Risk Quantification Seminar

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2-Day Seminar by Cost Engineering Expert John Hollmann:
"Practical and Realistic Methods for Contingency, Reserves and Escalation"

11-12 October 2018
Norris Conference Centers – Houston Westchase, Texas

About the Seminar

The fact that today’s projects are increasingly complex, high-paced, and risky limits the effectiveness of investment decisions and later project controls when not implemented correctly. However, complex projects need not mean complex risk quantification methods; there are simple and easy to understand processes that bring clarity and reliability.

This seminar will allow you to capitalize on the expert’s knowledge and experience to build your knowledge and competency as well as decision making and risk management skills, which will support more effective investment decision making and project control.

While most risk training courses focus on “qualitative” risk management, this seminar focuses on the quantitative step of the risk management process that is particularly important to making capital investment (owner) or bidding (contractor) decisions.

The methods are based on recognized AACE principles and recommended practices and grounded in empirical reality. Also, this seminar is worth 1.6 continuing education units (CEUs).

At the end of this seminar, you will learn to:

  • Optimize outcomes by realistically addressing risk in a practical way
  • Discover practical methods supported by research and the AACEI
  • Explore method variations by risk type and project phase
  • Strengthen capital investment decision making, including bidding, and project control
  • Build Decision and Risk Management skills, knowledge and competency
  • Expand risk management capabilities from qualitative to quantitative


The seminar starts with learning the basics of risk management and dealing with uncertainty in investment and bid decisions and project control.

You then learn how to use information about risks to perform integrated, probabilistic cost and schedule risk analysis for contingency, reserves and escalation.

This is done in a step-by-step manner including exercises using practical tools to reinforce the theory. For the exercises, you need a laptop with Excel and @Risk (download the 15-day free trial version of @Risk just prior to attending if needed).

After, the quantification at different project phases is covered, including capturing historical data to improve future risk analyses. In addition, you learn about landmark empirical research, example cases, tips and rules-of-thumb and watch-outs.

You are provided with practice guidelines, tools and templates to help put the practices into action at their workplace. Also, you receive a hard copy of the book “Project Risk Quantification” by John Hollman.

Who should attend

People with the following - or similar - backgrounds will benefit from this workshop:

Capital Investment Planners | Project Managers | Cost Estimators | Planners and Schedulers | Project Controllers | Risk Managers and Analysts

This applies to all industries involving construction from process to infrastructure.


Price: $ 1.500 (excl. VAT) including materials, lunch, coffee and tea

$ 1.300 (excl. VAT) for the early birds until the 15th of August

For more information, send us a message at This email address is being protected from spambots. You need JavaScript enabled to view it. or call (+1) 713 595 6600.

About John Hollmann

John Hollmann is an industry expert, author, leader and presenter in the Cost Engineering/Risk Management profession for the process industries including oil & gas, chemicals, mining, metals, pipeline and power, with more recent work in infrastructure.

  • Owner of Validation Estimating, LLC
  • Held many roles at the AACE International including as a member of the board of directors
  • Author of “Project Risk Quantification: A Practitioner’s Guide to Realistic Cost and Schedule Risk Management”
  • Editor/Lead Author of “Total Cost Management Framework” (2006), the foundation for all AACE
    International products.

“John has the ability to share his profound knowledge and experiences without any prejudice. He’s patient and loves what he is doing”

Andres Pereira, Cost Engineer at Ecopetrol

“John is the ultimate authority on risk analysis, risk mitigation, gap analysis and high-level cost metrics.”

Douglas W. Leo, Management Consultant

“John Hollmann lays out an approach that lends itself perfectly to understand and implement risk quantification at any stage in the project life cycle… it fills a gap that currently exists in the field of risk management.”

Edward van Doorn, Project Controls Manager, Resource Capital Funds

“John Hollmann shares his vast expertise while giving you practical, functional tools and a pragmatic guide to implement risk quantification methods at your own organization.”

Matthew Schoenhardt, Principal at MS Consulting

“For those in the trenches of project cost engineering in general, and risk analysis in particular,  it is difficult to find practices that are practical and reliable…John lays out an integrated set of  methods in detail but documents their basis in empirical reality.”

Prashant Srivastava, Manager, Cost Engineering Systems, Enbridge Pipelines, Inc.

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