In our latest download, we collaborate with Dr. David Hulett to define cost and schedule risk analysis and identify the common causes of cost and schedule overrun. For the last 25 years, Dr. Hulett has focused on integrated cost-schedule risk analysis and is known as a leader in its methods, concepts and training. The ebook discusses how conducting an in-depth analysis can mitigate risks and demonstrates the benefits in worked examples.
Defining Cost and Schedule Risk Analysis
Cost and schedule risk analysis evaluates the likely impact of uncertainty and individual risks on overall project costs and time to completion. For accurate forecasting and project control, an understanding of the impact that risks will have upon the schedule and budget is essential, making cost and schedule analysis valuable to any project manager.
Why Conduct Cost and Schedule Risk Analysis?
Applying quantitative risk analysis to the process of setting reasonable targets for project finish date and cost produces results not available from the schedule and the cost estimates themselves. It can more accurately measure how likely a project is to finish on time and on budget and which risks are the cause of overruns. It can also indicate how much contingency is required to make budget costs confidently and time deadlines successfully. The ebook answers the key questions surrounding cost and schedule risk analysis.
Inside the Guide:
- What is cost and schedule risk analysis?
- Why is cost and schedule risk analysis needed?
- Why do so many projects overrun their cost estimates?
- How are project uncertainty and risk defined?
- How does cost and schedule risk analysis work?
Cost and Schedule Risk Analysis Update
To help you create an integrated schedule and cost risk model, we have introduced a new tool to Safran Risk. With this feature, you can now perform cost-only risk analysis all the way through planning, execution and closeout. This cost risk information can easily be incorporated with schedule information to create your integrated schedule and cost risk model.
To gain in-depth understanding on cost and schedule overruns from an acknowledged expert in the field, Dr. David T. Hulett, author of Integrated Cost-Schedule Risk Analysis, download our new guide.