Transportation Risk and Uncertainty Evaluation is a peer review of project scope, cost, schedule, and risk using an established process, developed by our experienced senior engineers, to validate true cost and schedule of any transportation project. Working directly with your staff, in a flexible workshop environment, we collectively validate cost, schedule and risk to produce a probabilistic range of escalated cost and schedule.

A project’s true cost is composed of three components:

1. known costs that can be quantified,
2. known costs that can not be quantified (engineer’s allowance),
3. unknown costs (contingency).

The Transportation Risk and Uncertainty Evaluation confirms the known costs and, using a verifiable approach, scientifically analyzes unknown costs using probabilistic analysis of project specific risk and uncertainty. By similarly analyzing the schedule and considering likely escalation rates, the uncertainties in schedule and in escalated costs are also determined. Other project elements - such as cash flow, safety and reliability - can be analyzed in a similar way.