IQRM (Institute of Qualified Risk Managers) is a professional organization focused on training and certifying individuals in advanced risk management techniques using quantitative methods.

What is the Qualified Risk Manager (QRM) certification?

The QRM certification is an internationally recognized credential designed for professionals who want to master quantitative risk management and risk-based decision-making.

Who should take the QRM course?

The course is ideal for project managers, risk managers, financial analysts, engineers, consultants, and decision-makers who want to enhance their ability to assess and manage risk quantitatively.

How long does it take to complete the QRM course?

The full course is divided into three modules, each requiring approximately 16 hours of study, including live sessions, interactive exercises, and self-paced learning.

What topics are covered in the QRM course?

Three modules: Foundation for Quantitative Risk Assessment (QRA), Building Risk Models (Quantitative Risk Registers and Monte Carlo Simulation), and Risk-Aware Decision Support (Advanced Decision-Making Strategies).

What learning resources are provided?

Participants receive access to recorded sessions and live Q&A, interactive tools for hands-on learning, real-world case studies and examples, and templates for building risk models.

Are there any live sessions?

There are 2 modes of conducting the course, either on-demand or live. You can book either one of them.

Can I access the course materials after completion?

Yes, once enrolled, you will have lifetime access to the course materials, including future updates.

How is the QRM certification awarded?

The certification is awarded after successfully completing the three modules and passing a final assessment. The assessment consists of a combination of practical exercises and a final exam.

Is there an exam at the end of the course?

Yes, there is a final exam to assess your understanding of the course content. You will need to achieve a minimum passing score to earn the certification.

Is the QRM certification globally recognized?

Yes, IQRM certifications are recognized by leading organizations worldwide and are valued by employers in various industries, including construction, oil and gas, finance, and technology.

How much does the QRM course cost?

The course is offered at a competitive price, with options to enroll in individual modules or the full course. Check the Pricing Page for current offers and discounts.

Are there any discounts available?

Yes, we offer group discounts for teams and purchasing parity discounts for learners in specific regions. Please contact us for more details.

Can I pay in installments?

Yes, installment plans are available for those enrolling in the full course. You can choose a payment plan that suits your financial needs.

To enroll, visit the Courses Page, select the module or full course you want to join, and complete the registration process.

What if I miss a live session?

No worries! All live sessions are recorded, and you can access them at your convenience on the learning platform.

What is your refund policy?

We offer a full refund if you cancel your enrollment within 7 days of purchase, provided you haven't started the course.

Can I retake the exam if I don't pass on the first attempt?

Yes, you can retake the exam for free. However, after the 2nd attempt it will cost 10% of the exam cost.

How can I contact support?

You can reach out to our support team via email at support@iqrm.net or through the Help Center on the platform. Our team is available 24/7 to assist you.

Do you offer corporate training?

Yes, IQRM offers tailored corporate training programs for organizations looking to upskill their teams in quantitative risk management.

Are there any prerequisites for enrolling in the QRM course?

There are no strict prerequisites, but a basic understanding of risk management principles and project management is recommended. Familiarity with Excel is also beneficial.

How long does a typical QSRA engagement take?

For a standard schedule, a comprehensive analysis, including workshops and reporting, typically takes 2 to 4 weeks.

Which software do your consultants use?

We primarily use Safran Risk due to its superior correlation handling and integrated cost/schedule features. We also support Primavera Risk Analysis (OPRA).

What is the difference between SRA and QSRA?

They are often used interchangeably. SRA stands for Schedule Risk Analysis; the Q emphasizes the Quantitative (Monte Carlo) nature of the assessment.

Do you provide JCL (Joint Confidence Level) reports?

Yes. We integrate your cost estimate with the schedule to provide a scatter plot showing the probability of success across both dimensions.

Can you help with Risk Calibration workshops?

Yes. Facilitating the workshop is a core part of our service. We use the RDE method to ensure your team's inputs are realistic and unbiased.

What is schedule risk analysis (QSRA), and how is it different from a qualitative assessment?

QSRA uses Monte Carlo simulation to turn a deterministic plan into a probabilistic schedule with P-dates (P50/P80/P90) and delay drivers. A qualitative assessment merely ranks risks by severity but does not quantify timelines, buffers, or confidence levels.

What do P50, P80, and P90 mean in schedule risk analysis?

They are percentiles on the finish-date distribution. P50 indicates the most likely outcome, P80 incorporates additional buffer with 80% confidence, and P90 is the most conservative option. The right percentile depends on risk tolerance and contractual obligations.

What schedule quality checks matter most before Monte Carlo?

Remove or justify hard constraints, close open-ended activities, convert long lags into dummy activities, and reduce soft logic overuse. These keep the network responsive so the QSRA results are defensible.

How many Monte Carlo iterations should I run?

Run 5,000 to 10,000 iterations for stable tails and lock a random seed for reproducibility. Consider enabling convergence features and Latin Hypercube Sampling for enhanced coverage.

