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(RISK-2459) (Panel Discussion) DRM Special Track on Quantification Methods

Level: Intermediate
Author(s): James E. Arrow, DRMP; Colin H. Cropley; Dr. David T. Hulett, FAACE; John K. Hollmann, PE CCP CEP DRMP FAACE Hon. Life
Venue: 2017 AACE International Annual Meeting, Orlando, FL

Abstract: The DRM subcommittee has put together a special 2-day track of presentations and panel discussions on the subject of Project Cost and Schedule Risk Quantification Methods: Alternative Methods. This closing panel discussion uses a compiled table as a focal point of discussion to summarize the papers presented over the two days.

The purpose of the track is to present in a single venue, representations of the leading project cost and schedule risk quantification methods in use by various parties and industries in different settings. Presenters are to summarize their approach as they see fit showing how their method addresses the RP 40R-08 principle attributes in a simple table template. Each paper is to include an appraisal of the strengths and weaknesses of the subject method for the presenters situation while avoiding criticizing other methods. In this way, attendees will be introduced to the methods while also being given a consistent way to compare how each may best fit their needs and requirements. One intended outcome of these discussions is to revise 40R-08.