CARAS have formed a strategic partnership with EP Risk Management Pty Ltd (EP Risk) and the School of Mathematical and Physical Sciences of the University of Newcastle (UON -Statistics) to develop accurate risk models for contaminated site remediation projects. We have developed a system that quantifies the risk and uncertainty associated with the remediation of contaminated land assets. This allows our client to prioritise risk management efforts on items of greatest impact to achieve the best available financial outcome. Our goal is to quantify the uncertainty and generate an accurate risk profile of the estimated Total Outturn Costs on a project.