Integrated Cost Schedule Risk Analysis

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.

Author: David Hulett

Publisher: CRC Press

ISBN: 1317115309

Category: Business & Economics

Page: 240

View: 128

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

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 ...

Author: David Hulett

Publisher: Gower Publishing Company

ISBN: 9781409437673

Category: Business & Economics

Page: 480

View: 103

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.

Risk Management for Design and Construction

This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty.

Author: Ovidiu Cretu

Publisher: John Wiley & Sons

ISBN: 047063538X

Category: Technology & Engineering

Page: 288

View: 709

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

Modern Risk Quantification in Complex Projects

Hulett, D. 2017. Monte Carlo Simulation for Integrated Cost-Schedule
RiskAnalysis: Concepts, Methods, and Tools for Risk Analysis and Mitigation, in
Y. Raydugin (ed) Handbook of Research on Leveraging Risk and Uncertainties
for Effective ...

Author: YURI. RAYDUGIN

Publisher: Oxford University Press, USA

ISBN: 0198844336

Category:

Page: 352

View: 879

Project practitioners and decision makers complain that both parametric and Monte Carlo methods fail to produce accurate project duration and cost contingencies in the majority of cases. Apparently, these methods have unacceptably high systematic errors as they miss out critically important components of project risk exposure. In the case of complex projects, the components associated with structural and delivery complexity are often overlooked. Modern Risk Quantification in Complex Projects: Non-linear Monte Carlo and System Dynamics Methodologies zeroes in on the most crucial but systematically overlooked characteristics of complex projects. Any mismatches between two fundamental interacting subsystems - a project structure subsystem and a project delivery subsystem - result in non-linear interactions of project risks. Three kinds of the interactions are distinguished - internal risk amplifications stemming from long-term ('chronic') project system issues, knock-on interactions, and risk compounding. Affinities of interacting risks compose dynamic risk patterns supported by a project system. A new methodology to factor the patterns into Monte Carlo modelling referred to as "non-linear Monte Carlo schedule and cost risk analysis" (N-SCRA) is developed and demonstrated. It is capable of forecasting project outcomes with high accuracy even in the case of most complex and difficult projects, including notorious projects-outliers, and it has a much lower rate of systematic error. In this book, the power of project system dynamics is uncovered. It can be adopted as an accurate risk quantification methodology in complex projects, and the results produced by the system dynamics and the non-linear Monte Carlo methodologies are well-aligned. All built Monte Carlo and system dynamics models are available on the book's companion website.

Commerce Justice Science and Related Agencies Appropriations for 2015

... perform an updated integrated cost and schedule risk analysis , primarily due
to shortcomings in the schedule that was ... performs monthly integrated
programmatic and cost / schedule risk analyses through its assessments and
updates of ...

Author: United States. Congress. House. Committee on Appropriations. Subcommittee on Commerce, Justice, Science, and Related Agencies

Publisher:

ISBN:

Category: Administrative agencies

Page:

View: 408


Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management

The Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management is a comprehensive reference source for emerging perspectives of managing risks associated with the execution and development of projects.

Author: Raydugin, Yuri

Publisher: IGI Global

ISBN: 152251791X

Category: Business & Economics

Page: 504

View: 775

The proper understanding and managing of project risks and uncertainties is crucial to any organization. It is of paramount importance at all phases of project development and execution to avoid poor project results from meager economics, overspending, reputation and environmental damage, and even loss of life. The Handbook of Research on Leveraging Risk and Uncertainties for Effective Project Management is a comprehensive reference source for emerging perspectives of managing risks associated with the execution and development of projects. Highlighting innovative coverage written by top industry specialists, such as complexity theory, psychological bias and risk management fallacies, probabilistic risk analysis, and various aspects of project decision making, this book is ideally designed for project and risk managers, project engineers, cost estimators, schedulers, safety and environmental protection specialists, corporate planners, financial and insurance specialists, corporate decision makers, as well as academics and lecturers working in the area of project management and students pursing PMP, PMI-RMP, ISO 31000, etc. certification.

Project Risk Quantification

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.

Author: John K. Hollmann

Publisher:

ISBN: 9781941075029

Category:

Page: 416

View: 458

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.

