Risk Register – Doodle

Risk Register – Doodle , a visual illustration in an easy way! My post related to Risk Register template was viewed by 30,000 people and more than 15,000 people have downloaded the template. I have made this doodle to describe the simple steps required to capture information in the risk register. https://youtu.be/6pUvkNm8-Hs

Risk Management with Mind Maps

It was a great interactive risk management process walk through with real examples. Discussed: 1- Risk Management plan along with its components 2- Risk Identification. Using sticky notes digitally. 3- Qualitative Risk Analysis. Discussed in details Risk Matrix and who aligned it with Enterprise Risk Management. 4- Quantitative Risk Analysis. Discussed schedule, schedule audit, cost […]

Integrated Cost and Schedule Risk Analysis (IRA)

Summary In Oil & Gas industry projects are always complex whether onshore or offshore. Remote locations, site access, communities, resources constraints and long lead items (LLI), etc. can be challenging to execute the project. Performed schedule and cost risk analysis with uncertainty using Montecarlo simulation for Condensate Process and Storage Facility Project. Even developing schedule […]

Quantitative Cost and schedule Risk (QCRA, QSRA) Modelling of Weather event.

Introduction Tough, rigid, and uncertain conditions ground and environmental conditions in a remote location can be treacherous. Weather calamity can be a known-unknown or unknown – unknown event with huge impact. Generally, quantitative cost & schedule and Cost (QSRA & QCRA) model are developed for catastrophic events like Hurricane, Tornado and flood etc. Case Study […]

Digital Risk Analysis using Monte Carlo Simulation using Monte Carlo Simulation (MCS)

Questions: What is Digital Risk Management? Why Schedule for Agile environment? How Monte Carlos Simulation will help to answer the question and concerns of key stakeholders. Digital World: Digital electronics provides the basis for fourth industrial revolution or second (2nd) machine age. It is evolving and following “Morse Law” and expanding exponentially. Computing power is also growing substantially to provide support in planning, […]

SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY

SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY Keywords: Schedule, Critical Path (CP), Milestone, Deterministic Value, 3-Point estimates, Monte Carlo Simulation, Correlation, Iteration, Cumulative Frequency Chart, Probabilistic Branching, Distribution, Triangular Distribution, Categories, Duration, Finish Date, Uncertainty, Skewness, Positively Skewed, Negatively Skewed. Summary: A schedule risk analysis (SRA) uses a risk-based project schedule (derived from the master […]