Case Study: L&T Institute of Project Management develops project risk scheduling methodology with Lumivero’s @RISK

Larsen & Toubro Institute of Project Management Uses @RISK to Develop Project Delivery Schedule Identification Methodology for Engineering Outsourcing Assignments

The L&T Institute of Project Management, part of a major Indian technology and engineering company, sought to help engineering outsourcing service providers mitigate risks that impact project scope and delivery schedules. These uncertainties, stemming from technological, cultural, and process-related factors, posed a significant threat to the industry's growth and reputation. The institute partnered with Lumivero and utilized its @RISK software to develop a new methodology for this challenge.

Using @RISK for Monte Carlo simulation, the Lumivero solution enabled the institute to create a quantitative model based on a three-point estimation for key project activities. This analysis determined that at a 90% confidence level, a project could be completed in 887 man-hours, providing a data-driven basis for scheduling and client billing. The study concluded that this approach was a more reliable and less burdensome method for creating robust project delivery schedules than traditional risk analysis, paving the way for the development of future risk mitigation strategies.

L&T Institute of Project Management

Chakradhar Iyyunni

Deputy General Manager and Faculty