M0070 QRA Service

Concepts

• birmingham
• project management
• consultancy services
• qra service
• m0070 qra service
• qra
• quantitative schedule risk analysis
• quantitative cost risk analysis
• effective risk
• schedule impacts

Location

Description

Effective risk and issue management is crucial to enable Major Projects Directorate (MPD) to make more informed decisions, to set realistic budgets and baselines for risk and uncertainty, to proactively manage risks and ultimately to improve the level of confidence in project and programme's delivery. The Client is looking to set up a contract for provision of a Quantitative Risk Analysis (QRA) Service across MPD. QRA is a process for estimating or calculating the potential risk impact of an event or series of events based on statistical sampling and modelling techniques. It identifies a probabilistic range of outcomes as opposed to a deterministic (single point) estimate for the overall risk impact on a project. QRA encompasses analysis of cost impacts ('quantitative cost risk analysis' or QCRA) and schedule impacts ('quantitative schedule risk analysis', or QSRA).

Award Detail

CPV Codes

• 72224000 - Project management consultancy services