SERVICES.
SCHEDULE RISK ANALYSIS
Focus can identify, measure and mitigate potential risks that could impact the success of your project.
Performing Schedule Risk Analysis allows us to create a range of outcomes for your project with a calculated chance of success,
creating a schedule that is achievable within the various project stages.
What is the objective of a Schedule Risk Analysis?
Projects are often subject to a range of risks including schedule delays caused by unforeseen events such as equipment failure, weather conditions, or changes in regulatory requirements. Conducting a Schedule Risk Analysis (SRA) allows us to assess the likelihood of achieving your project's objectives within the specified time frame and to identify potential schedule delays and their impact on project outcomes. This ensures that projects are completed on time, within budget and with the required quality standards to meet stakeholder expectations.
What does an SRA with Focus involve?
The process involves a comprehensive workshop to:
- Identify and quantify the risks associated with the project's schedule
- Evaluate the likelihood of schedule delays
- Develop mitigation / contingency actions and plans
- Re-evaluate the post-mitigated schedule and access project contingency
During the workshop we will discuss previously identified risks and opportunities and the likelihood of these occurring. We then scrutinise the cost and schedule impact of these risks and opportunities. This allows us to assist your project team to identify critical paths, bottlenecks, and areas of the project that require additional resources or attention to stay on schedule.
If a risk register is not in place, this process can also be facilitated with industry standard measurement & assessment tools. This may include the use Boston Square assessment criteria, where each risk or opportunity can be evaluated according to the impact on the schedule and the probability of occurrence.
Why choose Focus?
Our knowledge and experience in Schedule Risk Analysis has allowed our clients a more realistic approach to project commitments, creating a schedule that is achievable within the various project stages. We regularly help clients to consider risks and opportunities in a timely manner, allowing suitable mitigation to be put in place. In many cases this can prevent the risk becoming reality.
Examples of a recent SRA output for a Well Decommissioning campaign in the UK North Sea. (Distribution graph & Tornado charts)
Improve performance and achieve your project objectives, contact us to talk about Schedule Risk Analysis.
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