Working with project teams to solve the problem of uncertainty inherent in capital intensive projects

identify quantify control

Uncertainty as a starting point

Isolating the key issues that give cause to question the underlying basis and has the potential to impact, either in a positive or negative sense, the intended outcome.

"Data from more than 300 global megaprojects shows that 65% of industrial projects with budgets larger than $1 billion in 2010 US dollars failed to meet business objectives." (Merrow, 2011)

Manage Uncertainty

Clearly identifying, evaluating and clarifying sources of uncertainty support buy-in and ownership.

"Uncertainty involves variables that are unknown and changing, but will become known and resolved through the passage of time, events and actions.

"Risk is something one bears and is the outcome of uncertainty." (Mun, 2010)

Focus on the major aspects in each development phase to highlight key issues


Driving uncertainty to control

Traditional analysis is typically focused on known factors and unknowable factors can be hedged by insurance or other actions.

Focusing on unknown factors provides the most significant potential for value improvement, particularly in early stages of development.

Resolving gaps in knowledge requires insight into the underlying uncertainty.

At any given time a project depends on a mixture of what is known (at least partially), assumptions and what is largely unknown.

Engage Roctate through your entire project lifecycle for improved certainty

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