4. Determine type of risk Met. The risk register uses distributions and reason triangular probability for their use. to increase credibility. 5. Ensure that risks are Met. Reviewed for not correlated. by the Risk Manager and RMB. 6. Use an acceptable Met. Developing Monte Carlo analysis method simulation to determine (e.g., Monte Carlo contingency at a 90% to develop a CL. interval around the point estimate. Met. 90%. 7. Identify the confidence level of the point 8. Identify the amount of Met. Results of the Monte contingency funding and Carlo analysis at a 90% CL add this to the point are used to add cost impacts to determine the of risks and costs as a result risk-adjusted cost of schedule impacts army). Contingency for cost estimating uncertainty is added for each major cost according to FRA contingency rules. 9. Recommend that the Met. The project has a risk project or program office management plan that a lab-wide procedure. develop a risk plan to track and mitigate risks. 1. Document all steps Met. The cost estimate was used to develop the developed using a defined WBS and thoroughly so that a cost unfamiliar with the BOEs and program can recreate it quickly and produce the same result. 2. Document the purpose Met. The estimate purpose of the estimate, the team (for CD-1 Cost Range) and Document the that prepared it, and who estimating team are 10 estimate approved the estimate and on what date. 3. Describe the program, Met. Addressed in the its schedule, and the CDR. technical baseline used to create the estimate 4. Present the program's Met. The life cycle cost was time-phased LCC. documented in the Strategy.
4. Determine type of risk distributions and reason for their use. Met. The risk register uses triangular probability to increase credibility. 5. Ensure that risks are not correlated. Met. Reviewed for by the Risk Manager and RMB. 6. Use an acceptable analysis method (e.g., Monte Carlo to develop a interval around the point estimate. Met. Developing Monte Carlo simulation to determine contingency at a 90% CL. 7. Identify the confidence level of the point Met. 90%. 8. Identify the amount of contingency funding and add this to the point to determine the risk-adjusted cost Met. Results of the Monte Carlo analysis at a 90% CL are used to add cost impacts of risks and costs as a result of schedule impacts army). Contingency for cost estimating uncertainty is added for each major cost according to FRA contingency rules. 9. Recommend that the project or program office develop a risk plan to track and mitigate risks. Met. The project has a risk management plan that a lab-wide procedure. 10 Document the estimate 1. Document all steps used to develop the so that a cost unfamiliar with the program can recreate it quickly and produce the same result. Met. The cost estimate was developed using a defined WBS and thoroughly BOEs and 2. Document the purpose of the estimate, the team that prepared it, and who approved the estimate and on what date. Met. The estimate purpose (for CD-1 Cost Range) and estimating team are 3. Describe the program, its schedule, and the technical baseline used to create the estimate Met. Addressed in the CDR. 4. Present the program's time-phased LCC. Met. The life cycle cost was documented in the Strategy.
PIP-II%20ICR%20Cost_Sch_AoA_Checklist-01%20Dec%202017.docx