Project Management Institute

Risk-based scheduling and analysis

This article describes a system for identifying risk at the individual task level, adjusting the project schedule to accommodate it, and finding the actual critical path based on the risk-adjusted schedule. This Risk-Based Scheduling and Analysis (RBSC) system is an improvement upon the Program Evaluation and Review Technique (PERT) in being less cumbersome and complex, having lower overhead through the elimination of the need to calculate the worst- and best-case scenarios, and using popularly available tools. The RBSC system breaks down risk activity by task and duration and rates each activity on a scale of High to Low risk. Reports are generated that enable the schedule to be adjusted to accommodate the amount of risk associated with different phases of the project.
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