Integral Risk Management for DBFM Tenders and Contracts in the Netherlands

This paper presents an overview of an integral risk management approach with emphasis on the relationships with the costing and scheduling processes. Forms of uncertainty related to project planning are classified and implemented in the probabilistic costing and scheduling processes. Furthermore, the importance of the integral probabilistic analysis is explained for (large-scale) Design, Build, Finance and Maintain (DBFM) contracts. Finally, the paper concludes with recent developments on how to improve the integrated probabilistic approach.