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.