M0070 QRA Service

Award

Buyers

Value

£752,132

Suppliers

Classifications

  • Project management consultancy services

Tags

  • award

Submission Deadline

1 year ago

Published

7 months ago

Description

Effective risk and issue management is crucial to enable Major Projects Directorate (MPD) to make more informed decisions, to set realistic budgets and baselines for risk and uncertainty, to proactively manage risks and ultimately to improve the level of confidence in project and programme's delivery.

The Client is looking to set up a contract for provision of a Quantitative Risk Analysis (QRA) Service across MPD.

QRA is a process for estimating or calculating the potential risk impact of an event or series of events based on statistical sampling and modelling techniques. It identifies a probabilistic range of outcomes as opposed to a deterministic (single point) estimate for the overall risk impact on a project. QRA encompasses analysis of cost impacts ('quantitative cost risk analysis' or QCRA) and schedule impacts ('quantitative schedule risk analysis', or QSRA).

Documents

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  • Contract Agreement

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  • Award Notice

    Details on the tender award and selected suppliers.

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Organisation

National Highways

Body governed by public law

Timeline complete

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