Contingency

This unique product is actually two integrated risk analysis and contingency estimating spreadsheet-based tools. One tool is a parametric model designed to address systematic risks such as the level of scope definition, process technology and complexity, and so on. This parametric tool is designed for early estimates (AACE Class 5 and 4). The other tool is for project-specific risks. It uses event tree and expected value methods in a Monte-Carlo simulation model and is designed for more definitive estimates (AACE Class 3). They are integrated to produce a single cost outcome distribution. The Center customizes the tools to align with your company's processes.

The following files provide further information on these products:

• Presentation
• Technical Paper (2007 AACE)