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.

Payment

Guaranteed Security using one of the most advanced encrypted systems on the market.

The information in this page is being processed and encrypted securely using industry-leading encryption and fraud prevention tools.

Created with

QRM Training

Consulting

Knowledge Hub

Methods & Tools

QSRA on UK Major Projects

Pages

Policy Pages

Get in touch