This course is provided in partnership with MICE Global of Singapore whose trainers are highly experienced experts in their field.
This course describes in detail the capabilities of the Primavera Risk Analysis (PRA or Pertmaster) software that has been developed by Pertmaster, bought by Primavera and subsequently acquired by Oracle. This software is highly sophisticated with features such as probabilistic branching, probabilistic calendars and integrated cost-schedule risk analysis. It facilitates the use of the project schedule and Monte Carlo to develop a list of risks prioritized by cost and a schedule for a focused risk mitigation exercise. The software has been the gold standard in schedule-oriented Monte Carlo simulation for the last 15 years.
This course is a detailed, step-by-step keystroke course for PRA. It starts at the simplest level, from importing the schedule and applying uncertainty ranges, to the more advanced capabilities. The course features uncertainty application and analysis as well as two capabilities for applying specific risk events, Risk Register (impacts in days and dollars) and the newer Risk Drivers method (impacts in multiplicative terms for days and dollars). Risk Drivers is more suitable for applying strategic risks to multiple activities such as all the detailed activities that describe construction.
PRA is capable of performing integrated cost-schedule risk analysis that is the basis of the Joint Confidence Level (JCL) analysis according to NASA policy. Dr. Hulett, who created this course and delivers it has written a book describing this method “Integrated Cost-Schedule Risk Analysis” (Gower 2011)