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This paper discusses the importance of establishing a sound schedule basis and ensuring valid risk inputs so as to generate an accurate and realistic schedule risk model. A technique for ensuring both of these criteria is discussed using specific metrics targeted at risk model validation. Once a risk analysis is completed, interpreting the results can often be a challenge. This is especially true within large projects, and so a complimentary approach to interpreting risk results, pinpointing true risk exposure, understanding when in time the project is at greatest risk and providing this in a language that is easy to relay to the project team and stakeholders is also discussed.
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