How to Manage Risk in Primavera P6 Professional

Out of all of your responsibilities as a project manager, you take on the level of importance of managing risk. Fortunately, you can effectively manage risk in Primavera P6 Professional by understanding how to create lists, assign them to specific activities, and respond to such risks.

Dozens of programs for risk management exist, but the tools within Primavera P6 Professional can be key in determining the best strategy to approach your risks. However, you need to know how to use them to the best of your ability.

How to Create Risks in Primavera P6 Professional

before creating risks, you must ensure that you have the privileges to edit or add rests with your company. