You’ll have an objective view of required contingency to account for cost and schedule uncertainty as well as analyzing the cost effectiveness of risk response plans. These combined form the basis of a ‘risk adjusted schedule' which today is becoming the norm within the planning and scheduling process.
- Decision to bid for a project
By combining cost and schedule information in one place, you can create estimates for all the activities on the schedule. PertMaster will report the results in the form of a histogram, showing you the best and worst case scenario for the project finish date as well as the chances of achieving the deterministic finish date. With all these information on hand, you are now able to make a better decision on whether to move ahead with a bid for a project
- Understanding a task or event’s contribution to project uncertainty
An interactive tornado chart will enable you to identify key risk drivers and determine the impact of that particular risk on the project. This enables more intelligent risk mitigation planning and negotiation, creating confidence on overall project delivery timelines.
- Probabilistic Cashflow
By modeling project cashflows that include risks and uncertainties that are linked to schedule, you can calculate and see the deterministic cost and finish plotted on the cashflow graph. This will improve decision making on project forecasting and budgeting.
- Easy and quick risk analysis
PertMaster allows uncertainty risk distributions to be assigned to tasks based on a template approach. These templates overcome the common challenge of modeling task uncertainty, creating an easy-to-use and quick risk analysis tool.
