Managing Risk With Tools

1 VINIT THAKUR

Project Risk Management

PMBOK KNOWLEDGE AREA 11

AEROELASTIC ANALYSIS OF BRIDGE

A CFD Study
4

Risks?
5

Objectives
6

Identify Risks

Qualitative Risk Analysis

Quantitative Risk Analysis Plan Risk Responses

Monitor and Control Risks

Key Concepts
Risk An uncertain event or condition that, if it

occurs, has a positive or negative effect on the projects objectives. [and we are usually concerned with the negative effects] Contrast with an issue a point or matter in question, in dispute, not settled and under discussion, or over which there are opposing views or disagreements Consequences of negative risk are typically

Higher project cost Longer project implementation time Reduction of project scope Degradation of project quality

ROOTS OF UNCERTAINTY
8

Stakeholders Objectives Variety of Resources, (human, capital, material..) Project Organizations Scope of work Cost Time Delivery of Quantified and Qualitative objectives Technologies Environment Regulators

8/8/2013

Project Risk Evolution

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Project Risk Evolution

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Example of Cloud Computing

Network dependency Difficulty in developing hybrid systems Centralization Data integrity

Risk Evolution- Final word

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Risk

Snap shot of Best Practice

12 BEFORE WE RESUME OUR DISCUSSION, IT WOULD BE VERY INTERESTING TO SEE THE BEST PRACTICE OF RISK MANAGEMENT FOLLOWED BY NASA

NASAs Risk Management System

Risk Management Paradigm

Project Control

Schedule Cost/Budget People

Environment

Risk Management

Technical

Safety

Safety & Mission Assurance

Configuration Management

System Engineering

14

Sources of Risk

Equipment Failure

External Events

Human Errors

Institutional Failure

RM Tools & Techniques

QUANTITATIVE

Stochastic and Deterministic Modeling

Probabilistic Risk Assessments (PRA) Other Statistical based Modeling and Analysis techniques

Cause & Effects Analysis

Failure Modes & Effects Analysis (FMEA) & Failure Modes, Effects & Criticality Analysis (FMECA) Fault Tree Analysis (FTA)

Systems Engineering Analysis and Risk Assessments Root Cause Analysis

QUALITITATIVE

Hazard Analysis
Brainstorming Process Mapping and Analysis (Human Factors) Taxonomy-Based Questionnaires

Pareto Method
Affinity Grouping

Risk Coordination and Integration

Program Manager

Project Managers

Element Managers

System Managers

Team Members

Contractors/suppliers/ vendors

Coordination and Integration

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18

Summary
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Eliminate Risks List Critical Risks Reduce Probability / Impact of the Risks Add Additional Risks to the Watch-List Update Project Plan

Plan for Risks

Identify Risks

Keep Non-Critical Risks in the Watch-List

Accept Risks

Identify Residual Risks

Develop Contingency Plans

Session 2
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Risk Identification
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Risk management plan Activity cost estimates Activity duration estimates Scope baseline/ Stakeholder register Cost management plan Schedule management plan Quality Management plan/ Project documents Enterprise environmental factors Organizational process assets

Outputs

Inputs

Risk register

Documentation reviews Information gathering techniques Checklist analysis Assumptions analysis

Diagramming techniques SWOT Analysis / Expert judgment

Tools & Techniques

Risk Factor Identification

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Brainstorming meetings
Expert opinion Past history Multiple (team based) assessments

A Brief Case Study

23 BEZEQAMS BILLING SYSTEM

Sample Risk Checklist A Great Tool

Method 1
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For a typical large global project:

1. 2. 3. 4. 5. 6. 7. 8. 9.

Scope issues Technology issues Execution issues Schedule issues Site issues Labor issues Safety issues Owner issues Quality issues

10. 11. 12. 13.

14.
15. 16. 17. 18.

