Concepts & Process

An introduction to why we need cost controls and the benefits of PRBE.

Provides an overview of fundamental concepts that serve as the foundation for the application of the PRBE process.  Includes basic terminology, probabilistic contingency, percentile of sum vs sum of percentile, comparison of traditional vs probabilistic, conditionality (dependency and correlation), schedule linkage, and significant vs minor risks.

An overview of recommended steps to apply the PRBE process.  This includes establishing the project context, performing a risk assessment, and writing the report findings.

Provides an overview of the risk workshop in the PRBE process, emphasizing the importance of setting goals, validating estimates, documenting assumptions, and assembling the right participants and resources to effectively assess and incorporate risk into project planning and decision-making.