RISK & CONTINGENCY PRACTICE LAB
Price the uncertainty
Separate the base estimate from probability-weighted cost impacts.
On site
Locate the uncertain scope
Illustrative scene. Use the lesson figures and records for measurements.
THE SCENARIO · GBP
The base estimate is 100,000. Risk A has a 25% probability of an additional 20,000 cost. Risk B has a 10% probability of an additional 50,000 cost. Impacts do not overlap and neither is already included in the base.
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Enter your results to two decimal places. Use full precision between calculation steps.
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