Whilst schedule risk analysis is an essential and highly valuable exercise for many projects, it can also be an involved and time consuming process. It can take organizations weeks and often months of interviewing and workshops to reach the stage where they have gathered enough pertinent information on both the schedule and inherent risks to that schedule, to build a truly representative risk model.
For decades, project professionals have seen the countless statistics about project overruns and delays. However, by leveraging the benefits of enterprise project and risk management solutions, organizations are able to improve project confidence and ensure timely delivery. Watch the short video clip below to see how Safran Project can plan, schedule and ensure on-time delivery of projects, mitigating risks and uncertainty in the process.
In our previous post we outlined several of the difficulties associated with managing shutdowns, turnarounds and outages (STOs). If this type of project is not properly planned and controlled, a company is at risk of serious budget overruns and schedule delays. Safran Project 7 is designed to assist organizations with streamlining STO planning and execution—fully integrated with SAP to form a comprehensive solution.
Streamline STO Planning & Execution
Planning and managing shutdowns, turnarounds and outages in the process plant environment is a complex and demanding function. If turnarounds are not properly planned, managed and controlled, companies run the risk of serious budget overruns, costly schedule delays and negative impacts on customers.
Release Followed by Webinar Demonstrating Safran Risk 1.5
HOUSTON—Dec. 1, 2015—Safran Software Solutions, a premier provider of Enterprise Project and Risk Analysis software, has released Safran Risk v. 1.5 for clients worldwide. Designed for project stakeholders and risk professionals, Safran Risk provides analysis of both project schedule and cost data in an intuitive process-led manner, helping organizations identify and mitigate project risks earlier.
Safran Risk has chosen a fundamentally different approach to measuring uncertainty and has created a program with the capability to capture multiple levels of uncertainty and risk for individual projects and gain key insight into the impact of each individual factor. This gives project managers confidence in their assessment of projects with various risk factors and enables them to present accurate estimates of a projected project. Watch the video below to see examples of a real life project with various uncertainties using the risk register in Safran Risk.
Schedule Risk Analysis has developed over many years into a mature discipline with its own set of tools and techniques. However, projects still fail to meet their objectives despite the principle that schedule risk analysis should contribute to success. Adequately modeling risk and uncertainty is a task project teams face every day, often without the right processes to measure both with confidence.
In project intensive organizations, such as EMAS, work is fluid and dynamic – introducing a need for higher emphasis on readiness no matter the situation. Jamie Marzonie, a Senior Risk Specialist at EMAS AMC, discusses the importance of managing schedules and quantities of risk, and how Safran’s Integrated Risk Modeling can ensure projects are delivered on time and on budget.
Risk and contingency management is one piece of the puzzle when managing a complex project. One of the first steps towards success is assessing the risks associated with a project—it’s vital to identify and track, the potential pitfalls prior to the project start date, as well as throughout the project schedule. Projects and plans evolve, thus project managers must effectively account for margin and change.
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.