Construction Project Management with RiskyProject
“Revay is using RiskyProject for analysis of cost and schedule uncertainty and risk driven events on the concept study phase of a multi-billion dollar oil sands mine, bitumen recovery and upgrader project. We are especially pleased with RiskyProject’s straight forward and intuitive data entry fields and the similar ease with which meaningful reports can be generated. Consequently the time spent on the learning curve for new users to become confident in the analysis of complex scenarios is particularly short.”
Martin Gough, P.Eng.,
Revay and Associates Limited
Risk Management and Claims Consulting Services
Does this sound familiar?
You have created a detailed and well thought out project schedule of a construction project. But then something happens:
- Contractor could not complete his work on time
- Necessary components did not arrive
- Budgetary problems has occurred
- The client has made new requests
- …and many more
What does your construction project schedule really look like if you take into account all the risks and uncertainties that surround it?
Construction Risk Management Workflow
- Create project schedule of the construction project or import it from Microsoft Project, Primavera, FastTrack, or other project management software.
- Create a detailed list of risks and uncertainties and assign risks to the project task, resources and costs.
- Calculate new more realistic project.
- A realistic duration for your project
- What the project will cost with all potential risk mitigation efforts
- What are the crucial tasks – tasks that have the most amount of risk.
- What are the critical risks – risks that can have the most affect on your project and need to be mitigated first
- What is the chance that project will be completed on time and within budget
- Track your accruals: forecast future project performance based on your actual data about activities and risk
- Report your results
RiskyProject Main Features
- Powerful Scheduling Engine – RiskyProject has its own scheduling system. You define tasks, dependencies, constraints, resources, and costs.
- Interface with other Project Management Software – Microsoft Project, Oracle® Primavera, MindManager, Project KickStart, FastTrack, and others
- Define different risks – at the project level and for each separate task or resource. You also can define ranges for task duration, cost, start and finish times. This information together with project schedule is used in the quantitative risk analysis.
- Risk-aware Gantt Chart – Uncertainties in task duration, start and finish times are shown graphically in a special Gantt Chart.
- Project Risk Dashboard 3×3 – An easy way to view results of risk analysis: three main project parameters (cost, duration, finish time) with and without risk; three most crucial tasks, three most critical risks.
- Tracking Project – You enter the percentage of the task done on the particular date. RiskyProject then calculates the projected task duration and updates the risk profile of the task.
- Deadlines – RiskyProject Lite allows you to define task or project deadlines and assign different actions to them: cancel task, cancel project, etc.