A Collection of Technical Papers

This function is the basis of a rational integrated cost / schedule risk analysis .
The experience with the computerized approach was encouraging . However ,
there are problem areas which need further improvement : parametric equations
and ...

Author:

Publisher:

ISBN:

Category: Fighter planes

Page:

View: 504


Computing in Civil Engineering

The most prevalent use for cost risk analysis has been in the determination of an
appropriate amount for project cost ... Integrated Approaches As alluded to earlier
, there is a strong interrelationship between project costs and schedule - - a ...

Author:

Publisher:

ISBN:

Category: Civil engineering

Page:

View: 150


GAO Cost Estimating and Assessment Guide

This Cost Guide has been developed in order to establish a consistent methodology that is based on best practices and that can be used across the fed. gov¿t. for developing, managing, and evaluating capital program cost estimates.

Author: Barry Leonard

Publisher: DIANE Publishing

ISBN: 143791702X

Category:

Page: 438

View: 774

To use public funds effectively, the gov¿t. must meet the demands of today's changing world by employing effective mgmt. practices and processes, including the measurement of gov¿t. program performance. Legislators, gov¿t. officials, and the public want to know whether gov¿t. programs are achieving their goals and what their costs are. To make those evaluations, reliable cost information is required and fed. standards have been issued for the cost accounting that is needed to prepare that information. This Cost Guide has been developed in order to establish a consistent methodology that is based on best practices and that can be used across the fed. gov¿t. for developing, managing, and evaluating capital program cost estimates. Illustrations.

Integrated Project Management Sourcebook

This handbook is a unique, comprehensive resource for professional project managers and students in project management courses that focuses on the integration between baseline scheduling, schedule risk analysis and project control, also ...

Author: Mario Vanhoucke

Publisher: Springer

ISBN: 3319273736

Category: Business & Economics

Page: 287

View: 473

This handbook is a unique, comprehensive resource for professional project managers and students in project management courses that focuses on the integration between baseline scheduling, schedule risk analysis and project control, also known as Dynamic Scheduling or Integrated Project Management and Control. It contains a set of more than 70 articles. Each individual article focuses on one particular topic and features links to other articles in this book, where appropriate. Almost all articles are accompanied with a set of questions, the answers to which are provided at the end of the book. This book is accompanied by and is based on the Project Management Knowledge Center (www.pmknowledgecenter.com), an online learning platform for Integrated Project Management.

1998 Guide to the Evaluation of Educational Experiences in the Armed Forces

Learning Outcomes : Upon completion of the course , the student be able to
coordinate among program functional areas ; integrate cost , schedule , and
performance ; perform risk analysis and trade off analysis ; develop the
longrange ...

Author: American Council on Education

Publisher: Greenwood

ISBN: 9781573561044

Category: Education

Page: 456

View: 523

This guide is the standard reference work for recognizing learning acquired by military personnel for conversion to academic credit in degree work at colleges and universities. This volume contains recommendations for formal courses offered by the Air Force, the Coast Guard, the Marine Corps, and the Department of Defense in 1990 and later years. Twenty sections provide the following information: (1) how to find and use course exhibits; (2) sample Coast Guard Rating exhibit; (3) how to find and use Coast Guard occupation exhibits; (4) sample Coast Guard rating exhibit; (5) how to find and use Coast Guard warrant officer exhibits; (6) sample Coast Guard warrant officer exhibit; (7) how to find and use Marine Corps MOS (military occupational specialties) exhibits; (8) sample Marine Corps enlisted MOS exhibit; (9) questions and answers; (10) awarding credit for extrainstitutional learning; (11) transfer and award of credit; (12) elements of a model policy on awarding credit for extrainstitutional learning; (13) Air Force course exhibits; (14) Coast Guard course exhibits; (15) Department of Defense course exhibits; (16) Marine Corps course exhibits; (17) Coast Guard aviator exhibits; (18) Coast Guard enlisted ratings exhibits; (19) Coast Guard warrant officer exhibits; and (20) Marine Corps enlisted MOS exhibits. Each course exhibit includes some or all of the following: course number, title, location, length, dates, learning outcomes, instruction, occupational group, description, career pattern, related occupations, and credit recommendation. The guide also contains eight appendixes: the evaluation systems, sample military records, occupation title index, keyword index, course number index, request for course recommendation, and request for Coast Guard rating and warrant officer exhibits, and request for Marine Corps MOS exhibits. (KC)

EARNED VALUE MANAGEMENT Integrated View of Cost and Schedule Performance

This book is organized with a brief overview of EVM, highlighting the key management questions EVM can help answer and exploring where EVM fits into the projet management universe.

