EMERGENCY INFORMATION - To be displayed on a situational basis. Hidden otherwise.
Specifications and Estimates
Estimates
Risk Analysis and Management Program
Risk analysis and risk management is important in order to deliver projects within budget and on-schedule. It is also important for stabilizing and supporting the Work Program by providing better project cost estimates and schedules. Risk analysis involves replacing the traditional cost contingency with a risk-based contingency. Risk items (both threats and opportunities) are identified and quantified through this process. These items are analyzed using a Monte-Carlo simulated program to provide cost and schedule ranges from which a reasonable contingency can be determined. The Risk items can then be managed by Project Managers to reduce (or control) project cost and schedule.
