Risk and Economic Analysis

U.S. COST can perform a full Cost and Schedule Risk Analysis or facilitate Risk Analysis workshops—we’ll customize our approach to meet your needs. 

Cost and Schedule Risk Analyses (CSRA)

Improve the accuracy of your estimates and schedules.  We can create a cost estimate contingency based on a detailed quantitative analysis of cost and schedule risk factors through evaluation of the planning, design, construction, and regulation/oversight components. U.S. COST uses Crystal Ball or @Risk software for Monte Carlo statistical simulation.

• Initial brainstorming/risk identification
• Research and development to further document/quantify risks
• Statistical analysis to calculate the cost impact (contingency) of both cost and schedule risks

The final recommended contingency has proven to be more accurate than typical estimate contingencies. In addition to contingency development, U.S. COST will also recommend risk mitigation measures—if appropriate—as part of the final report.

Facilitated Risk Analysis Workshops

Managing project risk saves money and minimizes construction delays.  U.S. COST conducts stand-alone risk analysis workshops on many different types of projects, yielding either qualitative or quantitative results, depending on the needs of the project and the stakeholders.

The result is a list of risks with ratings for likelihood of occurrence and potential impact. Risks are assessed and recommendations made to avoid, mitigate, or accept the moderate and high-level risks. A quantitative analysis includes the additional effort to estimate the impact of risks on both the cost of the project and the schedule.  This information allows you to better address risk events as they occur.

Customized Risk Management

We can customize a risk management approach to precisely match your needs and budget. Regardless of the scope of effort, the U.S. COST approach is an iterative, consensus-building technique that will help you manage risk throughout the program or project life.

U.S. COST’s risk analysis portfolio includes:

• Public Health Laboratory Workshop; New York, NY
  (NYC Office of Management and Budget)
• Marine Transfer Station Workshop; New York, NY
  (NYC Office of Management and Budget)
• Pit Disassembly and Conversion Facility: Savannah River Site, SC
  (US Army Corps of Engineers)
• C-111 Spreader Canal Project: South Miami-Dade County, FL
  (US Army Corps of Engineers)
• Kissimmee River Restoration: Central FL
  (US Army Corps of Engineers)
• F.J. Horgan Water Treatment Plant Expansion: Toronto, Canada
  (City of Toronto)

Speak to a Risk Analysis Professional

Contact Tom Orr of U.S. COST  at (770)481-1638, or via e-mail at va@uscost.com to learn more about our Cost and Schedule Risk Analyses and Risk Analysis workshops.