Successful Application of Integrated (Cost, Schedule and Risk) Analysis in Technology Demonstration Projects

This presentation captures ERA Project's effort in using integrated cost-schedule-risk analysis tool, identifying and capturing explicit relationships between program funds, schedule, and discrete risks. The project team merged a myriad of cost and schedule data for timely, objective, uncertainty analysis of the ITD's budget and schedule. The project team conducted detailed schedule uncertainty analysis showing schedule activities and how their interrelationships were impacted, representing an impressive advance beyond routine Gantt charts. Furthermore, the ERA Project collected discrete risk events including their impacts to costs and/or schedule and interwove these risks into cost and schedule logic networks, providing the foundation to conduct cost and schedule analyses. The team integrated this data into the analysis model, providing probabilistic results that were then used by the ERA Project's senior management for decision-making purposes. The ERA Project management team, through technical and pathfinder expertise in integrating cost, schedule, risk, and technical content, consistently provided risk-informed recommendations to Implementing Centers and ISRP senior management which ultimately ensured the successful ARMD Key Decision Point (KDP) review of the ERA Phase 2 ITD Portfolio and increased the likelihood of achieving technical objectives within cost and schedule constraints.