Project Historical Databases

A project historical database is a fundamental corporate asset for any organization that manages capital projects on a recurring basis. Capturing actual outcomes from past projects — cost growth, schedule slip, systemic risk ratings, and risk event impacts — enables:

• Lists of past critical risk events and their impacts (to support risk identification)
• Trend reports of cost growth and schedule slip experience (performance measures)
• Trend reports of systemic risk ratings (i.e., for process improvement)

The ValidDatabase product is design to support these historical risk management and quantification needs. It captures past analysis, and supports the entry of actual risk, cost growth and schedule slip metrics. This can supplement or be integrated with a more comprehensive project historical database system if the client has one. A comprehensive company system is particularly desirable for estimate validation (i.e., measuring bias).