QSRA: Introduction for risk/planning professional and decision-makers webinar
It is increasingly best practice to produce plans that utilise ranges for uncertainty and consider the probability of risks impacting the plan. Many planners have never produced a probabilistic schedule, yet it is increasingly common practice.
The goal of the webinar was to encourage more people to try this method of planning, and to do so confidently.
All projects, programmes and portfolios are inherently risky because they are unique, constrained, based on assumptions, performed by people and subject to external influences. Risks can affect the achievement of objectives either positively or negatively. Risk includes both opportunities and threats, and both should be managed through the risk management process.
The APM Body of Knowledge 6th edition reference describes QSRA as follows:
“Quantitative risk assessment focuses on overall risk and is based on more numerical approaches. Typical quantitative techniques include Monte Carlo analysis, decision trees and sensitivity analysis”
This webinar is suitable for professionals with an intermediate level of experience.
This webinar has been sponsored by Safran Software www.safran.com
Safran Software has long been recognised as a leading provider of project controls software, with a special emphasis on risk management. It is for this reason that Safran is especially happy to sponsor and be aligned with this webinar. Based in Norway but with offices in many international centres and with a world wide partner network, Safran has provided the very latest project controls software for 25 years. The power of quantitative risk analysis (QSRA) is embedded in both the scheduling and dedicated risk managed tools provided and adds another level of confidence to the planning, resourcing, and execution of complex projects.
Risk thought leaders around the world have adopted Safran Risk as the leading application of choice for complex projects. An example of this is the Risk assessment tool designed by Safran, in partnership with Hulett & Associates. This free-to-use assessment measures a project’s level of risk preparedness across four sectors: scheduling competence, risk awareness, and qualitative and quantitative risk analysis. Anyone attending this webinar, with an interest in the latest risk analytics and techniques can try this Assessment free of charge on Safran’s web site.
The presenters Tony, James and Graham have very kindly allowed their presented material to be made available for viewing.
The slides on Slideshare and the webinar recording on YouTube is now available in our APM resources area and also embedded below for reference.
Questions raised during the recording are being reviewed and together with the responses will be published here shortly.
Upcoming APM Risk SIG conference:
Using Risk to Influence the Future
Tuesday 26 March 2019, Birmingham
Risk Management in projects can be the difference between success and failure. The APM Risk SIG Conference, sponsored by Sword Active Risk, will explore ways that the project profession can harness risk management to improve the outcomes of its projects and influence the future. From quantitative risk assessments to strategic planning and decision making, this conference will demonstrate how maximising the effectiveness of risk management will in turn maximise the social and economic benefit of the projects we deliver.