Every project is associated with uncertain factors that can have a major impact on costs and lead time. It is important to identify these uncertainties at the earliest possible stage, and to decide which risks are acceptable and which are absolutely not. Projects are increasingly being put out to tender based on integrated contracts, while also becoming ever more complex and encompassing a wider range of (technical) disciplines. Consequently, risk management is not just confined to the technical design. It also includes stakeholder-related, political, social and financial aspects. This requires a broad-based approach.
Iv-Groep helps clients to identify, classify and manage project-related risks in terms of time, money and quality, and to do so in a structured manner. Iv-Groep’s strength is based on its broad expertise and experience in a wide range of technical disciplines, in all project phases, and with various types of (integrated) contracts. Thanks to our extensive track record in designing and supervising (complex) projects, Iv-Groep is able to adopt an integrated approach to risk management. Iv-Groep analyses risks from a broad perspective, based on deep specialist expertise.
Probabilistic estimation and planning
Iv-Groep’s services include producing probabilistic estimates and plans and analysing these using Monte Carlo simulations. In all project phases, cost and time monitoring and cost control are important in order to prevent cost overruns. This can be particularly difficult in the initial phase of a project, due to the large number of uncertain factors. Especially in this phase, it is essential to identify the nature and scope of these uncertainties so that appropriate measures can be taken in a timely manner.
Iv-Groep prepares probabilistic estimates and plans that provide clients with detailed insight into uncertainties and help them to prevent cost overruns by making timely adjustments. Probabilistic estimates provide the required insight into the expected costs, including distribution and the main uncertainties. By drawing up probabilistic plans, Iv-Groep can help clients to manage their planning in an effective and proactive way. Probabilistic plans provide insight into the expected dates of key project milestones, including distribution and the contributions made by the most important uncertain factors. Iv-Groep prepares the planning in consultation with the client, and quantifies the main uncertainties and risks. If required, Iv-Groep can also define measures to control the risks and uncertainties in the planning.
