Quantitative Cost and schedule Risk (QCRA, QSRA) Modelling of Weather event.
Introduction Tough, rigid, and uncertain conditions ground and environmental conditions in a remote location can be treacherous. Weather calamity can be a known-unknown or unknown – unknown event with huge impact. Generally, quantitative cost & schedule and Cost (QSRA & QCRA) model are developed for catastrophic events like Hurricane, Tornado and flood etc. Case Study […]
Digital Risk Analysis using Monte Carlo Simulation using Monte Carlo Simulation (MCS)
Questions: What is Digital Risk Management? Why Schedule for Agile environment? How Monte Carlos Simulation will help to answer the question and concerns of key stakeholders. Digital World: Digital electronics provides the basis for fourth industrial revolution or second (2nd) machine age. It is evolving and following “Morse Law” and expanding exponentially. Computing power is also growing substantially to provide support in planning, […]
SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY
SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY Keywords: Schedule, Critical Path (CP), Milestone, Deterministic Value, 3-Point estimates, Monte Carlo Simulation, Correlation, Iteration, Cumulative Frequency Chart, Probabilistic Branching, Distribution, Triangular Distribution, Categories, Duration, Finish Date, Uncertainty, Skewness, Positively Skewed, Negatively Skewed. Summary: A schedule risk analysis (SRA) uses a risk-based project schedule (derived from the master […]