David Hulett

David Hulett, Ph.D. and President of Hulett & Associates LLC is recognized as a leader in project cost and schedule risk management and project scheduling. Dr. Hulett has conducted many risk analyses focusing on quantifying the risks and their implications for project cost and schedule.

Dr. Hulett has focused for the last 20 years on quantitative schedule risk analysis and integrated cost-schedule risk analysis. This includes the necessary skills and experience over many projects to:

• Review and improve the schedule logic

• Incorporation of the project budget through assigning costed resources to activities in the schedule

• Use the Risk Register as the basis of in-depth quantitative risk data interviews

• Model the application of risks to the schedule durations and cost elements for a Monte Carlo simulation

• Derive results such as the contingency reserves of time and cost as well as the prioritization of risks to time and cost

• Leading the project team in workshops to develop a risk mitigation strategy for better project results.

Dr. Hulett is well-known as a leader in the Project Management Institute (PMI) for project risk and scheduling standards, including leading the risk management chapter in the Guide to the Project Management Body of Knowledge (PMBOK® Guide) and the Practice Standard for Project Risk Management and participating on the Core Committee for the Practice Standard for Project Scheduling. He is preparing a Recommended Practice for the Association for the Advancement of Cost Engineering International (AACE) on integrated cost and schedule risk analysis. Dr. Hulett is heading an expert group sponsored by the PMI College of Scheduling to assist the US Government Accountability Office (GAO) by revising its scheduling best practices used to review government programs.

Clients of H&A represent many industries, including: aerospace and defense, oil and gas, construction, pharmaceutical development and plant construction, transportation, communications, IT, and large science. The clients are in the US, South America, south-east Asia and the Middle East. Clients include:

• Aerospace and Defense: Lockheed Martin, Raytheon, Northrop-Grumman and General Dynamics

• Government Agencies: Department of Energy Los Alamos, Sandia, Oak Ridge, Rocky Flats and Brookhaven National Laboratories

• Other government Agencies: NASA, US Army,GAO, GSA and DCMA

• Oil and Gas: Conoco-Phillips, Petrobras (Brazil), Petronas (Malaysia), British Gas and El Paso Corporation

• Pharmaceuticals and medical equipment: Wyeth, Bristol Myers Squibb, Pfizer, Guidant

• Transportation and Construction: Caltrans, CCC (Athens GR)

• Other clients include: DirecTV, St. Joseph Health Centers

H&A has pioneered the Risk Drivers approach to integrated cost and schedule risk analysis including encouraging Pertmaster to develop the necessary software and Beta testing that software. Dr. Hulett has as much experience as anyone in applying Risk Drivers to large multi-year projects leading to proactive risk mitigation planning for better project results. In these assignments the client learns the probable cost and schedule of the existing project plan, the priority risks that drive those results and risk mitigation actions that address those risks.

H&A also provides proprietary training in project risk management and project scheduling. Some courses provide computer keystroke training within the context of project schedule and cost risk analysis.

Dr. Hulett has published Practical Schedule Risk Analysis (2009) for which he was recognized by the PMI College of Scheduling for “contributions to the scheduling profession” in 2010. He is at work on another book, Cost Risk and Integrated Cost. Schedule Risk Analysis. He has presented papers on quantitative risk analysis topics, including most recently integrated cost and schedule risk analysis, at conferences such as NASAs PM Challenge, PMI’s congresses, INCOSE and AACEI annual conferences, user groups for Primavera, C/S Solutions, Palisade and Crystal Ball, as well as at the PMI Risk Management SIG conferences and at MarcusEvans conferences in various Asian countries.

Dr. Hulett has held strategic planning positions at TOSCO, an oil company, and at TRW in aerospace and defense. In the Federal government, Dr. Hulett managed offices in the Federal Energy Agency (FEA), the Department of Energy (DOE) and the Office of Management and Budget (OMB). He was also an economist with the Federal Reserve Board of Governors. He was an Instructor in the Economics Department at Harvard University. His Ph.D. in Economics is from Stanford University and his B.A. is from the Special Program for Public and International Affairs (Woodrow Wilson School) at Princeton University.