Can I do QSRA in Excel, or do I need specialized tools?

Excel prototyping is possible, but dedicated tools like Safran Risk streamline schedule validation, risk mapping, correlation modeling, convergence analysis, and reporting, especially for enterprise-scale projects.

What software is used for QCRA?

The most common platforms are @Risk (Palisade/Lumivero), Crystal Ball, Safran Risk's cost module, and Argo. The choice depends on integration with your estimating workflow and whether you need integrated cost-schedule (JCL).

Is QCRA the same as cost contingency analysis?

QCRA is the method; contingency sizing is one of its outputs. You can also use QCRA outputs for funding decisions, lender stress tests, and bid-price strategy.

What is the difference between QCRA and a sensitivity analysis in Excel?

A sensitivity analysis flexes one variable at a time. QCRA varies all variables simultaneously with their probability distributions and correlations, capturing combined risk that one-at-a-time analysis misses.

How long does a QCRA take?

A first pass on a £50M project takes 2 to 4 weeks if your cost estimate is clean and your risk register is mature. Most of the time goes into inputs and stakeholder validation, not the simulation itself.

About IQRM - Quantitative Risk Management Training & Advisory

About IQRM

Institute of Qualified Risk Managers (IQRM) is a training and advisory institute built for one mission: help organizations and professionals make risk aware decisions using numbers, not opinions.

Most “risk management” in projects is still qualitative, subjective, and easy to ignore.

IQRM exists to change that by teaching and applying quantitative risk assessment that executives can trust and act on.

Why we exist.

Most quantitative risk analysis on major capital programmes is not quantitative. It is qualitative judgment dressed in the language of probability. Workshop opinions become three-point estimates. Three-point estimates become Monte Carlo inputs. Monte Carlo inputs become histograms. Histograms become executive forecasts.

At every step, the underlying analysis loses defensibility. By the time the number reaches the board, no one can trace where it came from.

On a $100 million programme, this is uncomfortable. On a $5 billion programme, it is dangerous.

IQRM exists to fix this. Not by replacing the tools. By replacing the inputs, the actual risk data, with evidence extracted from the project itself. And by training the practitioners who deliver it.

Three principles behind everything we do.

Evidence over opinion

Risk inputs come from real project data: productivity, procurement, progress, performance. Not from workshop conversations. The IQRM Risk Data Engine is built around this principle.

Defensibility over decoration

A Monte Carlo histogram that cannot be defended under challenge is not analysis. It is decoration. Every IQRM output is built to hold up under sanction review, audit, and board scrutiny.

Application over academia

Quantitative risk management is a practical discipline, not an academic one. We teach for real project work. Theory only matters if it changes the decision.

LEADERSHIP

Led by Rami Salem. 15+ years of applied quantitative risk practice.

Rami Salem is the Founder and Managing Director of IQRM, with 15+ years of applied practice in quantitative risk management on major capital programmes across the UK and GCC, spanning oil and gas, EPC/EPCM, and major infrastructure.

He concurrently holds the role of GCC Portfolio Risk Manager at Enppi, where he leads quantitative risk delivery on a multi-billion-dollar portfolio of oil and gas programmes.

He is an approved consultant with Saudi Aramco and ADNOC, and a regular speaker at industry conferences in Riyadh and across the GCC.

Every IQRM engagement is led by Rami personally or by senior practitioners trained inside the IQRM methodology. There is no offshored junior team. There is no hidden subcontracting.

QSRAQCRAMonte Carlo SimulationJoint Confidence LevelSafran RiskPrimavera Risk AnalysisRisk Data Engine™Executive Risk Reporting

Connect with Rami on LinkedIn

Two ways IQRM builds quantitative risk capability.

FOR PRACTITIONERS

The QRM Professional Programme

Cohort-based training in QSRA, QCRA, Monte Carlo simulation, and integrated cost-schedule risk analysis. Practical, taught from real project work, CPD certified.

See the QRM Programmes

FOR ORGANISATIONS

Consulting and advisory

Risk Data Engine deployment, Risk Radar reports, and QSRA/QCRA engagements for operators, EPCs, and programme owners.

See IQRM Consulting

Credentials that hold up under procurement scrutiny.

Approved Saudi Aramco vendor
ADNOC approved consultant
CPD certified training
Training license access provided on ARGO, Safran Risk, and ModelRisk
Graduates now working across major programmes, with published testimonials from practitioners at Worley, Turner & Townsend, and UKAEA

UK and GCC. Where the world's most demanding programmes are built.

IQRM delivers training and consulting across the United Kingdom, Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Bahrain, with remote delivery worldwide including the US. The institute's case study library covers programmes from HS2 and Hinkley Point C to NEOM, Etihad Rail, and Doha Metro.

contact@iqrm.net · +971 50 362 5784 · Rolex Tower, Sheikh Zayed Road, Dubai

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