The next in the series of our A-Z of product features and benefits is R for Risk and we switch from asset management to Otoni Programme Intelligence, our programme management software, specifically the importance of the risk tools it contains.
Some of the features of PI Risk include.
Ø Aggregated Risk
The risk system can be configured to align with your internal risk hierarchy.
Ø Risk Identification
This tool enables you to conduct virtual risk identification workshops, and it can automatically populate risk registers with the data collected.
Ø Risk Forecasting
The system automatically highlights variances between the risk budget and risk forecast. It also predicts the risk expenditure profile by integrating with schedule data.
Ø Integrated Controls
The system interfaces with various control data points to provide a real-time view of the project status.
Ø Risk Data Integrity
The system includes configurable compliance checks during data population, ensuring ongoing monitoring throughout the process.
Ø Proactive Mitigation
Specific quality checks are in place to emphasize proactive risk management, along with quality assessments of incomplete mitigation data sets.
Ø Risk Quantification
Within the risk register area, you can quantitatively assess risks based on cost and time. The system is configured to run Monte Carlo simulations for this purpose.
Ø Risk Reporting
Numerous built-in risk reports allow for real-time visibility of data at any level of the risk hierarchy.
Ø Collaborative Tool
The system can be used by both Client and Contractor simultaneously, with user access determining certain restrictions
This suite of features allows you to at a Glance
· Schedule and cost confidences show your current risk position, supporting decision making. See immediately where to focus.
· Pinpoint the drivers, identifying uncertainty hot spots, key risks and opportunities driving the schedule and budget. You can deep dive into the data to discover the answers you need.
· Create options by playing what-if to work out the best ways to manage risks and exploit opportunities, making smarter scenario-based risk decisions about the route to take.
· Calculate the cost benefit and build a business case for proactive expenditure. Putting you ahead of the game, so you can return the contingency budget to the margin.
· Stay on track by measuring performance and trends against KPIs and adjusting your course to achieve your objectives.
· Involve your decision-makers in reviewing the picture live. Capture results quickly and easily, to set timescale and budget, and measure progress.
With all these features and your fingertips, if you are involved in programme management, can you take the Risk of not utlising Programme Intelligence?
