The objective of a Quantitative Schedule Risk Analysis (QSRA) is to forecast the completion (or intermediate milestone) of your project. Understanding of the key risks, opportunities & uncertainties driving the forecast are an integral part of any exercise.

Quantitative Schedule Risk Analysis

 

There are multiple ways to conduct a QSRA. Some common examples include extrapolating from past trends – either other projects or the one being analysed if already underway, using specialist Monte Carlo software to analyse a project schedule/network/Gantt.

The graph to the right shows typical outputs from a Monte Carlo QSRA on a project schedule using a range of possible completion dates.

qsra_histogram

 

qsra_tornado

Individual Risk Influence on the Project Schedule

A QSRA will show the key driving risks that can impact a projects schedule. The tornado chart to the left is a graphical representation of the key drivers of the forecast.

 

What a QSRA can do for you

  • Provide a realistic forecast
  • Illuminate the key driving factors
  • Quantify the time and schedule benefits of intervention

How this will help

  • Organisational decision making
  • Risk efficient choices
  • Project selection