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Forensic Schedule Analysis on Risk-Adjusted Schedules

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Recorded on Wednesday, March 25, 2015

Forensic Schedule Analysis on Risk-Adjusted Schedules

Presented by John Livengood and Patrick Kelly, Navigant

 

It is likely that risk-adjusted schedules will expand beyond their current uses and become more common in buildings and infrastructure construction, as time and cost pressure from owners increases. As this happens, what will be the impact on Forensic Schedule Analysis (FSA), as more risk-adjusted schedules form the basis of delay claims?

 

Risk-adjusted CPM schedules use computer modeling to analyze the likely fluctuation of activity durations resulting from a range of uncertainties and risks, and then analyze the effects of the variations on the schedules float as different chains of activities are given different durations and the amount of float changes. The result is a schedule that has a series of potential critical paths with varying degrees of likelihood, rather than a single Critical Path and sub-critical paths. FSA, however, is predicated on identifying the "single" contemporaneous critical path, often defined as the path with zero float. So what happens when the CPM schedule series has been risk-adjusted so that float is variable and more activities paths are critical?

 

You will leave this informative program with a better understanding of:

 

  • Basics of risk theory
  • Monte Carlo analysis and CPMs
  • What FSA methodologies work best on risk-adjusted schedules
  • And much, much more!

Listen to our scheduling experts to learn more about the fascinating topic of risk-adjusted schedules for both improved project management as well as potential delay analysis applications.

Expert Presenters

John Livengood

Navigant Consulting, Inc.

Mr. Livengood is a managing director in the Global Construction Practice of Navigant Consulting, Inc. John has more than 37 years of experience in construction, design, delay analysis and litigation support. Complete bio.

Patrick Kelly

Patrick Kelly

Navigant Consulting, Inc.

Mr. Kelly is an Associate Director in the Global Construction Practice. He provides services in construction management, contracting, project controls, scheduling, earned value analysis, forensic schedule analysis for delay and disruption, and claims & disputes resolution. Complete bio.

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