Peter Iredale & Santosh Bhat of Allinno Pty Ltd present "Improved QSRA using the Risk Driver Method"

Quantitative Schedule Risk Analysis (QSRA) is becoming more widely adopted across the globe as a standard method for identifying and managing risk on engineering related projects.

Traditionally, QSRA has been practiced with Critical Path Method (CPM) based schedules using a method known as activity ranging, that has limitations in both its application and the outputs produced. Major industry bodies such as Risk Engineering Society (RES) Australia, and AACE International recommend an approach known as the
‘Risk Driver’ Method in preference to traditional ranging.

This presentation provides an overview of using the Risk Driver method for QSRA by comparing the similarities and differences over the traditional approach. For new or experienced QSRA practitioners this presentation will provide guidance on adopting and using this method with practical examples to demonstrate the benefits offered by the Risk Driver method for informed risk-based decision making.