Track and report on risks all within e-Builder®!
Quantitative Risk Analysis:
During these uncertain times, risk analysis processes are incredibly valuable tools for Owners to analyze potential project risks, develop mitigation strategies and achieve the desired project objectives. One of the most commonly used methods for this is the Quantitative Risk Analysis.
This process is typically owned by your Risk Management team, with participation by the Project Team and other business stakeholders as appropriate.
- Risk is reported by a member of your staff, project team, or an external project participant
- Risk is triaged and a preliminary assessment is completed, this is usually done by the core Project Team
- This happens at several levels of the organization, depending on the severity or likelihood of a risk.
- The review process may end with the Project Manager or may be escalated to Risk or even Executive level as appropriate.
- Remember, Review Comments can be requested from non-eBuilder users, if necessary
- The Risk is ranked amongst other program risks; statistical tests such as TOPSIS, JRAP, or Monte Carlo analyses may be performed during this phase
- Stakeholders will decide on mitigation strategies which might include a workaround, transferring the risk, or accepting it. Some of which may require a risk response plan.
Risk Program Updates
- The program is updated with this information along with the mitigation strategy and potential ways of handling risks in the future.
Bonus! This same process can be easily adapted to manage Job Site Hazards or OSHA risks and can be made public for Subcontractor (or even anonymous) reporting, if necessary.
Extra Bonus! Apply the same concept to make high-level decisions with valuable insight from multiple decision-makers.
Watch the full training video here! https://youtu.be/bN7IrQ41qvw
Live from YouTube, it’s Avicado remote trainings!
In case you missed our latest remote trainings, click the links below to catch up!
This training covers:
- Owner Level Schedule
- Set-up Owner Schedule
- Report Owner Schedule
Watch here https://youtu.be/Kf1pAhsXZvk
How to automate e-Builder® processes
This training covers:
- Data Field Assignments
- Mail Merges
- Process Escalations
Watch here https://youtu.be/vcYHvovzxaY
Keep up the great work Warren! We appreciate all you do and your commitment to improving our client’s experience with e-Builder™.
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View Cash Flow in Planning Module:
Double click on the blue line to view that project’s cash flow.
In the workflow properties, use the “Set ‘Request Comment’ Default Subject” checkbox to make sure subjects remain consistent when requesting comments for internal & external users.
Avicado Toast from e-Builder® Experts