Aloha Members and Guests,
Please grab a virtual seat and join us on Thursday, July 23rd at 11am HST for a webinar presentation by Matthew Schoenhardt on Parametric Contingency Estimating on Small Projects.
Presentation: While mega-projects capture the attention of executives, shareholders, media and researchers, the sheer quantity of many companies’ “small projects” can eclipse the capital spend of a single mega-project. For most companies, these small projects are the foundation of sustained and incremental profitability. The size of “small projects” often precludes detailed contingency assessments by project managers while their puny stature renders them unattractive to academic research. As a result many firms solve this problem by simply applying 10% contingency across the board to small projects, regardless of the project’s actual risk profile.
Location: Join Zoom Meeting
Recommended practice 43R-08, Risk Analysis and Contingency Determination using Parametric Estimating applies historical empirical data to estimate contingency. This Parametric contingency method has clear advantages over other AACE recommended practices for mega-projects including speed, accuracy and cost effectiveness.
Matthew has over 20 years of project experience covering a broad range of industries including manufacturing, heavy industry, food processing, infrastructure with a particular focus on the oil and gas industry. A big picture thinker with an intrinsic desire for logical, efficient processes, Matthew approaches projects from a business perspective with a clear understanding of the profit motive. With the mantra “predictability is better than perfection” Matthew has streamlined processes and developed coherent stage-gate processes. His natural affinity for numbers has allowed the creation of world-class models. In these, Matthew’s curiosity naturally led to a desire for better uncertainty, risk and contingency assessments. After completing over $100B of assessments on hundreds of projects, Matthew is familiar with all methods of risk management. As an expert in the field, Matthew is one of North America’s foremost practitioners of the parametric/systemic approach and published several papers on capital project risk management. Despite his logical quantitative bent, Matthew is both effusive and engaging in demeanour and was ranked as the #1 overall speaker at AACE 2016.