RI$K 102/JACS
COURSE LENGTH: 4 Days (8:30am - 4:30pm)
PREREQUISITES: Students must have attended the ACEIT 101 training course. We strongly recommend that students have developed at least one estimate in ACE.
RI$K 102 OBJECTIVE: This introductory course guides you through the process of modeling the uncertainty in your point estimate. The course covers the basic concepts of uncertainty analysis and provides guidance on the systematic application of uncertainty to an estimate. You will explore the nature of uncertainty in an estimate and learn how to model the most common uncertainty distributions.
At the completion of the course you will be able to:
- Identify where and how uncertainty should be applied in your point estimate
- Recognize the standard uncertainty distributions and know where to apply them
- Apply an uncertainty distribution to CERs and their inputs
- Understand when/where/how to apply correlation
- Generate key risk tables, charts and reports in ACE
- Understand the requirement for and process used to allocate risk results in the estimate
- Develop a risk-adjusted, time phased estimate in BY and TY$
- Develop graphical displays of risk simulation results
TRAINING MODULES: The RI$K 102 training course consist of the following modules divided into six topic areas:
Why Cost Risk?
Module 1 – Introduction to Uncertainty and Risk
Background
Module 3 – What is a Distribution?
Module 4 – Understanding SimulationModule 5 – A Process for Defining Uncertainty
Data Needed to Define Distributions
Module 6 – Defining Distributions with No Information on the Bounds
Module 7 – Defining Distributions with Expert Opinion
Module 8 – Defining Distributions for CERs with Supporting Data
Module 9 – Adjusting Risk To Account For CER Database or Analogy Relevance
Inputs-Based Uncertainty Approach
Module 10 – Inputs-Based Uncertainty Approach for Cost Throughputs
Module 11 – Inputs-Based Uncertainty Approach for CERs and CER Inputs
Presenting Risk Results
Module 12 – Presenting the Risk Story
Advanced Risk Topics
Module 13 – Advanced Risk Topics Overview
JACS OBJECTIVE: Learn how to use JACS to load time dependent and time independent costs into your MS Project schedule and assign uncertainty to task cost and durations. You will learn how to build a Risk Register to ensure that your discrete risks properly influence your integrated cost/schedule model. You get hands-on experience with built-in wizards that simplify the task of defining uncertainty and correlation. And you will use the automated health checks to identify errors, determine schedule, cost and uncertainty conflicts, and flag where best practices are not being used. Learn how to generate a variety of graphical reports to analyze Joint Confidence Level (JCL) results and to identify cost, schedule and uncertainty drivers.
Introduction to Joint Confidence Analysis and JACS
Module 1 – JACS Overview and Installation
Module 2 – Steps to Building a JCL Model
Module 3 – Introduction to the JACS Menu
Using JACS to Build a JCL Model
Module 4 – Microsoft Project Preliminaries
Module 5 – Configuring the Schedule File for JACS
Module 6 – Mapping Costs to Schedule Activities
Module 7 – Specifying Uncertainty Distributions
Module 8 – Incorporating a Risk Register
Module 9 – Applying Correlation
Module 10 – JACS Multi-Assignment Tool
Module 11 – Conducting a JACS Health Check
Module 12 – Running a JACS Analysis
Viewing Analysis Results
Module 13 – Using ASPOT to View Results of the Analysis
Working with the Generated JACS Files
Module 14 – JACS Cache File
Module 15 – JACS ACE Session