Info

to reject application

with financials

DOT—Department of Transportation

DOT—Department of Transportation

A key tool in correcting a schedule for risk is "risk-based scheduling." This is the process of "scrubbing" the schedule to alter durations to offset delays and reflect risk. Some tasks will be longer and others shorter. The risk-based schedule process is as follows:

The purpose is to use risk assessment and analysis information to calculate a risk-based project schedule in Microsoft Project. The risk-based schedule is calculated from the original project schedule, but uses weighted estimates of three possible task durations (expected, pessimistic, and optimistic) to come up with a new project schedule. The new schedule is calculated for individual tasks and "rolled up" to the whole project.

The risk-based schedule is usually a better schedule estimate than the original one because it reflects the best estimates of what could go wrong (risk) and what could go right (controlling risk).

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Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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