Product tour—Oracle Primavera Cloud risk management

A complete risk management solution

Oracle Primavera Cloud supports all six steps of the Project Management Institute (PMI)’s risk management framework.

What is risk?

• An uncertain event or condition that, If It occurs, has an effect on one or more objectives
  
  
  • Positive effects: risks are opportunities
  • Negative effects: risks are threats: escalate, avoid, transfer, mitigate, accept
  • Positive responses: escalate, exploit, share, enhance, accept
  • Negative responses: escalate, avoid, transfer, mitigate, accept

Plan how to handle risks

Capabilities: Establish the structures and settings to make handling risks easy.

• Define a risk breakdown structure and scoring matrix.
• Provide a basis for both qualitative and quantitative risk analysis.
• Standardize risk scoring across the enterprise.
• Set probability ranges as well as schedule, cost, and user-defined thresholds.

Benefits: Stop passing around spreadsheets and manage risk within a system.

Identify and manage risks from a central risk register

Capabilities: Maintain a centralized risk register accessible to everyone on the project team.

• Capture initial risk identification data.
• Easily import risks from Excel.

Benefits: Risk management is the responsibility of all project team members. A centralized risk register makes it easy for everyone to identify, assess, and monitor risks.

Conduct qualitative risk analysis

Capabilities: Qualify risk impacts.

• Identify, assess, categorize, and update the status of risks from a central location.
• Enter selections for probability and impacts based on the risk-scoring matrix.
• Gain immediate visibility into risk score.

Benefits: Developing a qualitative risk score is a fast and efficient way to assess risk probability and predict potential impacts.

Conduct quantitative risk analysis

Capabilities: Quantify risk impacts.

• Understand risk impacts for both cost and schedule.
• Run risk analysis using Monte Carlo Simulation.

Benefits: Linking risks to schedule activities makes running a quantitative risk analysis as easy as pressing a button.

Simplify schedule and cost outcome simulations

Capabilities: Visualize schedule and cost outcomes with scatter plot graph.

• Set specific targets for schedule and cost.
• See the likelihood of project completion within your parameters.

Benefits: Easily assess the probability of completing a project on time and within budget based on your targets.

Plan risk responses

Capabilities: Map out your risk responses.

• Capture both pre- and post-response data.
• Capture the response actions needed to achieve post-response position.
• Compare pre- and post-response scenarios.

Benefits: In one central location, get a comprehensive view of risks, including their impacts and the mitigative actions taken.

Monitor and control risks

Capabilities: Continuously monitor and control risk.

• Update the status of risks as a project progresses.
• Capture actual cost and schedule impacts for the risks that occur.

Benefits: Monitor and control risks throughout the life of any project.

Use dashboards for simpler management and reporting

Capabilities: Simplify risk management and reporting via dashboards.

• Consult dashboards with rich graphics that depict actual impacts and history.
• View projects individually or in groups for risk exposure reporting.

Benefits: Dashboards provide a simple way to see the progression of risks within and across projects.