The Project Risk Analysis program enables the capital risks on projects to be evaluated, and calculates the financial contingency required to cover those risks in a rational and defendable manner. Too often the project contingency is guesstimated as a "gut feel" amount, without much consideration for the real risks involved. The procedure followed in PRA encourages disciplined estimating, and calculates the required contingency using the proven statistical method known as Monte Carlo Simulation. Although PRA uses sophisticated statistical techniques, it has been written for project professionals who are more at home with estimating and costing than with statistics. All the statistical models and distributions required have been specifically set up for contingency analysis and no knowledge of statistics is required. A tutorial on using statistical distributions and the Monte Carlo Method in capital cost estimating is included in the built-in help file for those who like to know what is going on under the hood. The cost estimate can be imported from a spreadsheet with a simple Copy and Paste, or it can be manually entered and edited within the program itself. The results calculated by PRA can be displayed in easy-to-read graphical formats that quickly and effectively give the estimator an overall appreciation of the risks. These graphs are also ideal as support documentation for presentations to senior management in the justification of requests for contingency funds. The results are also available in detailed tabular format. The extreme speed of analysis allows you to carry out your risk analysis in real time. A full Monte Carlo analysis with 100,000 iterations will typically take less than 5 seconds. Apart from the graphical and tabular reports generated by the program, you can export the reports in a variety of formats to suit spreadsheets, text documents and graphical editors. The raw data can also be exported for further processing or report generation in other applications. Exported data can be saved as files, or via the clipboard for pasting directly into other applications.
Katmar Project Risk Analysis v3.0
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