Cost Estimating
Cost Analysis
Price Based Acquisition
Cost Risk Analysis
CAIV & Cost Trade Studies
Total Cost of Ownership Analysis
Financial Management & Analysis
Records Research & Analysis
Cost Training
Cost Risk Analysis Services
Cost risk analysis tempers a cost estimate with probabilistic boundaries. All major cost estimates should be accompanied by a risk analysis. Risk analysis is the most effective way to qualify a cost estimate. Although effective tools such as @Risk and Crystal Ball work very well for the number crunching, only a talented risk analyst can “draw out” of the technical personnel the important information needed to perform an accurate risk study. The UMI Team has extensive risk analysis experience on Crusader and other programs.
The Risk Analysis Process Consists of Six Steps
- Interview the “experts”
- Perform the technical and schedule risk evaluation
- Develop cost ranges
- Evaluate cost impacts using Monte-Carlo Simulation
- Review results with management
- Write risk mitigation plan