Blog Archives

Risk Managers as part of Project teams – Moral Hazard?

A great deal has been written about Risk Managers being sacked for advising against their senior manager directions (HBoS Risk Manager sacking by his Board, etc). But most Risk Managers employed by organisations work in project teams and involved in all stages of risk management – identification, analysis and mitigation. Of the three, identification Read the rest of this entry

Risk Management and Six Sigma

Have you /your organization combined the powerful concepts of Six Sigma with Quantitative Risk Analysis techniques (Schedule risk analysis using PertMaster or Cost Risk analysis using @Risk)? As a professional who has had the fortunate experience of both concepts, I happen to think in the affirmative. In fact, the symbiosis between the two philosophies goes beyond modeling Read the rest of this entry

Extracting the most out of Pertmaster

If you are hearing about PertMaster for the first time, then this post is not really intended for you!! This post is for those who have seen their Risk professionals using PertMaster to assess the confidence of their project performance. Alternatively, you may be a departmental head trying to understand what exactly does your Risk professional do!! Either way, you will through this article appreciate that PertMaster is not just a tool for Schedule Risk Analysis or QSRA (as it is commonly known).

Did you know that:

  1. PertMaster can remove the need for a planning software (well, atleast in most cases). It has basic capabilities of a planning package and I would buy PertMaster rather than Microsoft Project – as you can do most of the tasks – baseline, critical path
  2. With PertMaster, you can undertake cost risk modeling on projects /programmes. Read the rest of this entry