Estimate/Quantity issues Performance issues Subcontractor issues Country/Community issues Currency issues Traffic/Logistic issues Partner (JV) issues Commercial/Legal issues Weather issues

Risk Breakdown Structure

Method 2

Taxonomy Based Questions

Method 3
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Case: DeHavillands Falling Comet

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PMBOK Risk Planning

The risk register details all identified risks, e.g.,

description, category, cause, likelihood, impacts on objectives, planned responses Risk categories describe broad risk causes, e.g., technical, external, organizational, management Risk breakdown structure provides a hierarchically organized depiction of risk and categories

Recap.So FarRisk Planning

Identify Risks Determine which risks may affect

the project and documenting their characteristics Qualitative risk analysis Prioritize risks for further analysis by assessing likelihood of occurrence and strength of impact Quantitative risk analysis Numerically analyze effects of risks on overall project objectives Plan risk responses Develop options and actions to reduce threats Monitor and control risks Respond, track, monitor, re-identify & re-evaluate

Risk Register
Risk register view

Separate opened and closed risk and issues

Separate threats or opportunities

Pre mitigation Probability, Impact, and Score

Post mitigation Probability, Impact, and Score

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Risk Matrix

Risk Probability, Impact and Score for the current schedule

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Dealing with Negative risk

Acceptance Do not adjust the plan, perhaps

because there is no suitable strategy Avoidance Change the plan to eliminate the risk or its impact on objectives Mitigation Change the plan to reduce the likelihood or impact of risks to acceptable levels Transference Shift the impact of a risk to a third party

Application with tool

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Managing Risk Register

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Open 02_RR_RM.alm

What we are doing?

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Examining the risk analysis of sample with standard

template. Using RiskyProject observe the Risk Register, Risk Details and Risk Matrix Application of same logic to our project

Workshop Exercise
37 TAKE YOUR NORMAL PROJECT AND DEVELOP A RISK REGISTER. IDENTIFY PROBABILITY OF OCCURRENCE FOR EACH RISK AND ITS IMPACT DEVELOP A RISK MATRIX YOU MAY HAVE TO USE SOME OR FEW OF THE TECHNIQUES: DELPHI, FORCE FIELD ANALYSIS, NOMINAL GROUP TECHNIQUE

Separate Section of Methods

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The Delphi Method

The Delphi Method is a

group decision process about the likelihood that certain events will occur. Today it is also used for environmental, marketing and sales forecasting. The Delphi Method uses a panel of experts. Expert responses to a series of questionnaires are anonymous. Each round of questionnaires results in a median answer. The process guides the group towards a consensus.

Delphi in Context
The Delphi technique was

invented by Olaf Helmer and Norman Dalkey of the Rand Corporation in 1953 for the purpose of addressing a specific military problem. The object of the Delphi method is to obtain a reliable response to a problem from a group of experts. In a Delphi study, the participants do not interact with one another, Delphi technique is used today in business, education, and the social sciences

DELPHI METHOD DETAIL

The Delphi method is an

exercise in group communication among a panel of geographically dispersed experts (Adler and Ziglio, 1996). It allows experts to deal systematically with a complex problem or task. A series of questionnaires are sent either by mail or email to a pre-selected group of experts. According to Fowles (1978) anonymity, controlled feedback, and statistical response characterize Delphi. Interaction in Delphi is anonymous, comments, forecasts, etc are presented to the group in such a way as to suppress any identification.

DELPHI METHOD PROCESS

Fowles (1978) describes ten

steps for the Delphi method: 1.Formation of a Delphi team to undertake a Delphi on a subject. 2.Selection of expert panel(s). 3.Development of the first round questionnaire 4.Testing the questionnaire for proper wording. 5.Transmission to the panelists. 6. Analysis of 1st responses 7. Preparation of 2nd round. 8. Transmission of 2nd round questionnaires to the panelists 9.Analysis of the 2nd round responses (7 to 9 may be repeated to get consensus) 10. Preparation and presentation of report

Modified Delphi- The Nominal Group Technique

The Nominal Group

Technique is a face to face Delphi based method, allowing group discussion. It adds a personal dimension to the methodology. The use of consensus is common to both techniques

Nominal Group Procedure

Groups of 5 or 6 experts, are seated around a table. They are given an open ended question. Several minutes of silence enable individuals to reflect on the question and make notes Ideas are shared (one response per person each time), while all are recorded, on a flipchart. No criticism is allowed, but clarification in response to questions is encouraged. Each person evaluates the ideas and individually and anonymously votes for the best ones Votes are shared and tabulated within the group. A group report is prepared, showing the ideas receiving the most points. The group is briefed on their responses and proposals.

