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How Safran Risk Tackles Risk & Contingency Management

In our previous blog post, we addressed the vital need for risk and contingency planning. In the early 2000’s, schedule risk analysis became a mandate for organizations running complex schedules. Project managers had to demonstrate that they had considered risk and contingencies in the project planning process to ensure more predictable results. Rather than simply identifying the various risks at the beginning of a project, project success depends on the continuous evaluation of risks throughout the process, so project managers can account for variables and change. Safran has created a tool to alleviate this problem—Safran Risk.

Introduction to Safran Risk
Safran Risk is designed to aid project managers with risk and contingency management. Safran Risk is an intuitive, process-led user interface with a robust risk analysis component. The program allows users to seamlessly blend in the risk analysis component with scheduling applications for timely risk scenario evaluations.

By collecting the most accurate data in real-time, Safran Risk improves data integrity and streamlines disconnected processes in a way previous solutions have failed. Users are provided with a set of tools to forecast and accurately measure a project’s progress. Safran Risk offers unparalleled insight by giving users the chance to analyze different scenarios, quantify risks, and compare them. The Safran Risk user interface not only reflects the work that people do, but it also guides them through their risk management process.

How Safran Risk Solves the Problem
So, how exactly does Safran Risk solve the issues associated with risk and contingency management? First. Safran Risk defines project risks based on the data provided and anticipates potential outcomes. Next, the program checks for logic errors and begins to map risk alongside various project areas. At this point project managers have the option of running a risk analysis. Safran Risk helps users analyze the results and produces easy-to-understand reports to track progress and forecast potential problems.

By using Safran Risk, managers are able to glean reporting data in real-time and then build effective risk models through an easy, step-by-step process. It also allows users flexibility to customize the software based on a specific project’s needs.

For instance, an aerospace company creating a specialized aircraft model has components that require careful attention. For a project of this scale, cost efficiency and accurate reporting are necessary to ensure the aircraft is completed on-time, with the best possible and most cost effective materials results, to guarantee project success. Safran Risk allows project managers a solution to create a thorough process management, while controlling the risks at every stage.
Another benefit to using Safran Risk is the ability to correlate between unrelated data and variables. Users can account for both fixed and uncertain variables, and then produce reports for impact and scenario analysis. Safran Risk is a thorough risk analysis tool, aimed at helping managers anticipate all the variables involved in a project.

If you are considering Safran Risk for your next project, please visit our product page for more information. And stay tuned for our next video blog post about Safran Risk!

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