The AACE Australian Section held this webinar on Thursday, 27th August 2020 at 7:30pm.
To view this webinar please go to https://www.youtube.com/watch?v=0jTaydjBnpA&t=6s
Schedule Risk Assessment During Bid Phase:
Case Study: New Soccer Stadium
Presentation by Alberto Sanchez BEng, MSc Log, MIntBus, GradCertEnSt
Abstract: The construction sector is notorious for complex projects with high risk exposure. Historically a high percentage of large construction projects experience significant delays. Often poor planning and risk analysis during the bid phase are a root cause of why projects are late. Fortunately, more contractors recognize that conducting schedule risk analysis as part of the planning process is essential to maximize the chance for a successful project. A case study is presented to illustrate how risks and uncertainties can impact bid schedules, develop appropriate risk treatment plans and schedule contingency leading to more reliable schedules.
Key Words: quantitative risk analysis, deterministic schedules, risk-adjusted schedules, schedule contingency
AACE International Recommended Practices
- 57R-09, Integrated Cost and Schedule Risk Analysis using risk drivers and Monte Carlo Simulation
- 52R-06, Time Impact Analysis as applied in construction
- 44R-08, Risk Analysis and Contingency Determination Using Expected Value
- 65R-11, Integrated Cost and Schedule Risk Analysis and Contingency Determination
- 63R-11, Risk Treatment
- 84R-13: Planning and Accounting for adverse weather