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Wed 3 Mar 2010

Primavera Risk Analysis 8.6 Overview

Posted by Kimberly Baker, under Project Portfolio Mgmt. Tags: , , ,

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By Tamim Kulaly, PMP

The first important question is “why do projects fail?” There could be several reasons:

  • Project over run –  The project takes longer than planned
  • Cost over run – Executing the project cost more than budgeted
  • Underperformance  – The project team did not deliver the goals of the project
  • Plan too optimistic – Evidencing a lack of understanding of true scope of the project
  • Scope creep – The scope of the project increased but plans and budgets were not revised accordingly
  • Other – Sometimes things go wrong due to lack of appropriate resources or equipment failure or bad weather or other unpleasant surprises.

To avoid the downfalls of project failures, project centric organizations should look into Risk Analysis products to minimize project risks. Oracle’s Primavera Risk Analysis is a full lifecycle risk analytics solution integrating cost and schedule risk management. Users will have an objective view of required contingency to account for cost and schedule uncertainty as well as analyzing the cost effectiveness of risk response plans. Read the rest of this entry »