Like the inner workings of an intricate timepiece, major projects are made up of a number of parts—often moving in different directions—that must all work in concert to keep accurate time. The functioning interconnectivity of the smaller projects is greatly impacted by an organization’s ability to accurately forecast the risk, both major and detailed. For management consulting firm Value Management Strategies (VMS), Monte Carlo simulation has proven to be an effective method of risk management for many multi-level projects.
Value Management Strategies, Inc., based in Escondido, Ca. is a management consulting firm specializing in value analysis, value engineering and risk management for organizations in both the public and private sectors. VMS clients include state and federal government agencies, private engineering and architectural firms and local and international manufacturing firms.
Many of VMS’ clients are looking to deliver projects, implement processes or produce innovative products in specific verticals. To successfully complete these projects, they turn to VMS to analyze the seemingly never-ending maze of uncertainty and risk that exists in various projects and to develop risk response strategies and action plans that maximize opportunities and minimize threats. In this capacity, the VMS’ utilization of Monte Carlo simulation through @RISK helps to support the decision-making process, as well as offer a more granular understanding of the nature of uncertainties being characterized. Clarity of the likelihood and exposures of risks can help to minimize delays and maximize efficient deployment of capital resources.
We’re excited that @RISK is able to help VMS to keep its clients “moving parts” moving in the right direction. Time is money…tick-tock, tick-tock.