Organizations vary in their appreciation
of the potential impact of the risks that could affect their achieving
time and cost goals while completing the project’s scope. This paper
lays out a risk analysis maturity model that allows organizations to
determine: (1) where they are today on the scale from “not aware” to
“advanced integrated cost-schedule risk analysis” and (2) where they
want to be, what is their optimal level of risk analysis maturity. The
levels of maturity are described along with their benefits and
properties including tools and outputs that distinguish them from other
maturity levels. [for a brief discussion of cost risk maturity see 11,
p. 210].
This paper does not mandate that organizations strive to achieve full advanced cost-schedule integration methods and tools (level 5) unless that is desired. Often some projects will require more or less risk analysis maturity depending on size, complexity, type of project or other criteria.
This paper does not mandate that organizations strive to achieve full advanced cost-schedule integration methods and tools (level 5) unless that is desired. Often some projects will require more or less risk analysis maturity depending on size, complexity, type of project or other criteria.