Risk analysis

Hi,

Project Life Cycle is the period starts from project inception to its disposal and the risk analysis deals with identification and analysis of risk related to different aspects involve in the project life cycle.

I hope this is useful.

regards

Dinesh

I agree with Dinesh! Risk analysis is an evaluation of the viability of the project, while Project life cycle defines the timely delivery of the Project.

Dear friends,
You all right, but in any step of project has a risk factor.
On the other hand risk analysis depend on the project cycle.

Your Comments?

WHAT ARE THE TOOLS AVAILABLE IN PRIMAVERA P3 FOR RISK ANALYSIS
ON DAY-TO-DAY BASIS OF INPUT OF RESOURCES AND PERIODICAL
( MONTHLY/QUARTERLY) RISK FACTOR AS OUTPUT AND MEASURES FOR THE RISK

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Dear all,
I think risk factor increase in end of project.
Your Comments?

Hi Mehdi,

Risk factor is normally more in the beginning of the project as lot of unknown in the begening. At the end of the project risk is almost nill as you have already completed majority of the project and you had been through all or most of the risk events.

Thanks & regards

Dinesh

Ok
Bust determin the main Risk factor is very important. In Experience show thah in end of project if there is any risk , cost of solve this risk very high.
Your comments?

Hi Mehdi

Why we needs to do risk analysis in a project? Because of risk could be cost inovlments to the project. That risk involvement should identify who is shared at what prices. Client will to make profit and need to make some investment for a return a project.

Risk shall be involved at Strategic and tactic stages in a project life cycle. I.e. Concept, brifing, sketch design, detai design and construction stages that risks shall be involed.


Breaking the project down into its strategic and tactical phases that constitute the PLC Risk Management role to play throughout of PLC. End of day client looking to the return what they expected. That why we need to do risk monitor, controlled in PLC for the cilent expectaion which is time, cost and qality of project delivery.

I agree with all, But the first step we define the meaning of the risk . as you know risk has a several parameters thah different in any countries.

Hi Mehdi

The PMI’s Project Management Book of Knowledge (2000) defines risk as

• “an uncertain event or condition that, if it occurs, has a positive or negative effect on a projects objectives”
The term ‘risk’ encourages a threat perspective, then it follows that risk management focuses on the downside and is preoccupied with minimising perceived threats. Also, risk, having quantifiable attributes (probability and event) encourages a focus on specified, identifiable events.

Hi Mehdi

The PMI’s Project Management Book of Knowledge (2000) defines risk as

• “an uncertain event or condition that, if it occurs, has a positive or negative effect on a projects objectives”
The term ‘risk’ encourages a threat perspective, then it follows that risk management focuses on the downside and is preoccupied with minimising perceived threats. Also, risk, having quantifiable attributes (probability and event) encourages a focus on specified, identifiable events.

Hi Mehdi

The PMI’s Project Management Book of Knowledge (2000) defines risk as

• “an uncertain event or condition that, if it occurs, has a positive or negative effect on a projects objectives”
The term ‘risk’ encourages a threat perspective, then it follows that risk management focuses on the downside and is preoccupied with minimising perceived threats. Also, risk, having quantifiable attributes (probability and event) encourages a focus on specified, identifiable events.

Dear sathis,
You are right.
But in the real project lifecycle we find some risk that we don’t forecast them.
Also in the PMBOK define only base line of risk factors.

Hi Mehdi
Because of most of projects which are running in gulf region and Asia does not participation of Value and risk Management at project briefing stage.
That base line need to be develop at project in PLC
Could you explaned what you mean Risk factor?

risk factor is a variable associated with an increased risk of disease or infection. Risk factors are correlational and not necessarily causal, because correlation does not imply causation. For example, being young cannot be said to cause measles, but young people are more at risk as they are less likely to have developed immunity during a previous epidemic

http://en.wikipedia.org/wiki/Risk_factor

Hi Mehdi
Thanks

Dear sathis,
I think work in asia project has a sereveral advantage.

Hi Mehdi
It is not advantage or Disadvantage. Lake of Risk management knowledge in built environment. Also some of projects have been delivered the client expectation in ASIA.
Nevertheless, In UK some of projects have not delivered the client expectation ex- The British Library (5 years delay), The Scottish Parliament Building (3.5 years delay), etc this is due to lack of risk management and others.
.

I beleive that some facror exist in asia that there is not in any other countries.
Project in Asia more Complexity and complicy.

Hi Mehdi

You might be wright beacuse ASIA included UAE,Iran,Iraq, India, Ect....As you said risk factors changes withing not to the ASIA

Hi sathis,
yes, I think all of country in Asia because cultural in this region very old and very specially.