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Integrated Cost-Schedule Risk Analysis

Integrated Cost-Schedule Risk Analysis PDF Author: David Hulett
Publisher: CRC Press
ISBN: 1317115295
Category : Business & Economics
Languages : en
Pages : 240

Book Description
Project managers tend to believe their cost estimates - whether they have exceeded budgets in the past or not. It is dangerous to accept the engineering cost estimates, which are often optimistic or unrealistic. Though cost estimates incorporate contingency reserves below-the-line, these estimates of reserves often do not benefit from a rigorous assessment of risk to project costs. Risks to cost come from multiple sources including uncertain project duration, which is often ignored in cost risk analyses. In short, experience shows that cost estimating on projects is rarely successful - cost overruns routinely occur. There are effective ways to estimate the impact on the cost of complex projects from project risks of all types, including traditional cost-type risks and the indirect but often substantial impact from risks usually thought of as affecting project schedules. Integrated cost-schedule risk anlaysis helps us determine how likely the project will go over budget with the current plan, how much contingency reserve is required to achieve a desired level of certainty, and which risks are most important so the project manager can mitigate them and achieve a better result. Integrated Cost-Schedule Risk Analysis provides solutions for these and other challenges. This book follows on from David Hulett's highly-praised Practical Schedule Risk Analysis. It focuses on the way that schedule risk can generate cost risk, and how to handle this relationship. It also applies the Risk Driver Method to the analysis so that you can clearly and transparently identify the key risks, rather than just the most risky cost line items. With detailed worked examples and over 70 illustrations, Integrated Cost-Schedule Risk Analysis offers the definitive guide to this critically important aspect of project management from surely the world's leading commentator.

Integrated Cost-Schedule Risk Analysis

Integrated Cost-Schedule Risk Analysis PDF Author: David Hulett
Publisher: CRC Press
ISBN: 1317115295
Category : Business & Economics
Languages : en
Pages : 240

Book Description
Project managers tend to believe their cost estimates - whether they have exceeded budgets in the past or not. It is dangerous to accept the engineering cost estimates, which are often optimistic or unrealistic. Though cost estimates incorporate contingency reserves below-the-line, these estimates of reserves often do not benefit from a rigorous assessment of risk to project costs. Risks to cost come from multiple sources including uncertain project duration, which is often ignored in cost risk analyses. In short, experience shows that cost estimating on projects is rarely successful - cost overruns routinely occur. There are effective ways to estimate the impact on the cost of complex projects from project risks of all types, including traditional cost-type risks and the indirect but often substantial impact from risks usually thought of as affecting project schedules. Integrated cost-schedule risk anlaysis helps us determine how likely the project will go over budget with the current plan, how much contingency reserve is required to achieve a desired level of certainty, and which risks are most important so the project manager can mitigate them and achieve a better result. Integrated Cost-Schedule Risk Analysis provides solutions for these and other challenges. This book follows on from David Hulett's highly-praised Practical Schedule Risk Analysis. It focuses on the way that schedule risk can generate cost risk, and how to handle this relationship. It also applies the Risk Driver Method to the analysis so that you can clearly and transparently identify the key risks, rather than just the most risky cost line items. With detailed worked examples and over 70 illustrations, Integrated Cost-Schedule Risk Analysis offers the definitive guide to this critically important aspect of project management from surely the world's leading commentator.

Practical Schedule Risk Analysis and Integrated Cost-Schedule Risk Analysis

Practical Schedule Risk Analysis and Integrated Cost-Schedule Risk Analysis PDF Author: David Hulett
Publisher: Gower Publishing Company
ISBN: 9781409437673
Category : Business & Economics
Languages : en
Pages : 480

Book Description
This two volume collection of David Hulett's Practical Schedule Risk Analysis and Integrated Cost-Schedule Risk Analysis provides a rigorous and detailed guide for the project risk specialist to two of the three key elements of the project triangle: time and cost. With detailed worked examples and copious illustrations, this two-volume set offers the definitive guide to these critically important aspects of project management from surely the world's leading commentator.

Integrated Cost-Schedule Risk Analysis

Integrated Cost-Schedule Risk Analysis PDF Author: David Hulett
Publisher: CRC Press
ISBN: 1317115309
Category : Business & Economics
Languages : en
Pages : 240

Book Description
Project managers tend to believe their cost estimates - whether they have exceeded budgets in the past or not. It is dangerous to accept the engineering cost estimates, which are often optimistic or unrealistic. Though cost estimates incorporate contingency reserves below-the-line, these estimates of reserves often do not benefit from a rigorous assessment of risk to project costs. Risks to cost come from multiple sources including uncertain project duration, which is often ignored in cost risk analyses. In short, experience shows that cost estimating on projects is rarely successful - cost overruns routinely occur. There are effective ways to estimate the impact on the cost of complex projects from project risks of all types, including traditional cost-type risks and the indirect but often substantial impact from risks usually thought of as affecting project schedules. Integrated cost-schedule risk anlaysis helps us determine how likely the project will go over budget with the current plan, how much contingency reserve is required to achieve a desired level of certainty, and which risks are most important so the project manager can mitigate them and achieve a better result. Integrated Cost-Schedule Risk Analysis provides solutions for these and other challenges. This book follows on from David Hulett's highly-praised Practical Schedule Risk Analysis. It focuses on the way that schedule risk can generate cost risk, and how to handle this relationship. It also applies the Risk Driver Method to the analysis so that you can clearly and transparently identify the key risks, rather than just the most risky cost line items. With detailed worked examples and over 70 illustrations, Integrated Cost-Schedule Risk Analysis offers the definitive guide to this critically important aspect of project management from surely the world's leading commentator.

