PMA Releases a New Version of NetRisk, Schedule Risk Management Software
November 18, 2019
PMA, a leading provider of innovative project management and construction industry software applications, announced today a new schedule risk management software, NetRisk 2.0. This Monte Carlo-based risk-analysis tool is essential for simulating CPM and GPM schedules.
Completely redesigned and rewritten, NetRisk 2.0 offers specialized functionality in a single application. Developed in collaboration with industry-leading risk-management professionals, NetRisk offers a unique feature-set unmatched by alternative products including:
Define qualitative probabilities and impacts, prioritize by risk ratings, enter mitigation strategies, and record responses and comments, all in a single view directly within NetRisk.
In NetRisk, a risk’s probability of occurrence can be un-correlated amongst the activities to which it has been assigned – and in fact, it can even be different. This approach is more realistic for a risk response that affects activities scheduled years apart or at different project sites.
Overlay calendars on top of activities for modeling probabilistic weather, hurricanes, shutdowns, or other non-working windows, and view their impacts together with risk sensitivity results.
Thanks to automated risk sensitivity analysis, NetRisk re-runs the entire simulation, each time removing the risk with the biggest impact. The result is a tornado chart showing the exact impact in days that each risk has on the project completion.
By scheduling activities on early starts in every iteration, CPM risk analysis does not account for the impact of float use on project completion and therefore overestimates the probability of completion. With NetRisk, activities off the critical path can be started later to model resource leveling, progress pacing, or other strategic reasons, resulting in a more realistic model.
By offering the fundamentals you need, NetRisk 2.0 helps you avoid preventable project delays and subsequent cost increases.
Since its commercial release in 2008, NetPoint has proven an invaluable tool to a variety of leaders in the project controls and construction industries. PMA Technologies continues to develop innovative ideas into practical solutions that practitioners are using to inspire transparent, effective, and collaborative planning and scheduling.
Visit the NetRisk 2.0 page to learn more.