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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Cai Adams

As an Analyst, Cai applies his knowledge in statistics, probability theory and Quantitative Risk Analysis (QRA) to help our clients solve their current and future risk-related challenges.