Quantitative risk analysis is a mathematical analysis of (typically) the project timescales and/or cost, taking into account estimating uncertainties as well as all identified risks and opportunities. The analysis helps the forward-
However, quantitative risk analysis comes with a health warning. A risk model that is incorrectly generated (say, by solely importing a project schedule) is liable to produce results that are at best worthless and at worst dangerous, for example by indicating a degree of confidence in the project outcome that is ill-
Our consultants are experts at recognising sources of uncertainty and constraint, and at reflecting this in risk models. We typically build integrated cost and schedule risk models to reflect the cost effects of schedule uncertainty in the most faithful manner. Where appropriate, Visual Basic coding is used to allow the models to more accurately represent the possible project situations. We answer the questions others try to answer.
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