Blog Archives

Should risk practioners bother with qualitative risk assessments?

The subjective technique of identifying risks, categorisation on Probability – Impact Grids and management using comprehensive Enterprise Risk Management software (ARM, PREDICT, etc.) forms the core function of most Project Risk Management frameworks – often referred to as ‘Qualitative Risk Assessment’. Either managed in spreadsheets or on ERM software, they also offer additional possibilities (such as the Monte Carlo engine inbuilt into ARM). But should Risk practitioners prioritize Qualitative risk assessments over richer, and complex modelling Read the rest of this entry

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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