No construction project is risk free
Uncertainties exist in every project and unforeseen events will occur. Cost/programme risk analysis is based on accounting for the uncertainty and risks that have not yet been taken into account in the initial project plan. The aim of the project risk analysis is to provide understanding and awareness into the possible impact uncertainty and risk events will have during a project.
Utilizing tools such as Primavera Risk Analysis Linx-to will formulate a risk adjusted programme, integrating cost and programme risk management to provide a comprehensive means of determining confidence levels for the project success. Additional benefits of the analysis include:
- Identifying common planning pitfalls that may result in misleading programme or risk analysis results
- Address full lifecycle risk management through advanced Monte Carlobased cost and programme analytics
- Integrate pre-developed risk registers and define new risk registers
- Report confidence levels with regards to finish dates, costs, float, internal rate of return and net present value