Cost Risk

Cost Risk is an advanced analytical software tool for analyzing the financial risk on facility construction and environmental restoration projects. When developing an estimate of the cost for carrying out a project, there are likely to be a number of aspects of the project that have not been fully defined. For example, various options as to the scope or approach for a project may exist during the early stages of investigation or design. In addition, quantities of work and unit prices may also be uncertain. All of these factors impact the cost of the project.

Cost Risk is designed to help analyze the sources of variability in a cost estimates and to the overall potential effect of these uncertainties on the cost of a project. It is a useful tool in determining an appropriate amount of contingency.

How is Cost Risk Used?

Earth Tech developed Cost Risk for the US Army Corps of Engineers (USACE) and the Department of Energy (DOE) for quantitative analysis of financial risk on environmental, military and civil works construction projects. USACE and DOE oversee the distribution and support of Cost Risk and is available to their employees. Please contact USACE for more information

Earth Tech continues to implement enhancements as specified by the USACE. The enhancements are designed, programmed, tested and delivered according to Earth Tech's standard software development practices. Earth Tech ensures that the enhancements to the Cost Risk software address the user's requirements. In the end, the user receives a software system that meets their needs for analyzing financial risk on environmental, military and civil works projects.