PROJECT RISK MANAGEMENT

Project Risk Management Simulation Software

Project Risk Management Simulation Software Tools Research

Risk Management In Construction Project Management

The monitoring of risks is the continuous operative control of the effectiveness of the risk control measures. The goal of risk management is not to eliminate risks completely from the project. The monitoring of the risk helps guarantee that the risk position of the project corresponds to the risk situation strived for. This task is supported instrumentally through analyses of variances. The internal control system is part of the monitoring of the risk. The continuous monitoring of the early indicators and the repeated risk verification are carried out by the persons responsible in each case, no later than the respective milestone deadlines. A precondition for this is that a reporting and meeting structure in the organization and for the project is stipulated. Besides the pursuit of the risk status and the progress of the measures, new additional risks must be included. Risks that have occurred must be documented with the relevant amount of damage or loss; critical situations of the managerial staff must be reported (Allhoff, 2008).

Risk Management Tools

SaS

This is a robust service that has long been considered an industry standard. SaS for this project can provide risk management assistance for several sectors. The major Pros of this software includes:

Integrated, comprehensive data management.

User-friendly, self-service reporting.

Cons of this software are:

Risks associated with inaccurate estimating and schedule planning

Risks associated with incorrect and optimistic status reporting

Risks associated with external pressures, which damage software projects.

IBM

This highly intuitive and wide ranging software program by IBM is based on the Cognos business intelligence model. This is a highly interactive system, and includes several monitoring platforms, and allows users to see risk from a variety of different perspectives. One of the things that people like the most about this particular risk management software is that it is virtually a snap to set up and get going. For our project this software can be of great help as portfolio of security, risk and compliance management software, hardware and services meet the challenges of securing a dynamic infrastructure. Its Pros include:

Managing Risk by developing and managing a secure infrastructure that allows organizations to support business change

Improving Service by delivering superior business and IT services with agility and speed and preventing outages.

Some of the cons of this software are:

Using egoless programming

Clean room techniques

Modular software architectures

Encapsulation

Good configuration management

Symbiant

Symbiant risk suite is a leading provider of risk management software for many reasons. They have long been a leader in the field, and as a result of many risk management software comparison strategies, they have consistently come out on top.

Symbiant Risk Suite for our project simply gives us everything wee need to identify and assess risks, manage and test controls, assess the business and procedures and give ownership of actions and track to completion. It also includes a comprehensive flexible reporting suite that includes all standard reports and a custom report builder.

Methodware

This unique tool allows users to integrate all aspects of risk management, including ...