S3 // Risk Tab

Acumen Risk is an advanced risk analysis tool for managing both cost and schedule risk exposure within a project (or multiple projects). It can work either alongside, or apart from, Acumen Fuse and Acumen 360.

Acumen Risk incorporates utilities such as Monte-Carlo simulation and an integrated project risk register, together with risk approaches such as Uncertainty Factors and Risk Contribution reporting.

Acumen Risk is designed for planners, schedulers, risk analysts, and risk workshop facilitators. It is created for ease of use with meaningful reporting that doesn't rely upon complex statistical interpretation. That is, it is designed for project teams wanting to determine their cost and schedule risk exposure together with establishing a sound plan for risk exposure reduction.

As part of the Acumen platform, all common platform capabilities, such as importing from multiple scheduling tools and running forensics, are included in Acumen Risk.

You can use the S3 // Risk tab to (among other things):
  • View, assign, import, and export uncertainty values.
  • View, import, and export risk registers.
  • Perform cost and schedule risk analysis.
  • Determine the most common critical paths.
  • Report, publish, and print risk results.

Platforms Supported for Risk Analysis

The following platforms are supported for use with Acumen's Risk Analysis:

  • Microsoft Project Professional
  • Microsoft Project Server
  • Primavera P6 Web
  • Primavera P6 XER
  • Primavera P6 XML
  • Phoenix Project Manager
  • Open Plan
  • Open Plan BK3 (backup file)
  • UN/CEFACT
  • Safran Project

If you import a project from any other platform, you will not see the project on the S3 // Risk tab.

Related Topics:

  • S3 // Risk Tab Procedures
    Use these procedures when working with the S3 // Risk tab.
  • Ribbon Commands on the S3 // Risk Tab
    Use the ribbon commands to manage cost and schedule risk exposure within a project.
  • Activity Details Pane
    Use the Activity Details pane tabs to view and edit project, activity, and WBS information.
  • Filtering the Activity Grid Data
    The Activity grid includes a filter row just below the Activity grid header.
  • How Does Risk Perform a Cost/Duration Allocation?
    Acumen Risk performs the cost/duration allocation by spreading it proportionally on the assigned activities, depending on their remaining duration.
  • Hierarchical Codes
    By default, activities are grouped by WBS. For Primavera, Open Plan, and MSP projects, Acumen allows you to import and report on multiple hierarchical codes.
  • Importing and Filtering Cost/Schedule Files
    You can conduct a risk analysis on both projects and snapshots within Acumen Risk.
  • Uncertainty (Risk) Inputs
    For activities that are in progress or have not yet started, when you run a risk analysis, Acumen calculates a range of uncertainty values for each activity.
  • Risk Exposure
    Use the risk exposure histogram to view risk exposure. It is driven by the activity or summary that you select in the activity panel.
  • Risk Drivers
    Use the Risk Drivers chart to display the key drivers within a risk model.
  • Risk Sensitivity
    You can use the Risk Sensitivity™ chart to evaluate the relationship between durations and/or costs by creating a scatter chart showing their interaction.
  • Critical Schedule Drivers
    When you run risk analysis and include uncertainties and risk events, each simulation may have a different critical path.
  • Risk Register (Risk Events)
    Risk events are discrete events (threats or opportunities) that carry both a probability and a potential cost/schedule impact to the project. They are typically captured and modeled in a risk register.
  • Multiple Scenario Risk Models
    You can create a copy of a risk model, enabling you to run what if… analysis using different settings such as different scenario analysis options.
  • Risk-Adjusted Schedule
    You can generate scenarios based on risk inputs and outputs.
  • Cost Risk Analysis
    You can create a new cost estimate directly within Acumen Risk in order to perform a cost risk analysis.
  • Link Cost and Schedule Risk Models
    Acumen Risk provides a fast and effective means of linking cost and schedule risk models together.
  • Analyze Risk Results Using Forensics and Metrics
    Use the Acumen Forensic analyzer to compare alternate scenarios built during a risk analysis.
  • Reporting Risk Results
    Use the S3 // Risk tab Import / Publish menu group to publish or export results in a variety of formats. This allows you to customize based on your audience or future analysis needs.
Related Concepts