Recommended Risk Analysis Reading
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Before going into the practical application the following link can provide you with an introduction of how some scheduling software manage risk.
http://pmbook.ce.cmu.edu/11_Advanced_Scheduling_Techniques.html
As you will read traditional PERT computations were in mathematical error, Pertmaster is an acquired name from a product Primavera purchased, and in reality it uses the correct algorithms for a Monte Carlo Simulation.
Dear Jonathan,
You are most welcomed. Once you have covered the material, and you still have questions, i can give you the email of the trainer of this software in my local area. He is very cooperative and might assist some more. Drop me an email when you like.
With kind regards,
Samer
[email protected]
Thank you Samer,
I have just placed an order with Amazon.
Best regards
Jon
Dear Jonathan,
The software is based on the PMBOK 3rd edition. You will need to read the chapter related to the Risk process in that book. It is now considered old because a new version PMBOK 4th edition was issued last January.
I think if you search the web, you will find a source to download it or you can buy the book from Amazon or PMI for 34$.
With kind regards,
Samer
The risk analysis process is require;
1) Verify whole activities and logics those one must be realistic as most as possible.
2) Review total float to identify critical area.
3) Find-out the total work BQ and remaining BQ of each activity.
4) Calculate the working duration base on remaining BQ and productivity rate.
5) Compare the remaining duration and calculate duration as item 4.
As above express, you will see the proper duration to complete work and then you can initial analysis the project risk.
If you want to use full function, many step to do,
1) Risk Identified
2) Risk Assessment
3) Risk Avoid & Reduce
4) Risk Management