Oracle Primavera Risk Analysis Training

Managing Risk in Primavera Risk Analysis Course

Figure 1: Oracle Primavera Risk Analysis

This course provides training for Primavera’ s Risk Management solution. Participants will gain a thorough background in the basic concepts of risk management. Oracle Primavera Risk Analysis Training class leads you through examples of specific risk modeling techniques and provides a lab-style workshop on the end of every day to allow students to apply the learned techniques.

Professional Development Units: Earns 19.5 PDUs

Learn To

Figure 2: Primavera Monte Carlo Simulation

• Use a Risk Register to assess risks qualitatively or quantitatively
• Run a risk analysis
• Use a Risk Register to propose, evaluate and justify mitigation
• Track planned mitigation with rest of the project

Course Objectives

Figure 1: Oracle Primavera Risk Analysis

1. Apply a risk assessment to a project schedule, resources and costs
2. Interpret, communicate and justify a risk analysis to the project team, management and stakeholders
3. Use risk management to improve your project management
4. Set targets and contingency, set corporate and customer expectations
5. Track planned mitigation with rest of the project

Audience

• End Users
• Project Manager
• Functional Implementer
• Business Analysts
• Planners and Schedulers

Suggested Prerequisites

• Fundamental Project Management knowledge
• Knowledge of Windows

Course Topics

1. Basic schedule and cost risk analysis theory
2. Using three-point estimates for activities
3. Running a quantitative risk analysis
4. Understanding results (histograms, tornado charts)
5. Understanding project drivers (duration sensitivity, criticality)
6. Integration with Primavera
7. Cost & Resource Uncertainty
8. Risk assessment templating
9. Correlation, Probabilistic Branching
10. Risk Register (Risk Events)
11. Risk analysis techniques
12. Response Planning
13. Cost/Benefit analysis

Course Contents

1. Introduction to Primavera Risk Analysis
• What is Pertmaster?
• Primavera Risk Methodology
2. Overview and Navigation
• Describe the benefit of quantitative risk analysis
• Provide a general description of the Pertmaster risk methodology
• Navigate the Primavera Risk Analysis screen
3. Understanding Risk
• Identify two kinds of project risk
• Describe how risk an impact a project
• Discuss schedule types and the risk implications of each
• Explain how Primavera Risk Analysis handles uncertainty and risk events
4. Schedule Review
• Explain the importance of a schedule review
• Describe scheduling issues that might compromise a risk analysis
• Perform a schedule review
5. Pre-Analysis Check
• Describe the purpose of the pre-analysis check
• Use Duration Quick Risk to add uncertainty to a project
• Run a project risk analysis
• Use the Duration Graph to review analysis data for the entire project and for individual tasks
• Use the Tornado Graph to identify and validate project drivers
6. Applying Duration Uncertainty
• Use three methods to apply duration uncertainty to a project
• Define a new task user field in the project plan
• Format and add a new column to the Gantt Chart view
• Configure a template for use with Templated Quick Risk
7. Task Existence / Existence Probability
• Define task existence and existence probability
• Insert a new task into a project schedule
• Configure links between tasks using Task Details
• Assign existence probability to a task using Task Details
• Assign a existence probability to a task using a column in the Gantt Chart view
8. Basic Probabilistic Branching
• Define basics of probabilistic branching
• Configure relationship between project activities using the Links tab in Task Details
• Use the Risk and Uncertainty tab and the Probabilistic Branch sub-to assign probabilities to different branching links
9. Advanced Probabilistic Branching
• Define probabilistic branching
• Configure relationship between project activities using the Links tab in Task Details
• Use Risk and Uncertainty tab and Probabilistic Branch to assign probabilities to different branching links between tasks
10. Risk Register
• Use the Risk Register to record probable risks and their qualitative schedule and cost impacts
• Map risks to the specific project tasks that they will impact
• Quantify risk impacts and make changes to individual impacts on specific project activities
• Document a mitigation response to each risk
• Fine-tune the effects of mitigation on risk impacts
• Build pre and post mitigated risk-impacted project plans
11. Correlation
• Define correlation
• Use a scatter plot to illustrate correlation
• Use the Risk and Correlation Summary dialog box to set correlation between two tasks whose risks are related
• Explain the Central Limit Theorem
• Use the Distribution Analyzer to view S-Curves
• Use correlation to compensate for the Central limit Theorem
12. Resource and Cost Uncertainty
• Use Plan Options to set a plan’s currency symbol
• Use the Resource dialog box to define a resource and its cost uncertainty distribution
• Use the Resource Uncertainty sub-tab in Task Details to assign uncertainty to a task’s resource allocation
13. Analyze and Mitigate
• Use the Distribution Analyzer to compare S-Curves generated from multiple risk analysis
• Determine where to focus mitigation efforts using the Tornado Graph
• Use Risks display mode in the Tornado graph to see which risks have the most impact on project duration and cost
• Build and format a P-Schedule