Managing construction time and cost risks using Monte Carlo simulation

  • F-P. Nagel, M. Wagner and M. Beisler, ILF Consulting Engineers (Asia), Thailand
  • Vol. 28 - Issue 4, 2021

Investors in hydropower assets face a high degree of risk in their decision making process. Consequently, investors seek to understand fully the economic risks before deciding to develop a project. In this paper, a risk analysis is described, using the Monte Carlo simulation method, specifically to address the risk of time and cost overruns at a project involving complex underground works.

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Managing construction time and cost risks using Monte Carlo simulation
  • Vol. 28 - Issue 4, 2021

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