# M0070 QRA Service

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [National Highways](/buyers/national-highways/contract-awards)
- Contract winner: [AtkinsRéalis](/contract-winners/atkinsr-alis/public-sector-contract-awards)
- Award value: £752,132
- Tender value: £752,132
- Award date: 19 March 2024
- Published: 25 March 2024
- Contract start: 19 March 2024
- Contract end: 31 March 2025
- Stage: awarded
- Procurement category: services
- Notice ID: c86087c0-0cd5-433b-a547-cc02d6541325-735033
- OCID: ocds-b5fd17-a5ecc5f6-3402-4e19-aa58-b7734c55a433

## Description

Effective risk and issue management is crucial to enable Major Projects Directorate \(MPD\) to make more informed decisions, to set realistic budgets and baselines for risk and uncertainty, to proactively manage risks and ultimately to improve the level of confidence in project and programme's delivery\. The Client is looking to set up a contract for provision of a Quantitative Risk Analysis \(QRA\) Service across MPD\. QRA is a process for estimating or calculating the potential risk impact of an event or series of events based on statistical sampling and modelling techniques\. It identifies a probabilistic range of outcomes as opposed to a deterministic \(single point\) estimate for the overall risk impact on a project\. QRA encompasses analysis of cost impacts \('quantitative cost risk analysis' or QCRA\) and schedule impacts \('quantitative schedule risk analysis', or QSRA\)\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/c86087c0-0cd5-433b-a547-cc02d6541325-735033)