PROJECT RISK ANALYSIS TOOLS
Risk analysis is an important process for project managers in large projects to find the factors that may affect negatively the success of a project or achievement of a goal.One of the more popular methods to perform a risk analysis in the computer field is called Facilitated Risk Analysis Process (FRAP).FRAP analyzes one system, application or segment of business processes at time.Various types of risk factors are there like unexpected changes in revenue, resources like that.
Project risk management requires a management commitment and necessary support tools to assist in the identification of the key risk factors, the implementation of actions plans to control and mitigate these risks, and to be able to document the whole process.
Advanced Project Management Software with Risk Register and Monte Carlo Analysis.Project managers can use RiskyProject for planning, scheduling, quantitative risk analysis, and performance measurement of projects with multiple risks and uncertainties.
Risk management is necessary. It helps mitigating risks in order to enjoy business success. On the other hand risk management is a work effort that can turn out to be time-consuming. Therefore it needs assistance to reduce time spent in risk management for administrative work.
performs risk analysis using Monte Carlo simulation to show you many possible outcomes in your Microsoft Excel spreadsheet—and tells you how likely they are to occur. This means you can judge which risks to take and which ones to avoid, allowing for the best decision making under uncertainty.
Oracle’s Primavera Risk Analysis
Oracle’s Primavera Risk Analysis is a full lifecycle risk analytics solution integrating cost and schedule risk management. Primavera Risk Analysis provides a comprehensive means of determining confidence levels for project success together with quick and easy techniques for determining contingency and risk response plans. You’ll 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. Combined, these form the basis of a “risk adjusted schedule,” which today is becoming the norm within the planning and scheduling process.
RiskTrak is based on the most current concepts in risk management. RiskTrak™ is specifically designed to effectively track identified risks and risk mitigation actions, then communicate mid-course adjustments to the project team.