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Risk and How Primavera calculates - Risks

1 reply [Last post]
Tue, 2010-04-06 11:03
Haresh Jayanth
User offline. Last seen 6 years 9 weeks ago. Offline
Joined: 24 Aug 2006
Posts: 219
Groups: Building Information Modelling, GPC Qatar
I have applied some risks to certain WBS and shown its impact in terms of material units and expenses and given probability of impact during creating a baseline program....

But i don’t have any idea, how can i manage all the risks events at the time of updating a project....If my assumption of certain risk probability differs or doesn’t occur how to manage risk events at the time of update.

How can i generate reports regarding planned cost of probability of impact vs Actual cost........
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Tue, 2010-04-06 20:49
#1
Rodel Marasigan
User offline. Last seen 1 day 8 hours ago. Offline
Joined: 25 Oct 2006
Posts: 1699
Groups: Petro-Chem / Oil & Gas
Haresh,
Primavera Risk Module is a separate table in Primavera database and will not change or affect the current Project. It just gives information of the impact if the risk occurs. You can always change the identified Date of Exposure when Risk is going to happen and it calculates only on non-complete activities ignoring the completed, milestones and lock activities. Primavera Risk calculate on duration (number of units of resource affected by the risk defend on Unit of time settings) * probability = exposure using top down estimation method. (Estimated weight, risk apportions impact first among WBS elements, then among each WBS elements’ activities).
For example, if the estimated impact is 100 hours and there are four, level two WBS elements, each with an estimated weight of 1, the impact is apportioned equally among the four elements. Each WBS element would be apportioned 25 impact hours. However, if WBS1 is weighted at 2 and the other three WBS elements are weighted at 1, WBS1 would be apportioned 40 impact hours and each of the other three WBS elements would be apportioned 20 hours. Once the impact has been apportioned among the WBS elements, the impact total for each WBS element is apportioned among its activities using the same methodology and the activity step weights.
To calculate a risk’s impact, you must first determine a risk’s exposure values in the Project Risk Details Impact tab.
Risk

When all done click green button icon on the right to calculate impact.

Sample impact result:
Risk Result
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