Decision Tree
45 QUANTITATIVE TOOLS

Decision Trees
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A graphical representation of the EMV analysis The decision tree allows the project manager to

factor in both probability and impact for each branch of every decision under construction

Solving the Decision Tree will indicate the project

manager what decisions will provide the greatest expected value

Decision Tree Analysis

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Full Testing -$ 10000

Decision: Systems Testing
EMV = -$ 10100

Pass 95% $0

-$ 10000

Fail 5% -$ 2000 Pass 30% $0 Fail 70% -$ 8000

-$ 12000

Limited Testing

-$ 8000

-$ 8000
EMV = -$ 13600

-$ 16000

48

Chance Node

Decision Node

The Problem
49

We are the prime contractor and there is a penalty in our contract with the main client for every day we deliver late ($1000). We need to decide which sub-contractor to use for a critical activity. One sub-contractor is lower-cost ($110,000 bid). We estimate however that there is a 50% chance that this contractor will be 90 days late and our contract with the main client specifies that we must pay a delay penalty of $1,000 per calendar day for every day we deliver late. The higher-cost sub-contractor bids $140,000. We know this contractor and assess that it poses a low 10% chance of being late, and only 30 days late at that.

Payoff Table EMV Analysis

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Schedule risk

Probability

Payoff Probability x (Thousands) Payoff (Thousands) $ 200 $150 $100 $$ (50) $10 $ 30 $50 $$ (2.5)

Project completed 20 days early

5%

Project completed 10 20% days early Project completed on schedule 50%

Project completed 10 20% days late Project completed 20 days late 5%

Expected value of return = $ 87,500

General Process
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Decision Nodes

Chance Nodes

Probability

Pay-offs

The Concept of Expected Value

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Rolling a die

A friend proposes a wager: You will pay Rs. 9.00,

and then a fair die will be rolled. If the die comes up a 3, 4, 5, or 6, then your friend will pay you Rs. 15.00. If the die comes up 1 or 2, he will pay you nothing. Furthermore, your friend agrees to repeat this game as many times as you wish to play. Should you agree to play this game?

Hands-on Try
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Ex. 1 Product decision (Page 46)

To absorb some short-term excess production capacity at its manufacturing

plant, Special Instrument Products is considering a short manufacturing run for either of two new products, a temperature sensor or a pressure sensor. The market for each product is known if the products can be successfully developed. However, there is some chance that it will not be possible to successfully develop them. The probability of development success is 0.5 for the temperature sensor and 0.8 for the pressure sensor.

Revenue of $1,000,000 would be realized from selling the temperature

sensor and revenue of $400,000 would be realized from selling the pressure sensor. Both of these amounts are net of production cost but do not include development cost. If development is unsuccessful for a product, then there will be no sales, and the development cost will be totally lost. Development cost would be $100,000 for the temperature sensor and $10,000 for the pressure sensor. What would be a good decision using expected value concept?

To Get Fundas Right

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Example 2-Choosing the Right Tool

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Hands-on 2
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Hands-on 2 Solution
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Additional Case-Final
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Additional Case-Solution
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Monte Carlo
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Snakes and Ladders

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You have to bid for this

project. Liquidated damages are $25,000 per month.

Bid Months(Moves)
Less than 10 10-20 20-30 30-40 40-50 More than 50

Contract Value
$1,000,000 $750,000 $500,000 $250,000 $100,000 Rejected

Monte-Carlo
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A technique used to analyze the effect of uncertainty in individual activities and cost items on the completion date of the project or total cost of the project

Advantages of MCA
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Determine the amount of time and cost contingency

Determine the most realistic completion date and Project

cost
It takes into consideration the path convergence

Project Manager can describe a range of possible values

for each uncertain event

Help the Project Manager manage the expectations of

the project stakeholders by reflecting uncertainty of the project cost and schedule

More Advantages of MCA

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Takes into account that uncertain parameters can be

expected to vary simultaneously (i.e. it corrects the weakness in sensitivity analysis) Express results on probability distribution rather than a single number, giving the decision-makers more information upon which to base their decision Judgment is applied early in the process, to individual variables in forming their probability distribution Monte-Carlo itself combines these judgment factors, giving the correct weighting to each

Disadvantages of MCA
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Evaluate overall project risk Addresses only cost and schedule Monte-Carlo simulation evaluates the project not

individual activities Uses subjective probabilities and treat them as true mathematical probabilities while they are only estimates of what the actual should be Final answers still depend on the subjective judgment of the decision maker

