Return on Investment
An Acumen risk workshop tells you how realistic the project schedule and/or cost estimate are. The workshop provides the answers to these questions:
- How well has the schedule been constructed?
- What are the true critical paths?
- Is the planning consistent throughout the work breakdown structure?
- Where are the high risk activities and key risk event drivers that can undermine the project?
- What can I do to reduce cost and schedule risk exposure?
Successful risk analysis lays the foundation for schedule acceleration (Acumen S4). The risk analysis results can be used to find activities and network paths that have the biggest opportunity to accelerate key milestones and project deliverables while maintaining high confidence levels.
Reduced project costs
Lower risk exposure, less required contingency, fewer risk hot spots and hidden critical paths all mean reduced project costs and potential cost overruns.
Risk exposure reduction
After determining risk exposure, Acumen workshops produce alternate accelerated, risk-adjusted scenarios. These scenarios address and resolve common scheduling flaws and help determine whether applying contingency or investing in mitigation efforts is best.
Successful risk mitigation requires a careful accounting of the cost, time and effort attached to each mitigation step. This data can be used for the detailed ROI analysis required to defend the final mitigation choices made by the project teams.
Acumen’s risk assessment methodology has been used on CAPEX projects totaling over $300 billion, and led to a 10% average reduction in project costs, 20% average schedule acceleration and saw a 91% forecasting accuracy.