Schedule Risk Analysis – What is it and why is it worth doing?
From ChatGPT: Schedule risk analysis using Monte Carlo simulation enhances project planning, risk management, and decision-making by providing a more accurate understanding of schedule uncertainties and their potential impact on project outcomes.
What ChatGPT doesn’t say is that Schedule Risk Analysis (SRA) is one of the easiest and low-cost ways to reduce effort and improve profitability. Capturing information about uncertainty and risk doesn’t have to be time-consuming and can be quickly incorporated into schedules to make more reliable forecasts, which improves opportunities for future work (more profit) and more reliable deliveries (more repeat business).
This session will cover the basics of capturing uncertainty and risks, applying the information to a schedule, and presenting the results.
- Understand the basis of uncertainty and risk.
- Apply uncertainty and risks to a schedule.
- Interpret probability distribution histograms and S-curves.
- Use Sensitivity Analysis (Tornado) charts to find opportunities for improving outcomes.
Interested in getting in touch with the presenter? Contact John Owen at email@example.com
PMI PDUs: 1 Ways of Working, 0 Power Skills, 0 Business Acumen