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Risk Forecast
ScheduleInsight — Monte Carlo Risk Report

Ganymede FPSO Topside Modifications

Phase 2 — Hook-up & Commissioning

Client
TerraOcean Energy Ltd
Contractor
Apex Marine & Engineering Ltd
Data date
15 October 2024
Planned completion
28 January 2025
Contract
NEC3 ECC Option A
Location
UKCS Block 22/09
Total activities
1,847 (634 remaining)
Iterations
10,000 Monte Carlo

Forecast summary

P50
4 Mar
2025
50% probability of completing on or before this date
P80
18 Apr
2025
80% probability of completing on or before this date
P90
2 Jun
2025
90% probability of completing on or before this date
On-time probability
11%
Probability of completing by planned date of 28 Jan 2025

Working calendar: North Sea Offshore (UKCS) — 10-hour days, 5 days/week, excluding weather downtime windows (H₁⁄₃ > 3.0m / wind > 25 kn)

P50 overrun: +35 calendar days P80 overrun: +80 calendar days P90 overrun: +125 calendar days

Finish-date probability distribution

Cumulative probability of completion by date — Monte Carlo (10,000 iterations)
100% 75% 50% 25% 0% Dec Jan Feb Mar Apr May Jun Jul 2025 PCD 28 Jan 11% P50 · 4 Mar P80 · 18 Apr P90 · 2 Jun Cumulative probability Planned completion date

Criticality tornado — top risk drivers at P80

Incremental duration contribution per risk driver (calendar days, P80)
North Sea weather windows +38d Steel delivery ex-Ulsan (KR) +22d Hook-up contractor availability +18d Concurrent deck removal scope +15d HVAC & instrumentation commissioning +11d Crane lift approvals (Safety Case) +9d

Risk driver detail

# Risk driver Category Impact at P80 Severity Key activities
R-01 North Sea weather windows
Q1 2025 seasonal WDW restrictions (H₁⁄₃ > 3.0m) limit offshore crane operations
External
+38d
High 1,104–1,218
R-02 Structural steel delivery — Ulsan
Lead time uncertainty on fabricated steelwork: 26d voyage + 5d port clearance, ±12d variance
Supply chain
+22d
High 876–891
R-03 Hook-up contractor availability
Meridian Marine Services resource window conflicts with parallel UKCS campaigns Q1 2025
Resource
+18d
High 1,204–1,287
R-04 Concurrent deck removal & installation
Interface risk between deck sections A3 and A4: removal must be mechanically complete before installation crane can mobilise
Programme
+15d
Medium 934–958, 1,001
R-05 HVAC & instrumentation commissioning
Specialist commissioning team availability; loop testing duration uncertainty
Resource
+11d
Medium 1,531–1,612
R-06 Crane lift approval — Safety Case amendment
Regulatory approval for modified lift plan; estimated 15–28 working day response time from HSSE regulator
Regulatory
+9d
Low 1,098

Forecast narrative

The Monte Carlo risk forecast for the Ganymede FPSO Topside Modifications Phase 2 programme indicates a significant risk of overrun against the planned completion date of 28 January 2025. Based on 10,000 simulation iterations calibrated to the North Sea Offshore (UKCS) working calendar, there is only an 11% probability of completing by the planned date. The P50 forecast of 4 March 2025 represents a 35-day overrun.

The single largest risk driver is North Sea weather window restrictions during Q1 2025. The programme's critical crane operations (Activities 1,104–1,218) are planned to execute during January and February, the highest-risk period for weather downtime on the UKCS. Historical meteorological data for Block 22/09 indicates a 40–55% probability of a weather-standby day during this window, which compresses the effective working programme and introduces non-linear knock-on into downstream activities.

Structural steel delivery from Ulsan represents the second material risk. The contracted voyage transit time of 26 days plus port clearance creates a narrow delivery window, and any single-voyage delay would immediately affect the deck installation critical path. Early contractor engagement to accelerate port clearance or procure a contingency voyage is recommended.

The P80 and P90 forecasts of 18 April and 2 June 2025 respectively reflect the potential for compounding delay should weather downtime, the Ulsan delivery, and hook-up contractor availability constraints materialise concurrently. This scenario is considered credible given the tight UKCS hook-up contractor market in Q1/Q2 2025, where Meridian Marine Services is simultaneously deployed on two other campaigns in the Northern North Sea.

The project controls team should treat the hook-up crew mobilisation activity (Activity 1,204) as an early warning trigger. Any indication of resource redeployment by Meridian should be escalated to contract management within five working days to allow time to engage an alternative provider without further programme impact.

Recommendations

Actions to protect the programme

  • Engage Meridian Marine Services immediately to confirm hook-up crew mobilisation dates (Activity 1,204) and obtain a written resource reservation. Initiate parallel sourcing from at least one alternative hook-up contractor.
  • Review structural steel shipment tracking with the Ulsan fabrication yard. Confirm vessel booking and establish a weekly voyage progress report with 10-day advance warning of any port delay.
  • Model two weather-standby scenarios with the crane operator: (a) 15% WDW impact and (b) 40% WDW impact. Pre-agree a contingency shift pattern for both scenarios and obtain client approval now.
  • Submit the crane lift Safety Case amendment (Activity 1,098) no later than 15 November 2024 to preserve the regulatory approval buffer within programme float.
  • Consider requesting a programme extension under NEC3 Clause 60.1(2) — accepted delay to obtaining approval — for the regulatory lift plan item, to protect the Defined Cost position.

Methodology

Monte Carlo simulation. This forecast uses a 10,000-iteration Monte Carlo simulation applied to the schedule network remaining at the data date of 15 October 2024. Duration uncertainty ranges are derived from three-point estimates (optimistic, most-likely, pessimistic) assigned to each remaining activity based on its risk driver category. The simulation applies PERT distributions to activities with identified uncertainty and triangular distributions to resource-driven activities.

Working calendar. The North Sea Offshore (UKCS) calendar applies a 10-hour working day, 5 days per week. Weather downtime windows are modelled probabilistically using 10-year historical UKCS met-ocean data for the project block. The calendar excludes the contractor annual plant shutdown period (22 December 2024 – 2 January 2025).

Criticality index. The tornado ranks risk drivers by their mean incremental contribution to total programme duration at P80, expressed in calendar days. Activities appearing on the critical path in more than 85% of iterations are classified as near-certain critical.

Limitation. This forecast is based on the schedule as submitted at the data date. It does not account for changes to scope, contract, or programme logic issued after 15 October 2024. The forecast should be refreshed at each reporting cycle using the current-revision schedule.

This is a condensed sample. The live Risk Forecast is considerably more extensive — generated from your own schedule with far more detail and complete supporting appendices.
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