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Schedule Risk and Schedule Risk Analysis

Project Risk Management Group

Posted Tue, 2005-10-25 17:16 by Christy Tullis
I would like to invite everyone to join Project Risk Management Group. You may find some beneficial information on a topic that isn’t discussed as often as many would like. Assessing risk throughout your project helps to ensure that your project comes in on time and on budget.

This is the link, everyone:

http://finance.groups.yahoo.com/group/ProjectRiskManagementGroup/?yguid=...

Hope to see you there! Have a great day!

Baseline / target discussion

Posted Tue, 2005-09-06 10:23 by Stephen Fawcett-J...
Can anyone help on our discussion with our client. We are currently 5 weeks into a shutdown and due to various reasons are behind with the schedule. The client has asked to re-baseline the plan. We are at 35% complete with approximately 4 weeks to go, we have said that we will re-target ("re-baseline") the schedule to meet the original end date. He is insisting on the S Curve being taken back to 0% and to start from the new agreed re-baseline date. This is where we differ we think it should remain at 35% and progress from there. Are we missing the point ?


Cheers

Help wanted for risk analysis.

Posted Fri, 2005-06-10 11:14 by Darrell ODea
Has anyone got a clear tip sheet on risk analysis.
Say a step-by-step guide applicable to the construction industry???

Thanks,
Darrell

Ask for Help

Posted Wed, 2005-06-08 18:24 by J C
Dear all,

I am an MSc postgraduate student of the University of Birmingham. I am working on my final project which is focused on the review of planning software packages (mostly on the Pertmaster and MS project because of the availability of availability of software packages).

I’d like to contact some professional planners and enigeers for constructive advice on my research. Furthermore, it would be appreciated if any related resources could be provided.

All messages can be left my email: constructionmanagement@hotmail.com

Best regards!

Project Risk Analysis

Posted Wed, 2005-02-16 03:54 by David Waddle
There are several risk analysis techniques (eg Monte Carlo) and software available, but do planners actually use any of them in their daily lives?

CPA and ’normal’ disrtribution

Posted Wed, 2005-01-19 09:30 by David Bordoli
Hello

A question, and sorry at this stage it may seem a little ‘off topic’ but if anyone knows the answer I guess it will be you risk experts.

It is generally accepted that the duration of a single activity will have a positively skewed probability distribution. Is the result of a critical path analysis also skewed or will it be normal as a result of the Central Limits Theorem coming into play? That states, basically, that the means of successive random samples taken from a population will be normally distributed whatever the underlying parent distribution.

Pertmaster like a tool without MonteCarlo features

Posted Tue, 2004-12-28 14:58 by Tomasz Wiatr
Dear Forum contributors,

<b>PRAM</b>

Posted Fri, 2004-11-19 06:49 by Philip Rawlings
I hope this does not constitute advertsising (none of the authors are paid) but the 2nd edition PRAM (Project Risk Analysis and Management) Guide is now available.

What size schedule is best for Schedule Risk Analy

Posted Tue, 2004-11-09 04:06 by Colin Cropley
If you have the choice of modelling the uncertainty of your project with a 25 activity schedule, a 250 activity schedule or a 25,000 activity schedule (to choose some numbers arbitrarily), and assuming you are able to model the significant dependencies in the project appropriately in all of those schedule sizes, which size of schedule will you choose and why?

What determines the best size of schedule to use for SRA?
How do you know you are right?

Duration Correlation of activities in a Risk Sched

Posted Tue, 2004-11-09 04:00 by Colin Cropley
I wish to ask forum contributors to address the question "How do you decide which activities in a risk schedule are in reality duration-correlated and by what percentage?"
This is a key question for obtaining reliable results from Schedule Risk Analysis (SRA). Without correlation, as you divide activities into smaller parts, provided you keep the proportions of uncertainty on the activity durations, SRA analysis will show the schedule duration risk to be smaller and smaller. However, from practical experience we know this is not true and the reason is correlation.

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