
For more information and to register, please see check out this link.