Five Steps for Conducting MCA

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Define the capital resources (time & cost) required for the project by

developing the deterministic model of the estimate

Answer the five questions for each item Identify the uncertainty in the estimate by specifying the possible

values of the variables in the estimate with probability ranges (Probability Distribution)
Analyze the estimate with simulation running the model repeatedly

to determine the range and probabilities of all possible outcomes of the model
Make a decision based upon the results of the Monte-Carlo

simulation

MCA- Hands on
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Understanding Iterations in Monte Carlo

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Calculating

Basics of Distribution
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Project planning tools assign effort estimates to

subtasks. Total project effort is the sum of the individual efforts. It's more realistic to treat the subtasks as having random efforts, the total effort is the sum of those random variables. MonteCarlo can not only answer the expected total effort, but also its distribution, and thus answer questions like "what are the 10% of outcomes that are worst?" A very similar issue arises when computing financial measure like the value-at-risk (VAR).

Project Cost Risk Analysis

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A simple problem to

understand the process

ID 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Task Name Duration Cost Start Finish Predecessors Resource Names Dec 26, '05 Jan 2, '06 S M T W T F 1/1 Airf rame,Propulsion,Electrical Airf rame,Propulsion Airf rame,Propulsion Electrical Electrical Electrical,Airf rame Propulsion Propulsion Electrical Airf rame,Electrical Airf rame,Propulsion,Electrical

Aircraft A
Start Aircraft - A Preparation Mod 326 R Mod 326 Mod 335 Mod 344 Mod 343 Mod 332 R Mod 332 Mod 334 MOD 337 Inspection Finish Aircraf t - A

25 days
0 day s 2 day s 6 day s 7 day s 6 day s 5 day s 4 day s 9 day s 4 day s 7 day s 9 day s 3 day s 0 day s

35,180.00
0.00 2,160.00 4,560.00 5,320.00 2,020.00 1,600.00 2,880.00 3,240.00 1,440.00 2,240.00 6,480.00 3,240.00 0.00

Sun 1/1/06
Sun 1/1/06 Mon 1/2/06 Wed 1/4/06 Thu 1/12/06 Thu 1/12/06 Mon 1/23/06 Wed 1/4/06 Tue 1/10/06 Mon 1/23/06 Tue 1/10/06 Thu 1/19/06 Wed 2/1/06 Fri 2/3/06

Fri 2/3/06
Sun 1/1/06 Tue 1/3/06 1 Wed 1/11/06 2 Fri 1/20/06 3 Thu 1/19/06 3 Fri 1/27/06 4,5 Mon 1/9/06 2 Fri 1/20/06 7 Thu 1/26/06 8 Wed 1/18/06 7 Tue 1/31/06 10 Fri 2/3/06 6,9,11 Fri 2/3/06 12

Airframe,P

Project Risk Analysis (Worked out case)

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What is the most likely cost? The traditional method

assumes that this is the baseline cost computed by summing the estimates of cost for the project elements, but this is not so. How likely is the baseline estimate to be overrun? Traditional methods do not address this problem. What is the cost risk exposure? This is also the answer to the question; How much contingency do we need on this project? Where is the risk in this project? This is the same as: Which cost elements cause the most need for the contingency? Risk analysis principles can be used to answer this question.

Cost Estimation (For Demo)

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What is the probability that the project will actually

be delivered within this budget? How much contingency (i.e. extra budget) should be included in order for this new revised budget level to be achieved with a certain degree of confidence?

Hands-on-1 MCS
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Project Cash Flow Analysis

Work sheet 1 gives the basic data Worksheet 2 gives the estimated values of inflow Use triangular distribution function for inflows Use Normal distribution with mean of 2 and SD of 0.33 Use 1000 iterations
To Do: Generate the statistical report for total resultant NPV and interpret the meaning. What is the probability that the project may end up with losses (Negative NPV)?

Additional Case
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1. Consider the project network given below. C A 1 B 3 F 5 2 4 E D

Server Farm Inc. (SFI) needs to upgrade its server computers. Company management has identified the following two options: (1) shift to a Windows-based platform from its current Unix-based platform, or (2) stick with a Unix-based platform. It is standard practice at SFI to use a triangular distribution to model uncertain costs.
C 5 14 17 D 2 5 8 E 6 9 12 F 8 17 20

Activity Optimistic time (a) Most likely time (m) Pessimistic time (b)

A 2 5 14

B 9 12 15

(a)What is the expected cost of each project? (b) What is the probability that each project's cost will exceed $575,000? (c) Which project would you consider to be the most risky? (d) Which project would you recommend SFI undertake? Why?

