If you are working on a major program it’s common for a more formal approach to risk analysis to be applied. Many Ten Six customers using Oracle Primavera P6 also use Oracle Primavera Risk Analysis the tool to support this process. Primavera Risk Analysis, which was formerly Pertmaster, is a great tool for performing schedule and cost risk analysis. It can help track and manage both quantitative and qualitative project risks, impacts and responses.
Some of the key features in Primavera Risk Analysis include:
- Risk Analysis Guide
- Schedule Check
- Templated Quick Risk
- Risk Register Wizard
- Risk Register
- Risk Analysis
Risk Analysis Guide
The Risk Analysis Guide in Primavera Risk Analysis introduces news users to the steps involved in running a risk analysis. This process includes:
- Validating the schedule
- Risk model development
- Risk analysis
- Reviewing the results
Integration and Quick Risk
With solid integration with Primavera P6, Primavera Risk Analysis allows you to run schedule integrity checks as you import your project schedule. This allows users to identify common scheduling pitfalls that may result in misleading schedule or risk analysis results. Primavera Risk Analysis can save time by not having to assign 3 point estimates to every task by using the Quick Risk feature to add uncertainty to each task.
Risk Analysis
Primavera Risk Analysis uses Monte Carlo-based cost and schedule analysis which covers numerous risk models including:
- Estimate uncertainty
- Task existence
- Probabilistic branching
- Fixed-cost uncertainty
- Variable-cost uncertainty
- Resource uncertainty
- Conditional branching
- Weather modeling
Primavera Risk Analysis provides a Risk Breakdown Structure (RBS) which allows you to categorize each risk in to a breakdown structure allowing for easy filtering for reporting. In addition, risk analysis can be made at both the project and portfolio level. The later offers support to strategic decision making during project selection.
Reporting
Primavera Risk Analysis has some great reporting capabilities that includes not only the standard risk summary reports but also, drill down histograms, distribution graphs, tornado graphs and scatter plots. You can easily toggle between schedule and cost views and filter by task or resource.
Summary
All of these things make Primavera Risk Analysis the go to tool for Risk Analysis, particularly if you are using Primavera P6. The two way integration and rich capabilities provides full lifecycle cost and schedule risk analysis. This allows you to determine the confidence and risk factors in your schedule and manage your contingency and risk response plans.