What is Mandrel?

Mandrel is a costing tool which helps you capture and analyze uncertainty.

Another name for uncertainty is risk. Mandrel helps you deal with project risks from the outset.

Projects and programs have a tendency to exceed their budgets. Very often, this occurs not because of poor management but because the budget itself was insufficient.

Insufficient budgets typically result from a failure to make allowance for uncertainty.

There are two basic types of cost uncertainty:

Quantity uncertainty:      how much will it cost to do the things you know about?

Scope uncertainty:         what exactly needs to be done?

Mandrel lets you:

  • Capture uncertainties in individual costs such as labor, materials and subcontracts;
  • Capture scope uncertainties (risks) by assigning probabilities to expenditures;
  • Track both certain and uncertain costs as a function of time;
  • Show bottom-line costs, cost variances and risk exposures.

In addition, Mandrel lets you handle a broad range of risk analysis, plus price lists, taxes, currencies, cash flow predictions, cost performance calculations, audit trails of changes, Monte Carlo setup, and much more.