Cost and schedule risk
Before making a decision, have an understand of realistic schedule and costs. Most projects under perform by being over cost and behind schedule compared to the budget proposed assessment of each. We will describe and demonstrate how to incorporate uncertainty into these estimates and assist in improving each through management focus and consideration of alternatives. It is important to understand the incremental value of reducing schedule considering the interaction of all uncertainties. We will demonstrate using an Excel model built with the SIPmath tool that could be utilized by project teams.
About The Speakers
Decision Quality Consultant, Putt DQ Consulting
Brian is currently a Decision Quality Consultant to assist organizations in making good decisions using probabilistic analysis. He maintains a YouTube Channel that include a number of instructional videos on Excel and SIPmath applications. After retirement from Chevron in 2016 he has volunteered with the non-profit Probability Management (www.probabilitymanagement.org) to promote Decision Quality using SIPmath. Brian is also active in the Society of Decision Professionals (SDP) and is chairing the Greater San Francisco Bay Area Chapter which brings together practitioners of Decision Quality and other individuals such as Data Scientists that are interested in the subject with the objective of promoting better decision quality. He also leads an SDP interest group on Cost and Schedule Risk analysis.