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Integrated Cost-Schedule Risk Analysis

Running your projects like your competition is not sufficient. You cannot afford to be burdened with issues such as unreliable schedules and hidden or growing costs. You need a robust project controls solution that will enable predictability and allow you to differentiate your construction business from everyone else; not just copy them.

To be clear, if your scheduler(s) only knows how to perform scheduling with the CPM, you are just wasting your time. The same applies to your cost estimator(s).

Wouldn’t you like to know the likelihood that your project will finish on time and within budget?

Everyone would like answers to these types of questions. Armed with that kind of information, you could take a lot of guesswork out of big decisions and plan strategies with confidence. We use tools such as Primavera Risk Analysis, Deltek Acumen Risk, Safran Risk, and Palisade @Risk.

We provide important reports that include:

  1. Risk Exposure — Identify probabilistic completion dates and required contingency at any selected confidence level;
  2. Risk Drivers — Find out the driving risk events and which activities have the highest risk exposure;
  3. Risk Comparison — Compare the S-curves or distribution of any number of scenarios such as: mitigated vs. non-mitigated and find which paths carry the most risk driving out the completion date;
  4. Uncertainty Inputs — How much of the schedule has been flagged as realistic? Find out quickly with the Uncertainty Inputs report;
  5. Risk Sensitivity — Quickly assess the relationship between durations and costs by generating a scatter chart showing their interaction. Add a Joint Confidence Level (JCL) curve to the view to gain insight into the probability of meeting cost and schedule commitments;
  6. Integrated Risk Register — Map events to the activities they affect for true insight into the impact on the schedule. Evaluate the overhead of mitigation plans to figure out if their benefit outweighs their cost.