This case study outlines a quantitative analysis of the contingency required to address cost and schedule uncertainty associated with building a new gas-fired power station.
The project was well into the delivery phase, when attention had shifted from planning and forecasting the work to day-to-day execution. The analysis was a means of reviewing whether the established cost and schedule targets remained realistic. It drew the team’s attention away from immediate pressures to identify areas where additional effort and attention were needed to ensure longer-term success.
Among other things, the case demonstrates the importance of addressing schedule uncertainty when estimating the capital costs of a project.
The full case study ir available here.