KEY BUSINESS BENEFITS• Complete cloud based solution backed by the power of Oracle Corporation • Unite project teams and stakeholders through collaboration and strong feedback methods • Reduce the risk of cost and schedule overruns • Optimize management of all resources for maximum ROI • Monitor and visualize project performance vs. plan • Confidently make and keep project commitment
Primavera Risk AnalysisEvery project has risks. The organizations that succeed are the ones that plan for those risks— anticipating, mitigating, and providing response and contingency plans for negative events that may or may not occur. Oracle’s Primavera Risk Analysis software provides the tools for doing just this, enabling companies to model risks and analyze the cost and schedule impacts of mitigating them—and, in the process, taking much of the uncertainty out of project and portfolio management. By integrating directly with project schedules as well as cost estimates to model risks and uncertainty, Primavera Risk Analysis provides a full-lifecycle cost and schedule risk analytics solution for the Primavera project portfolio management applications and Microsoft Project. Providing quick and easy techniques for determining contingency and risk response plans as well as a comprehensive means of reporting project confidence levels, Primavera Risk Analysis risk-loads projects through risk registers and risk templates before using Monte Carlo simulation to analyze them. It then provides a variety of reports, such as risk histograms, tornados, and scatter plots, that enable users to easily identify risk drivers before (optionally) publishing the resulting risk-adjusted schedules back into the schedule.
KEY BUSINESS BENEFITS• Integrate directly with project schedules and costs • Provide a comprehensive means of reporting project confidence levels • Produce risk analysis reports in a variety of formats • Provide techniques for determining contingency and risk response plans • Confidently make and keep project commitments
At many companies involved in large-scale projects, I’ve noticed that project engineers could be engaged for any project and for many different roles. It seemed to me that little care was taken in how well the new role fitted with the talent, skills and personality of the project engineer. So it is fate that decides if one becomes a superintendent, calculator, budget estimator, QHSE engineer or… planning engineer! Just like you, I have witnessed quite some mismatches and this should not surprise you. Being engineer because you studied something along these lines, doesn’t erase your personality and predominant skills.Read more
Activity types: ‘Level of Effort’ and ‘WBS Summary’, what are they and what can they be used for? The first ones are also referred to as ‘Hammock activities’. Doesn’t that have a nice ring to it? This term stems from their appearance as activities ‘hanging’ between two dates. In this blogpost, we will give a quick technical explanation and their most common use, but we’ll also show four situations where they can be surprisingly useful.Read more
Do you feel your budgeting process has failed from the start of your project? Have you learned that you overbudgeted or underbudgeted the activities in your performance measurement baseline (PMB)? Are you willing to take your Earned Value Analysis (EVA) to the next level? Then this is a blog post for you.Read more
Duration and Calendar Duration, Time and Units/Time explained, P6 basic.
Time is of the essence. Both in project control and in our personal lives. As we’ve been dealing with time since childhood, you would assume we have learned to communicate on it effectively and unambiguously. But when someone says: “this activity is going to take 48 hours” you might take that as 2 days while he might’ve meant it will take two persons 3 8-hour-working days to complete.Read more
For a long time, when thinking about Project Management, the first thing people associate to was scheduling. Naturally, most project-based software tools, like Microsoft Project or Primavera P3 and the subsequent Primavera P6 Professional, were focusing on that process. Other tools existed, focusing on different areas, but always a specific one, like Primavera Risk Analysis, for example, which focuses on risks. No well-balanced and integrated tool did exist.Read more
One of the emerging techniques within project controls is (forensic) delay analysis. It is one of the money makers of project controls. Forensic schedule analysts are among the finest and most respected experts in project controls. They study and investigate events and use Critical Path Method-based techniques to calculate the cause and impact of delays with an aim to support claims through negotiation or even legal proceedings.
At Primaned Belgium, we consider it to be a growth opportunity and we do invest a lot of time to continuously improve our skills in delay analysis. Nonetheless, we have mixed feelings about this domain.Read more
As consultants, we frequently come across schedules of substandard quality. You’ve probably seen our top-picks of mistakes as well: overuse of SF-relationships, too many constraints or even the absence of links between the activities. We receive requests to perform a schedule quality analysis more often these days, so it seems that the market starts understanding the importance of quality standards.Read more