Using Integrated Cost and Schedule Risk Analysis to Enhance Project Success - a NASA Case Study

The use of quantitative risk analysis of cost and schedule is an imperative for complex aerospace projects.

NASA policy is to analyze cost and schedule risks jointly. This talk presents a high-level statistical approach to the estimate of joint cost and schedule risk, including the use of machine learning techniques. This approach provides advantages over a detailed, bottom-up method that is often used.

The application of this approach to a NASA mission that resulted in median cost and schedule estimates within 1% of the actuals is presented.