Risk Management Consultants
VTI Consultants performs schedule risk analysis that is typically a threat and opportunity for your project success through our expert risk management consultants. Our schedule risk analysis involves risk management to identify, analyse, qualify, and quantify risk. We routine this analysis during the development of baseline schedule and schedule updates through our risk management consultant.
Risk Management Services
Our risk management services involve a fair and accurate CPM Schedule by creating efficient practices to inspect the quality, reasonableness, and effectiveness of the network model. Our risk management consulting services rely on a well-designed CPM Baseline Schedule. We strategize to perform a risk analysis and involve accuracy and consistency in network logic calculations. We sequence a reasonable approach for estimating several activity durations.
Monte Carlo Technique by our Risk Management Consultants
Our Monte Carlo technique is for general duration uncertainties to analyze risks from functional relationships and event risks. Our risk management consultants use this technique to run a vast number of iterations and rely on duration estimates.
Schedule Risk Types
Our Schedule Risk falls into the following areas:
- General Duration Uncertainty.
- Specific Risk Events.
- Network logic risks exist or increase as a result of the active relationships.
Specific terms that depict Risk Analysis for stakeholders
We manage the following terms that are relevant to the risk associated with Stakeholders.
Risk Management
Our expert risk management consultants determine several uncertainties during project delivery and implement actions to achieve project objectives.
Time Contingency
We manage to calculate the limited amount of time to add into the base duration and allow unknown impacts of a project schedule during Risk Analysis.
Probability
We measure the likelihood of occurrence in an event during the Risk Analysis of your construction project.
Risk register
We have a checklist of potential risks during the phase of risk identification in Risk Management.
Risk Allocation
We manage to determine a response to several risks, including shifting risk, avoiding risk, preventing or eliminating risks, and incorporating risks into a schedule.
Deterministic
VTI Consultants is versatile to estimate single activity to utilize the work quantity divided by the production rate during Risk Analysis.
Probabilistic
Our risk management consultants determine risk likelihood by evaluating the duration range from the risk-adjusted period. We used this in schedule recognition that has no certainties of future durations.
Monte Carlo Analysis
This probabilistic approach by our experts helps to examine the completion dates of a project schedule by evaluating durations as probability distributions during the Risk Analysis of your construction project.
What-if scenario
We extensively use the What-if scenario in a CPM Schedule to identify the consequences of the risk of your construction project.
Qualitative Analysis
Our team of expert consultants determines the likelihood of a risk occurring during the project and assesses the severity of the risk by prioritizing the risks’ resultant list.
A rational approach by our risk management consultants
Our risk management consultants show a rational approach that follows the timely identification of risks through the following principles.
- Risk should be relevant to the party who can effectively control it.
- Risk should be relevant to the party which bears a risk at its lowest cost.
- It should be assigned to the owner when no other party controls the risk or bears the loss.
- Few assumptions of risk by other parties to a construction process result in an increase in cost to the owner.
Upload project files that define the scope of work (drawings, specifications). We will review and get back with a questionnaire about the project, quote and expected completion date
Our Schedule Risk Management Process
We perform Schedule Risk Management with the following step-by-step process of your construction project.
- We plan risk management.
- We schedule Risk analysis.
- We perform a qualitative analysis of the identified risks and establish priorities.
- Our consultant performs quantitative analysis of the qualified risk.
- We address risk by avoiding, shifting, preventing or accepting and incorporating remaining risks into a schedule.
- Our team monitors and updates the risk management plan while evaluating existing and identification of new risks.
Few Consequences During Risk Analysis
We usually face consequences that include several ranges of impacts. Following are the few consequences during Risk Analysis.
- Negligible Consequences.
- Acceptable Consequences.
- Marginal Consequences.
- Critical Consequences.
- Catastrophic Consequences.
Expected Value Analysis
Our statisticians combine the likelihoods of different outcomes of an event with their correspondence of potential consequences known as Expected Value. We usually adjust this value by the probability of occurrence. It mainly involves several possible outcomes and their likelihood.
Our Risk Management Services
We usually deliver the following risk management services to our clients.
- Disaster prevention and relief planning
- Risk identification
- Constructability review
- International risk evaluations
- Multi-variability regression analysis
- Sensitivity analysis
- Cost escalation analysis
- Cost forecasting
- Delays and disruptions
- Decision risk analysis
- Damage assessment
- Schedule forecasting
- Modeling risk profiles
- Risk monitoring
Are you exploring “Risk Management Consultant near me”?
We are here to assist you by performing schedule risk analysis that is commonly a threat and opportunity for your project’s success through our expert risk management consultant. While performing schedule risk analysis, we also involve risk management in which the process of identification, analysis, qualification and quantification of risk involve timely.