Qualitative Risk Modeling In Primavera Risk Analysis

Qualitative Risk Modeling In Primavera Risk Analysis

Oracle Primavera Risk Analysis software is one of the most powerful solutions to manage risks throughout project life cycle.

Generally, lots of risks identify in a project and their categories includes wide range. We are unanimous in this principal that all projects have risk and It is essential to not neglect to manage all of them!

All of us has an obvious understanding of type of risk that directly affects Time or Cost of project like these: Extension of time of a task, being delay in start of a task, Extra cost of Bulk or tagged materials and so on. We can assign these kinds of risks directly to time and cost of each related task in software and evaluate the impact by Monte Carlo simulation .
But how about this kind of Risks: Poor understanding and detail in specification, Health risks for employees in site place, Likelihood changes in our client managerial team, Underestimating of inflation rate for the future, a big brawl in our project vicinity or in the worst case, happening a war in your neighborhood! Or an opportunities like this: Reuse previous design work, it may be possible to use designs created for previous project? In other word, the risks that affect other project’s objective as Scope, Quality, Benefits, Resources and so on.
If we want to analyze a risk  by software and evaluate its impacts well enough, we have to model it and If we want to model a risk, we should assign it to a task or resource (or assign to a calendar) .But in aforementioned  cases , Those risks are overall and it is out of our ability to determine obviously which activities or resources and in  which degree will be affected by those risks?
By the use of Risk Register in software, you can add these overall qualitative risks to your plan and do all necessary analysis. After that, you can offer mitigation solutions to decrease the impact of threat or promote the impact of opportunities then, build impacted plans according to Pre-mitigated and/or Post-mitigated registered risks to analyze what will happen after utilize mitigation solutions plans and continue your analysis.

To know more about PRIMAVERA Risk analysis training course , click on below link

PROJECT Risk Management with Primavera Risk Analysis

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