Risk Management

Risk Management Software for Professional Services

Accurate forecasting requires consideration of risk.

Accurate project scheduling and realistic cost forecasting can be the difference between being a project hero and being responsible for project failure. While scheduling and forecasting tools give you a great foundation, you are still making the strong assumption that your scope is 100% accurate and that, regardless of what happens during execution, the project will finish on time.

In reality projects don’t behave this way. Despite the best-laid plans, every project carries uncertainty and risk that all too often lead to cost and schedule overruns.

By determining the realism of activity durations in the schedule (uncertainty) and combining this with identified risk events (from the risk register) analysis can be executed to pinpoint not only where your biggest risk exposure lies, but also when in your project it’s most likely to occur.

Establishing the cause of cost and schedule risk in your project gives you a roadmap for establishing a risk reduction plan (through mitigation) making your risk management effort a proactive risk reduction solution rather than just an exercise in shining the spotlight on bad news.

Deltek’s risk analysis solution, Deltek Acumen Risk, gives you the ability to:

  • Improve project completion confidence by identifying and accounting for scope uncertainty and potential threats to on-time completion — making your project forecast as accurate as possible.
  • Reduce risk exposure with quick comparison and evaluation of mitigation strategies.
  • Identify and define a clear path for navigating towards a successful on-time completion by easily pinpointing the highest risk areas or the project.