Schedule and Integrated Risk Management

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Statistical Distribution for Risk impacts

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Statistical Distributions are enabled in Risk Options. Description of feature to the left.

Enter Base, Low, and High Impacts and select distribution type

Statistical Distributions
In addition to risk events you may define uncertainties as statistical distributions for: task cost task start time task duration income associated with task

If you enter only the low, base and high cost, duration, start time and income, RiskyProject will generate statistical distribution based on this data

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Monte Carlo Simulation

When your project schedule and risk breakdown structure is ready, click here to perform Monte Carlo simulations

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Result Gantt Chart

Compare original project schedule and result of analysis

White bars represent original project schedule (no risks)

Blue bars represent project schedule with risks

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Results of Risk Analysis

Project Summary: project duration, cost, and finish time with and without risks

Double click on any chart to view detailed information

Results of analysis for project cost, finish time, and duration

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Detailed Results of Analysis

Detailed results can be shown for each task or project for cost, duration, start time, finish time, and income.
Move the slider to determine the chance that project will be within budget

Get detailed statistical data

Data can be exported as an image or text

Palm Beach Case Study

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Cost, Income and Revenue

Cost chart is generated based on fixed and variables cost and income associated with tasks and resources

Compare forecasted project costs with (blue line) and without (red line) risks

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Probabilistic Cash Flow Analysis

Cash flow is generated based on fixed and variables cost and income associated with tasks and resources

Compare cash flows with (blue bars) and without (red line) risks

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Sensitivity Analysis

Prioritize critical risks

Tornado chart shows risks or other parameters that have the most affect on the project schedule

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Crucial Tasks
Crucial tasks for project cost and duration can be different

Crucial tasks have the most affect on the project schedule

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Risk Chart
Risk chart shows task duration and versus risk, associated with task

This task has low duration but high risk

These tasks have balanced risk versus duration ratio.

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Project Dashboard 3x3

Project Dashboard 3x3 is a condensed view of the most important results of analysis 3 most important project parameters (cost, duration, and finish time)

3 most crucial tasks

3 most critical risks

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Project Tracking
For each task at any moment you may enter how much work has been completed This task is 100% completed (green bar)

This task is partially completed (yellow bar) Risky project automatically adjusts the probability of risks for partially completed tasks
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Tracking Results
New project forecast is done each time actual project data is entered

Low, base, and high forecast

Original (baseline) project duration

Actual project duration

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AHP

Compare the Sizes of these Circles

91

A
A B C D E

B
A 1 1/7 1/9 1/5 1/3

C
B 7 1 1/3 5 7

D
C 9 3 1 7 9 D 5 1/5 1/7 1 3

E
E 3 1/7 1/9 1/3 1

Simple Experiment
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One test is worth 1000 expert opinions

Applying The Technique

93

1.
2. 3.

4.
5.

Select criteria(s) to evaluate Define comparison scale Perform pair-wise comparison Check consistency Calculate values

Merc or BMW

What does it answer ?

The question Which one do we choose? or Which

one is best ? by selecting the best alternative that matches all of the decision makers criteria.

Standard Preference Table

PREFERENCE LEVEL
Equally preferred Equally to moderately preferred Moderately preferred Moderately to strongly preferred Strongly preferred

NUMERICAL VALUE
1
2 3 4 5

Strongly to very strongly preferred 6 Very strongly preferred 7 Very strongly to extremely preferred8 Extremely preferred 9

How is it used ?
Say you have two criteria. Cost and quality for product A

& B. The cost for A= $60 and the quality is above average. The cost for B=$15 and the quality is right at average. Which do you choose? By making a matrix the price of B is very strongly preferred to A and A is only moderately preferred to B. The matrices of these preferences would look like . . . .

Using AHP to Score Alternatives

Prioritization Matrix
Attribute #1 Attribute #2 Attribute #3 Attribute #4

1
Attribute #1 Attribute #2 Attribute #3 Attribute #4

1 1/3 2 1/8

3 1 3 1/2

1/2 1/3 1 1/5

8 2 5 1

AHP Computational Procedure: 1. Populate AHP matrix by defining relative preferences on a1-9 scale 1. Sum each column 2. Normalize each column by its sum 3. Average each row to determine the final score for each concept AHP Weighting Scale

2
3.4583 7.5 2.0333 16

9 8 7
Final Score

Extremely Prefer Very Strongly Prefer Strongly Prefer Moderately Prefer Neutral 98

3
Attribute #1 Attribute #2 Attribute #3 Attribute #4 0.2892 0.0964 0.5783 0.0361 0.4000 0.1333 0.4000 0.0667 0.2459 0.1639 0.4918 0.0984 0.5000 0.1250 0.3125 0.0625

6 5 4 3 2 1

0.359 0.130 0.446 0.066

A number greater than 1 indicates that you prefer the alternative in the row over the alternative in the column.