Practical Schedule Risk Analysis

Practical Schedule Risk Analysis PDF Author: David T. Hulett
Publisher: Gower Publishing, Ltd.
ISBN: 9780566087905
Category : Business & Economics
Languages : en
Pages : 248

Book Description
Practical Schedule Risk Analysis, contains a complete treatment of schedule risk analysis from basic to advanced concepts. Benefits of the process, relationship to traditional critical path method scheduling and to project management, the role of the corporate culture in ensuring success and the criticality of collecting risk data are emphasized for the benefit of the practitioner. The final chapter illustrates how schedule risk is related to cost risk and showing how to get the information out of the schedule, effectively predicting the second book in the series, practical cost risk analysis.The methods are introduced at the simplest level (e.g., Why is the duration of an activity uncertain? and How do we represent that uncertainty with a probability distribution?) and are progressively elaborated (e.g., How does uncertainty of activities along a path lead to more uncertainty of the path's completion date?) with simple examples illustrating the point at each step of the way. At the end of this progression, the most powerful and advanced capabilities available today in commercial software are discussed. This method of progressive elaboration has been proven successful in the classroom and lectures at conferences.The intent is to present an approach that is practical. People with all types of projects and in all industries should be able to apply it themselves. Schedule risk analysis is a process that is industry-independent, and examples from real projects (specifics not revealed) are referenced from construction, oil and gas, information systems, environmental restoration and aerospace / defense.One specific goal is to de-mystify the process. Some people are put off by the term 'quantitative schedule risk analysis', the use of statistical terms and the mention of tools such as Monte Carlo simulation. The fact is that practitioners will not need to know statistics in order to be successful schedule risk analysts. Any statistical concepts needed are explained in simple terms and the minimum of statistics are used here (e.g., What is a probability distribution and why should we use it? or How do I interpret the results of a Monte Carlo simulation?).

Risk Management for Design and Construction

Risk Management for Design and Construction PDF Author: Ovidiu Cretu
Publisher: John Wiley & Sons
ISBN: 047063538X
Category : Technology & Engineering
Languages : en
Pages : 288

Book Description
The essential risk assessment guide for civil engineering, design, and construction Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk. Highlights include: Integrated cost and schedule risk analysis An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks A methodology that was developed and used by the Washington State Department of Transportation Case studies and examples on the proper application of principles Information about combining value analysis with risk analysis "This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance." —JOHN MILTON, PHD, PE Director of Enterprise Risk Management, Washington State Department of Transportation

Risk Analysis of Defence Acquisition Projects

Risk Analysis of Defence Acquisition Projects PDF Author: Abderrahmane Sokri
Publisher:
ISBN:
Category : Risk assessment
Languages : en
Pages : 33

Book Description


Integrated Schedule and Cost Risk Analysis Using Monte Carlo Simulation

Integrated Schedule and Cost Risk Analysis Using Monte Carlo Simulation PDF Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 43

Book Description


Project Risk Management

Project Risk Management PDF Author: Yuri Raydugin
Publisher: John Wiley & Sons
ISBN: 1118482433
Category : Business & Economics
Languages : en
Pages : 400

Book Description
An easy to implement, practical, and proven risk management methodology for project managers and decision makers Drawing from the author's work with several major and mega capital projects for Royal Dutch Shell, TransCanada Pipelines, TransAlta, Access Pipeline, MEG Energy, and SNC-Lavalin, Project Risk Management: Essential Methods for Project Teams and Decision Makers reveals how to implement a consistent application of risk methods, including probabilistic methods. It is based on proven training materials, models, and tools developed by the author to make risk management plans accessible and easily implemented. Written by an experienced risk management professional Reveals essential risk management methods for project teams and decision makers Packed with training materials, models, and tools for project management professionals Risk Management has been identified as one of the nine content areas for Project Management Professional (PMP®) certification. Yet, it remains an area that can get bogged down in the real world of project management. Practical and clearly written, Project Risk Management: Essential Methods for Project Teams and Decision Makers equips project managers and decision makers with a practical understanding of the basics of risk management as they apply to project management. (PMP and Project Management Professional are registered marks of the Project Management Institute, Inc.)

Project Risk Quantification

Project Risk Quantification PDF Author: John K. Hollmann
Publisher:
ISBN: 9781941075029
Category :
Languages : en
Pages : 416

Book Description
Project Risk Quantification presents the most practical, realistic, and integrated approach to project cost and schedule Risk Quantification that is available today. It offers proven, empirically-valid methods and tools applicable to projects of all types and at all decision gates. The text is written for both the manager and the risk analysis practitioner. It will bring reliable accuracy and contingency determination to your capital project organization.

Cost Engineering

Cost Engineering PDF Author:
Publisher:
ISBN:
Category : Cost control
Languages : en
Pages : 592

Book Description