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.
The idea of contingency and risk modeling applies to a wide variety of large scale projects. One such category of project where risk analysis and contingency modeling is particularly vital to project success is in shutdowns, turnaround and outages. Being able to map out risks and assess risk throughout the project is critical to finishing on time and on budget.