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- Do you want to ensure project cost and schedule estimates are realistic?
- Do you want to investigate risks that could have a major impact?
- Is your risk management plan robust enough to face any catastrophes that might derail the project?
Schedule planning and cost estimation are each fraught with risks capable of derailing any project. Making this more difficult is that when developing single-point estimates, even those that include contingencies, experts will often underestimate the potential for catastrophic delays or costs. Also, schedule and cost risks are often addressed in isolation when in reality they are fundamentally linked to each other. Failing to model these connections will almost assuredly provide a result that inaccurately represents the actual overall risk of a project.
Quantitative risk analysis provides us with a systematic methodology to identify and analyze potential risks as well as develop solutions to reduce or eliminate their impact. Applying the tools and processes of quantitative risk analysis is one of the most powerful methods available for project managers to identify, quantify and control or mitigate the risks involved in engineering systems. At Vose Consulting, we have experience in helping numerous clients analyze and manage the risks associated schedule, cost and reliability in the engineering and construction planning and management process. We also have experience working with clients to help them understand the risks of damage, failure, and injuries that arise from natural events such as floods, corrosion and disasters. We do this by using statistical and probabilistic risk analysis modeling methods to help our clients make more informed decisions on ways to alleviate risk. Click here to see more details on our capabilities.
PhD, MBA, MSc
Toll Free (US) +1 866 259 7434
Tel +1 303 440 8524
Vose Consulting US Office
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At Vose Consulting we believe in partnering relationships with our clients: that is, we strive to structure our clients' use of our time to maximize their benefit. To that end we prefer to work, wherever possible, alongside the client, demonstrating and teaching as we go the methods we use and sharing as much of the work as possible with the clients personnel. This maximizes the transfer of knowledge, so that the client is better able to understand our work, and more capable of doing future projects by themselves. We aim for long-term relationships with our clients. To view the full list of our clients in this industry, please follow the link at the end of the list "View All Clients".
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- Wellington City Council, New Zealand
- Arup & Environment Agency, UK
- Brown and Caldwell Constructors
- Chesterton plc/Bovis Construction Ltd., UK
- Nottingham Trent Univ, UK
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Problem: A large energy firm planned to build a $500M+ liquid natural gas pipeline. There were considerable risks associated with the project. Based on experience, the firm knew that project costs often exceed budgeted costs by a considerable margin. The firm commissioned Vose Consulting to perform a project cost risk analysis.
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One of Vose Consulting's primary goals is to help clients make better, more informed decisions in the face of uncertainty and risk. We accomplish this goal through a combination of risk analysis consulting, training, and software. We believe that training is essential in all customer engagements. Vose Consulting provides training in many aspects of risk analysis, from general probabilistic modeling to complex financial and project risk analysis. We have a particular focus and expertise on quantitative risk analysis and modeling. Below you can see the list of links to training courses suggested by Vose Consulting.
Scheduled courses
Other courses
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