Identifies the process, benefits, and implications of using probabilistic analysis of cost and schedule risks in the design and construction of capital projects. Presents the results of a thorough literature review and a state-of-practice survey. Also discusses the "how" and "why" of probabilistic methods through multiple case studies, and a validation survey to confirm all findings. Finally, introduces the team's implementation resources, a risk register tool and a laminated risk register reference card.

Senesi, C., Javernick-Will, A., and Molenaar, K., Furlani, K. and Relyea, C. (2013). "Probabilistic Risk Management in Design and Construction Projects." Research Summary, RS280-1, Construction Industry Institute. Austin, TX.