Patent ID: 8306842

Claim:
A method executed by a computer for project planning and management, comprising: receiving planned expense information relating planned activities to corresponding estimated expenses for a well project that comprises drilling activities to drill wells at different sites using moveable drilling equipment; during performance of the project, tracking deviations from the estimated expenses for corresponding planned activities; receiving risk information identifying risks associated with the activities of the project for each of the wells, wherein the risk information specifies expected monetary costs of the respective risks; based on the risk information and use of the moveable drilling equipment for the drilling activities at the different sites, performing calculations using the computer to offset risks for the wells with respect to time and to aggregate the risks for the wells as an accumulated risk associated with plural activities for the wells, and presenting a view to a display indicating the risk as a function of time for each of the wells and the accumulated risk for the wells; responsive to identification of a time interval where the accumulated risk for the wells meets or exceeds a high risk value, planning for procurement of resources to handle the accumulated risk or rescheduling one or more planned activities to redistribute one or more risks of the accumulated risk over time; and based on the planning or rescheduling, updating the planned expense information relating planned activities to corresponding estimated expenses for the well project and presenting an updated view to the display.