Risk Analysis of Strategies at the Monaco Grand Prix

This weekend, Formula 1 drivers will once again compete at the famous Monaco Grand Prix.

As Formula 1 fans and Project Risk Analysis professionals, we thought it would be interesting to combine them both to create an accessible example of  how we can use scheduling tools to model real life projects.

In the below article, we have created models similar to the schedule risk analysis (SRA) models we create for Redstone Risk clients. We have undertaken a scenario analysis of two different race strategies to highlight how gathering insights on different scenarios can provide comparable data on alternative project schedules.

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William Foulds

Will is the Owner and Managing Director of Redstone Risk Ltd and is a trusted advisor to senior leaderships teams within the defence, nuclear and construction sectors. Will has over 20 years' experience as a risk management professional, is a Fellow of the Institute of Risk Management and holds an MSc with distinction in Risk Management.