Administering a quality quantitative schedule risk analysis (QSRA) on a live project is no simple task. An indisputable constraint for creating a robust QSRA is the time available to validate and probe your model for insights. As an experienced Project Risk Manager, I have certainly witnessed ample timescales to create, test, and provide risk models slip away.
New Insight: Performing Integrated Cost and Schedule Risk Analysis on a Multi-Billion Dollar Project
Pacific Northwest National Laboratory (PNNL) tackles some of America’s greatest science and technology challenges, including strengthening the country’s energy resiliency and protecting national security. By utilizing their expertise in chemistry, earth sciences, and data analytics, PNNL’s researchers have taken great steps in innovating and pioneering a safer, cleaner, world.
Trimming even the smallest amount of time off complex projects can lead to significant cost savings. Effective scope management is paramount to saving time and should be a well-used tool in any project manager’s arsenal.
Over the last 50 years, MPR Associates has worked on a plethora of large-scale projects across a wide range of industries – including work for the US Department of Energy (DOE). Our latest case study explores the benefits MPR have enjoyed by using Safran Risk to conduct their cost and schedule risk analysis.
It’s crucial that project risks are identified and communicated effectively in order to minimize their impact. Accurately communicating risk to stakeholders, who may not understand the subject as well as industry experts, is key to ensuring mitigation decisions can be made.
With a spike in demand for their cost and schedule risk analysis know-how, Prima Uno moved from using Oracle PRA to Safran Risk. Our latest case study explores how they’ve found using the tool's rich suite of capabilities.
Mitigation analysis is a massive part of the risk analysis process, and Safran Risk makes it easier and less time consuming to conduct. It’s a huge improvement over OPRA, and this blog will explore why.
Conveying complex risk data to stakeholders and the C-suite – and making the data compelling – is often a challenge for project managers. Thankfully, Safran Risk has tools to help achieve this.
Very few projects are ever completed in line with original plans and budgets. Unforeseen changes are inevitable in project management. But putting proper change control processes in place can drastically minimize their impact.
Setting a baseline is a crucial element of project management. Without a baseline, there's no way to measure performance or conduct an earned value analysis for your project.
A sound principle of project management is ensuring the baseline is set at the planning stage and not altered later – unless due authority is received from the project owner. A proper baseline process earns value and credibility for the project.
