Risk Based Schedule?

I am interested to know more about risk based schedule. Does any body have experience in this field and please tell me how was the outcome and result? Do you know good materials or sources which can help me to learn more about it? Thanks

I am not too sure about this term "Risk based Schedule". Usually, we develop a schedule and perform a risk analysis on it using permaster or similar software and work out the P50/75/90 dates. For instance, P90 dates would have minimal risks and you can call that least risky schedule whereas P50 dates schedule might be termed as high risk schedule. I have applied this in my previous project and found it very helpful especially when it comes to Client buy-in. Hope this answers your query.

There are softwares like Spider project that lets you develop your schedule utilizing 3 time estimates based on true pert method, probabilistic, optimistic and most likely. Utilising this feature you can cover your risks as contractor when you present your external schedule to the client you could present the probabilistic schedule (with considerable buffer compared to Most Likely and Optimistic Schedule), while internally you could utilize the schedule developed on most likely time frames, and put up a bonus incentive to project team to achieve the optimistic schedule.   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------