Quantifying Cost Estimate Risks – Building Simulation Model with @RISK


  • Introduction to Quantitative Risk Analysis Process, why do we quantify risks?
  • Qualitative Risk Assessment and Quantitative Risk Analysis, why are they different?
  • Inherent Risks to Project Cost Estimates, why are all base estimates “wrongâ€�?
  • The Inputs to Risk Quantification, why is risk workshop required for QRA process?
  • Risk Simulation Model Building, who should be the risk modeller / risk analyst?
  • Correlation and Running Simulation, how important is the correlation matrix in QRA?
  • Generating Contingency with Schedule delay, how is delay quantified into contingency?
  • Contingency & Risk Reserve, what are the differences between contingency and reserve?


2:00pm-4:00pm (EST)
Saturday, Sept 26, 2020