Experiences and Lessons Learned in Project Risk Management

Abstract

The paper describes a state-of-the-art computer-based project risk analysis technique which has been in widespread use since 1970. The technique has been used to assist in management of project risk on over a hundred projects worldwide, with a total value of over projects worldwide, with a total value of over $55 billion. PROMAP V resembles conventional deterministic project management tools only in that it uses the conventional critical path network as the framework for a project risk model. The model is then analyzed to determine the interrelated schedule and cost risks resulting from time, cost, and technical performance uncertainties. At the same time, the model serves in the usual way the routine functions of project estimating, planning, scheduling, resourcing, costing, and control.

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Document Details

Document Type
Technical Report
Publication Date
Jul 15, 1983
Accession Number
ADP002315

Entities

People

  • A. M. Feiler

Tags

Communities of Interest

  • Energy and Power Technologies
  • Human Systems

DTIC Thesaurus Topics

  • Acquisition
  • Base Lines
  • Business Administration
  • Contingency Operations (Military)
  • Contractors
  • Contracts
  • Cost Estimates
  • Coverings
  • Lessons Learned
  • Management Personnel
  • Procurement
  • Project Management
  • Risk
  • Risk Analysis
  • Risk Management
  • Software Development
  • Standards

Fields of Study

  • Computer science

Readers

  • Economics
  • Life Cycle Cost Analysis
  • Operations Research