Every Project has some element of risk involved. Effective and successful organisations are the ones who effectively control their exposure to, and mitigation of, said risks.
‘Risk’, as defined by businessdictionary.com, refers to ‘a probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.’
Risk Analysis is concerned with the conceptualising and modelling of any potential risks companies may or may not be exposed to through their project and portfolio initiatives. In large corporations operating complex and capital intensive projects, small realised risks can often result in multimillion pound losses and/or project and schedule delays. Accurately modelling risk, and assigning numerical values to avoiding or remedying them, involves complex software processes, and is a highly specialised field.
Oracle’s Primavera P6 Risk Analysis tool, is considered by many to be the premium Risk Analysis software tool on the market today. Hyde Park Solutions offer market leading pricing on the application, and can also carry out bespoke in-person training on the Primavera P6 Risk Analysis software program.
Some basic examples of corporate risk applicable to risk management professionals include:
- Increased competitive pressure: As consumer spending continues to fall, companies are facing stiffer competition to sell their goods and services.
- Political trend: Politics can have a serious effect on market sentiment. The uncertainty associated with Brexit, and subsequent negative effect on the British motor industry is one such example.
Oracle Primavera Risk Analysis takes the uncertainty and guesswork out of risk management, instead empowering risk management officials through the provision of a comprehensive set of software tools enabling Project Managers to model and analyse risks and their probability of occurring, before planning and considering the cost and schedule impacts incurred when mitigating them.
Oracle Primavera P6 Risk Analysis comes with many essential and useful features built in, including:
- Schedule Check
- Templated Quick Risk
- Risk Register Wizard
- Risk Register
- Risk Analysis Charts
The application also includes a Risk Analysis guide. Alternatively, a Primavera Risk Analysis Tutorial, and Primavera Risk Analysis PDF can be found here.
We’d be happy to discuss any Risk Analysis software or consulting requirements you may have. Contact us today for a no-obligation discussion.