One of the key roles a Project Risk Manager plays is helping the team determine how much exposure the project has from the ‘known risks'. This helps them to calculate the amount of cost contingency the project should be retaining.
Opportunities and threats are often difficult to separate. What poses as an opportunity may become a threat if not correctly handled.
Effective risk analysis and management is fundamental to project success. Irrespective of the size or scale of your project, delivering it on time and within budget (not to mention preserving stakeholder confidence) is nigh on impossible if you haven’t taken the time to identify, analyze, categorize, prioritize, and gauge the impact of external risks before work commences.
There's nothing better than the feeling of being in control. Whether it's driving a fast car, being in control of your finances, or taking control of your work-life balance, being the master of your own destiny is a feeling like no other.
Oracle Primavera Risk Analysis (OPRA) has been a staple of the project controls community for over 30 years — and for good reason. Nevertheless, we’re regularly contacted by project managers looking to switch from OPRA to Safran Risk.
Without a doubt the largest event of its kind anywhere in the world, Project Controls Expo 2019 is only a few short weeks away. And once again, Safran is proud to sponsor both the London and Melbourne events.
It’s no exaggeration to say that manufacturing schedules are the foundation upon which successful projects are built. Correctly allocating resources, managing costs, and understanding the variables that may cause delays is vital if production is to be completed on time and within budget.
Cost and schedule risk analysis is fundamental to project success. Whether you’re undertaking a large-scale capital project that takes months to complete or something less resource intensive, understanding the risks that threaten to derail it is crucial.
Whether the aim of your project is to replace your existing processes, integrate innovative technology into your operations, or seamlessly deploy something brand new – you need to hit the ground running. This is because even small disruptions can have major consequences on the lifecycle of a project, resulting in greater risk – especially within complex projects that overlap, have multiple schedules, or are high-stake for your business.
Controls such as forecasting, scheduling, and risk analysis are integral aspects of successful project planning.