Author: Piyush Solanki

Publisher: Global India Publications

ISBN: 9789380228525

Category: Cost control

Page: 312

View: 261

This book is organized with a brief overview of EVM, highlighting the key management questions EVM can help answer and exploring where EVM fits into the projet management universe. It also emphasizes EVM Performance Analysis and contains the basic elements of Earned Value Management. This book also outlines basic EVM practices in their project management context and shows how EVM practices facilitate project planning and control for better management of project cost and schedule performance.

Government Reports Announcements Index

Author:

Publisher:

ISBN:

Category: Science

Page:

View: 308


ASCE Combined Index

Author: American Society of Civil Engineers

Publisher:

ISBN:

Category: Civil engineering

Page:

View: 270

Indexes materials appearing in the Society's Journals, Transactions, Manuals and reports, Special publications, and Civil engineering.

1981 Proceedings

Cost - Risk Procedures for Weapon System Risk Analysis Gerald R . McNichols ,
Sc . D . ; Management Consulting & Research ... Analysis , Cost - Risk
Uncertainty Abstract system is likely to achieve its predicted performance within
the predicted cost and schedule goals . ... a system for performing risk analysis
and tification of risks and the steps required integrating cost consequences into
the model .

Author:

Publisher:

ISBN:

Category: Maintainability (Engineering)

Page: 473

View: 369


Cost Engineering

Systems , applications , and products in PLANNING AND INTEGRATION : The
Planning and Integration division data ... This division controls the techni all
supporting systems ( hardware Strategic Planning cal , cost , and scheduling
risks ... look , the Prioritizing Productivity RTBF Resource loading Variance
analysis implementation and integration were diffiWFO " What if " scenarios
Trend analysis cult .

Author:

Publisher:

ISBN:

Category: Cost control

Page:

View: 896


Development of Integrated Programs for Aerospace Vehicle Design IPAD

... PROCESS / OUTPUT INPUT INTERFACING GROUP BALLAST SYSTEM
DATA ENGINEERING ANALYSIS & DESIGN ... WEIGHT
DISTRIBUTIONFINANCE COST & SCHEDULES RISK & COST ASSESSMENT
CONFIGURATION CONTROL ...

Author: Donald D. Meyer

Publisher:

ISBN:

Category: Jet transports

Page: 363

View: 868

The airplane design process and its interfaces with manufacturing and customer operations are documented to be used as criteria for the development of integrated programs for the analysis, design, and testing of aerospace vehicles. Topics cover: design process management, general purpose support requirements, design networks, and technical program elements. Design activity sequences are given for both supersonic and subsonic commercial transports, naval hydrofoils, and military aircraft.

Field Guide to Project Management

... 373 – 374 Regression analysis , 151 Replanning , 496 Reporting : EVM , 139 -
141 integrated - cost - andschedule ... 171 Schedules , 144 , 235 Schedule -
based risk finding , 206 Schedule of activities , 77 Schedule performance index ...

Author: David I. Cleland

Publisher: John Wiley & Sons Incorporated

ISBN:

Category: Business & Economics

Page: 635

View: 179

Publisher Description

Estimating Software Costs

... for backfiring or conversion from LOC to function points • Integrated quality and
reliability estimating • Integrated risk analysis Phase - level development
schedule , cost , and resource estimates • Maintenance and enhancement
estimates for ...

Author: Capers Jones

Publisher: McGraw-Hill Companies

ISBN:

Category: Computers

Page: 724

View: 596

It is estimated that around 75 per cent of software development projects run over budget. This text has been designed to help software developers accurately measure and estimate the cost of developing new software.