Construction & Infrastructure

Minimise the project delays that impact your bottom line

In a recent survey of companies with capital infrastructure projects in excess of $100million, 84% had experienced delays in some of their projects. A third of these companies reported delays in more than half of their projects. Such delays not only directly hit the bottom line of both clients and contractors, but also have a detrimental reputational effect.

For too long, organisations have relied on individual project risk registers held on single user, complicated spreadsheets and perhaps separate tools for cost and schedule risk and uncertainty analysis. The Predict! risk management software suite is unique in providing a tightly integrated combination of a multi-user web accessible central risk and action management database and a full function Monte Carlo analysis engine.

How it works

Predict! Risk Analyser imports the desired risk and schedule information from Predict! Risk Controller and automatically builds a model for analysis. This is far quicker and less error prone than copying risk information from standalone spreadsheets, or even risk databases, into external risk analysis tools and having to build your own model.

The Predict! Risk Analyser model and the imported data are fully available for examination and modification. This gives risk analysts the highest level of confidence in and understanding of both cost and schedule risk provision, and also allows for ‘what if’ analysis without compromising the approved risk information in the central database.

“Since we started implementing Predict! to manage risks during the project delivery phase, our gross margins have increased by around 2%”

Paul Pring - Director, Infrastructure (Rail) at Babcock International's Network Engineering Business Unit.

Predict! supports proactive risk management at every stage of major capital projects and programmes, enabling organisations to gain competitive advantage.

 

Bid stage

o   Understand cost and schedule confidences to make informed “bid / no bid” decisions.

Contract negotiations

o   Predict!’s integrated risk analysis capabilities allows for ‘what if’ scenario analysis to show the client the cost and schedule impact of modifying or removing specific risks.

o   Using an end to end risk management system will give the client confidence that project delivery will be on time and to cost – improving your chances of winning.

Project delivery

o   Predict! enables all of the risks and mitigation actions identified when bidding to be seamlessly passed across to the delivery team. No longer will misunderstood spreadsheets get passed across (or not).

o   The multi access Predict! database allows everyone to see and maintain the risks and actions that are important to them, at anytime. Risk management becomes a day to day activity, not a panic driven activity with everyone trying to update a single spreadsheet in time for the monthly report.

o   The integrated Monte Carlo schedule analysis engine automatically builds models that enable you to keep track of cost and schedule confidences as the project progresses. ‘What if’ analysis allows the impact of mitigating risks, or changing activity durations to be rapidly visualised, so that the most import actions are performed to ensure on-time delivery.

We wanted a solution that offeref a risk maangement database and integrated Monte Carlo simulation for cost and schedule analysis. We also wanted a project focussed solution as we knew that interface and usability were essential for successful risk management. We went to tender and chose Predict!.

Per Akesson, Project manager, Femern

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