Case Study: Larsen & Toubro Institute of Project Management achieves accurate, confidence-based project delivery schedules with Palisade @RISK

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

Larsen & Toubro Institute of Project Management, part of Larsen & Toubro, faced the challenge of helping engineering outsourcing teams more accurately define project scope and schedules amid growing technology and people-related uncertainties. To build a practical, repeatable approach for short-duration outsourced design projects, the Institute selected Palisade’s @RISK Monte Carlo simulation tool for its ease of use and Excel compatibility.

Using Palisade’s @RISK, the team modeled a typical 800-hour outsourced design project with 15 key activities, three‑point estimates and 15,000 simulation iterations to quantify schedule risk. The analysis showed concrete outcomes (90% confidence = 887 hours; 95% = 902 hours with 107 contingency hours; 99% = 925 hours with 130 contingency hours) and indicated that mature teams could reduce variance to under ~2% cost impact—leading the Institute to conclude that Palisade’s @RISK–based Monte Carlo approach yields more robust, measurable schedules and better risk-informed planning than traditional methods.

Larsen & Toubro

Chakradhar Iyyunni

Deputy General Manager and Faculty