Primavera Risk Analysis (PRA or Pertmaster) Schedule and Cost Risk Analysis Software Training

June 24, 2021

This course is provided in partnership with MICE Global of Singapore whose trainers are highly experienced experts in their field.

Introduction

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)

Benefits

  • experienced practitioner, having used PRA on many large oil and gas and civil construction projects over the last decade
  • Learning why PRA has been the gold standard Monte Carlo simulation product that is powerful, fast and full of features that are described and taught in the course. The delegates will get many opportunities during the class to practice using PRA
  • Understand the importance of integrating cost and schedule risk analysis, driving the cost of labour-type resources by both variations of their durations and by uncertain daily “burn rates” that can be affected by uncertainty risk drivers

Course Details

Course Duration: 3 Days

Assessment: N/A

Attendance: 100% attendance is required

Entry Requirements: There are no formal entry requirements

Accreditation: Internal & MICE Global