7 – 8 September 2023
Risk Decisions is proud to announce our role as a premium sponsor at the tenth biennial RISK conference, organised by the Risk Engineering Society, as we explore the theme of ‘Risk Engineering for a Resilient 2030.’
This conference is a must-attend event for engineering professionals practising risk management and decision-making processes in an engineering context.
Don’t miss the opportunity join our presentation titled ‘How right is that feeling in your bones?’ by our APAC Delivery Consultant, Fernando Patiño. Additionally, we invite you to visit our stand where you can connect with our APAC team and discuss everything Risk.
Presentation - How right is that feeling in your bones?
With enough experience under your belt, you can start to get a good gut instinct for pricing projects.
For instance, I’ve done enough home improvement projects now that I can usually guess with reasonable accuracy, the final ball-park figure that I’m going to need to spend. Luckily, I’m not overly accountable for being a bit off the figure, apart from to my other half!
An experienced cost estimator is worth their weight in gold and will also have a good instinct for the cost of a piece of work and the key factors that will drive it up or down. However, their estimates will be under far more scrutiny than a home improvement project, and their organization will be ultimately accountable for any deviation from the original cost estimate.
In this presentation, we show how we worked with one of our clients to successfully bid a National Highways project to enhance a trunk road junction.
Using an anonymised case study, we will demonstrate how Monte Carlo Analysis was used to harness and enhance the expertise within the organization. We’ll explain how this enabled effective risk and uncertainty conversations to take place, to take control of costs and establish a winning price, effectively combining accountability for it and the ability to sleep at night!