As part of the Quantum’s internal knowledge sharing programme Adrian Stan, Forensic Planning Consultant recently held an internal training session on ‘Planning, risk and uncertainty using Primavera Risk Analysis’.
The training session contained a short introduction into the risk management of projects followed by exercises which demonstrated the concept of risk analysis through the use of modern project management software, Primavera Risk Analysis.
Based on Quantum’s industry experience the exercises covered the topics of uncertainty related to cost, duration and resource, as well as the identification and mitigation of risk events. The risk and uncertainty in Primavera Risk Analysis is being modeled based on the principles of Monte Carlo Simulation, where the total risk exposure can be defined as a sum between the estimate uncertainty and the risk events. Furthermore, the effects of risk on a project were analysed and presented allowing for better decision making by showing the extreme possibilities along with all possible consequences for “half-way through the project” decisions.
The training was undertaken by approximately 30 members of the Quantum team.
Quantum is acknowledged as one of the leading management consultants dedicated to serving the interests of the international construction and engineering industries. In addition to regular industry presentations, Quantum is also actively involved in the presentation of training courses and mentoring programmes both internally and for external associations.