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The Benefits of Risk Assessment for Projects, Portfolios, and Businesses

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Executive Summary

Assessing risk at the project, portfolio, and business levels helps understand risk, make better decisions, negotiate fair contracts, create risk mitigation scenarios, and improve teamwork. This white paper shows how risk assessments lead to accurate plans that are less likely to lead to budget overruns or delays. Primavera Risk Analysis provides a comprehensive means of determining confidence levels for project success, together with quick and easy techniques for determining contingency and risk response plans. It provides an objective view of required contingency to account for cost and schedule uncertainty. In addition, it can analyze the cost effectiveness of risk response plans. Combined, these form the basis of a risk-adjusted schedule, which is becoming the norm within the planning and scheduling process.

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