Monte Carlo Project Cost Estimation

Nov 21
Much more than a technical simulation!

Presented by Dr Richard Barber - Director, RiskIQ Global (Australia)

Richard will briefly examine the ideas underpinning cost estimation and the use of Monte Carlo, to identify the critical factors determining whether cost estimates are robust.  Using practical examples, he will identify and discuss practical options for project leaders to ensure that cost estimation work is effective.  For small and medium projects Richard will outline a rapid, effective process for cost estimation using Monte Carlo simulation as part of that process.


Dr Richard Barber Richard Barber is a systems-thinking management consultant, working with senior leaders on their most complex and intractable problems.  His roles in very large programs have included as project engineer, international liaison, quality assurance, Project Director and Program Director. Richard has an MBA and PhD in Project Management, specialising in the management of risk in complex projects and programs.  He has consulted widely to both Government and private sector organisations, working with them to better understand the real underlying drivers of risk and performance. Richard is also the MD of RiskIQ Global – a small company at the leading edge of project and organisational leadership practices. He is a Graduate of the Royal Military College of Science (UK), lectures at Queensland University of Technology, delivers vocational training with the International Centre for Complex Project Management and is involved in ongoing research into the governance of large, multi-party projects.

Dr Richard Barber

Event Partners

Bright Consulting
BAE Systems