Probabilistic scheduling and risk analyses provide organizations an effective tool to help project stakeholders deliver projects efficiently: on time and on budget.
Probabilistic scheduling involves the application of statistical methodologies in conjunction with traditional critical path scheduling. This technique identifies both general uncertainties in schedule durations, as well as specific risk events that can threaten the timely delivery of a project. Analyzing the schedule with probabilistic methodologies provides decision makers with the best insight enabling timely and informed decisions.
Probabilistic risk analysis is the application of statistical methodologies to cost planning and forecasting. Through early identification of project risk areas, project stakeholders are better able to manage economic resources and minimize the risk of major cost overruns.
Exponent's Experience
Exponent’s Construction Consulting professionals advise leading companies in risk intensive industries, such as oil and gas, with probabilistic scheduling and cost analysis. Each hour of lost production has a significant financial impact for our clients. Exponent's unique probabilistic scheduling and cost analysis methodologies, along with its staffs experience and expertise, provide detailed insight into project risk areas, and enable clients the ability to manage projects on time and within budget.
