Oracle Primavera Risk Management Users Guide - ENGINEERING MANAGEMENT

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Oracle Primavera Risk Management Users Guide PDF The purpose of risk management is to identify different types of risk, in the form of...

Oracle Primavera Risk Management Users Guide

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Oracle Primavera Risk Management Users Guide PDF
The purpose of risk management is to identify different types of risk, in the form of threats and opportunities that exist for a project and understand the impact they can have on the project's objectives. Risk management also includes developing strategies to prevent undesirable risks, or threats, from occurring or to minimize their impact to the project if they do occur. Alternately, the management of opportunities involve attempts to maximize the probability of an opportunity occurring and to put in place strategies to realize the greatest benefit should the event occur.

Oracle Primavera Prime provides a set of risk management features that enable you to document all project risks and incorporate both qualitative and quantitative risk analysis techniques to determine the impact of risk on your project. Using the risk management tools provided by the application can give you a realistic and multi-faceted perspective of the threats and opportunities that exist for a project and how they can affect your project budget and schedule objectives.
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Oracle Primavera Prime risk management offers the following features:
  • A risk register where you can log all project risks and prioritize them based upon your own risk scoring metrics.
  • The ability to run a Monte Carlo analysis on a project, incorporating schedule and risk data to produce probability curves showing expected time and cost outcomes and the probability of achieving each one.
  • The ability to develop risk response plans to address project risks and establish post-response scenarios that can be compared with pre-response results.
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