Attribute #1

Attribute #2

Attribute #3

Using AHP to Rank Concepts

Characteristics of interest: 1,2,,i Concepts: 1,2,,j
w1 w2 w3

Attribute #1 Attribute #2 Attribute #3

Prioritization Matrix

score j wn snj
n 1

Score for Concept #1 Score for Concept #2 Score for Concept #3

s11

s21

s31

(w1*s11) + (w2*s21) + (w3*s31)

w1

s12 s13

w2

s22 s23

w3

s32 s33

(w1*s12) + (w2*s22) + (w3*s32) (w1*s13) + (w2*s23) + (w3*s33)

Concept #1

Concept #3

Concept #1

Concept #2

Concept #3

Concept #1

Concept #2

Concept #1 Concept #2 Concept #3 Matrix Diagram

s11 s12 s13

Concept #1 Concept #2 Concept #3 Matrix Diagram

s21 s22 s23

Concept #1 Concept #2 Concept #3 Matrix Diagram

Concept #2

Concept #3

s31 s32 s33

Attribute #1

Attribute #2

Attribute #3
99

Our sample problem

A company is selecting a new location to expand its operations. The company want to use AHP to help it decide which location to build its new plant. Company has four criteria they will base their decision on these. Property price, distance from suppliers, the quality of the labor pool, and the cost of labor.

How it is done ~ STEP ONE

Rank the criteria in order of importance ~use the same method used in ranking each criterion.

Criteria
Price Distance Labor

Price
1 5 1/3

Distance
1/5 1 1/9

Labor
3 9 1

Wages
4 7 2

Wages

1/4

1/7

1/2

Matrices given criteria and preferences

PRICE A A B 1 1/3 B 3 1 C 2 1/5 A B

DISTANCE A 1 1/6 B 6 1 C 1/3 1/9 A B A 1 3

LABOR B 1/3 1 C 1 7

1/2

1/7

WAGES

A
A B C 1 3 2

B
1/3 1 1/4

C
1/2 4 1

How is AHP is used in real life ?

Expert Choice a company that specializes in AHP

design software and performs services with it. Some of their clientele are:
Ford Motor Company Sprint PCS Department of Agriculture (USDA) Navy National Health Service of the United Kingdom

Ferrari SpA in Italy

How is AHP is used in real life ?

The USDA used it for the selection of bridge

materials across the nation in several states.

Is there anything AHP cannot be used for ?

Not really as long as the decision maker has set

criteria and set preferences of that criteria AHP can be used.

Try-1

1. This table contains the performance criteria and scores for four potential suppliers to Kramerica Industries. Evaluate the data and identify the best source for Kramerica. Performance Company Company Company Company Dimension A B C D Quality (W=0.4) 3 4 2 5 Cost (W=0.3) 4 3 5 3 Flexibility (W=0.2) 5 3 4 2 Speed (W=0.1) 2 5 5 4 2. This table contains a list of three companies that have been rated on four weighted performance dimensions. Which of the following statements regarding this information is best? Performance Strickland Thatherton Mega-Low Amerigas Dimension Quality (W=0.5) 4 4 2 4 Cost (W=0.4) 4 3 5 3 Speed (W=0.1) 2 2 4 5

Selecting Vendor-2

Contractor 1 2 3 4 Minimum Standard

Cost 20% $22,000 $20,000 $25,000 $22,500 Less than $25,000

Paint Time 25% 5 days 4 days 8 days 5 days Less than 1 week

Experience 20% 15 years 10 years 3 years 25 years 5 years in business

References Paint Quality 20% 15% Positive 20 year Strongly Lifetime positive Positive 25 year Strongly 20 year positive No negative 15 year references out guarantee of three

Case-2
Parameters of evaluation are as follows: experience, financial stability, quality performance, manpower resources, equipment resources,

Current workload.

Select appropriate weights with Expert Choice

The Vendor Details