Project Management

Establishing Risk-based Schedule and Cost Contingency

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Premium Content
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$129 /year
(plus $10 application fee)
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Premium Content
PMI Membership
$129 /year
(plus $10 application fee)
Sign up for PMI Membership to view this on-demand webinar and get unlimited access to our library of webinars, time-saving templates and more.
PMI Membership perks include job opportunities, local chapters, respected publications, and standards.   Learn more
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56m 10s
Duration
1.00
PDUs
3,239
Views

Overview

Establishing and managing schedule and cost contingency are integral to project risk management. Yet many organizations still struggle to define and adopt best practices that provide the organization confidence in their contingency setting processes.

In this session we’ll cover the challenges of traditional approaches to setting schedule and cost contingency and why they can undermine project success. We’ll then take a look at an analysis-based approach using an integrated schedule and cost risk analysis to understand the impact of risks on the project, identify risk and quantify the impact of those risks, and then evaluate multiple scenarios to determine the appropriate schedule and cost contingency. This technique provides more insight and confidence for the project team and stakeholders.

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Talent Triangle Alignment

This video qualifies for the following PDUs:
 
PMP/PgMP
CAPM
PMI-ACP
PMI-SP
PMI-RMP
PfMP
PMI-PBA
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Acknowledgements: Kristin Jones, Dean Edmundson, Derrick May and Stephen Strickland

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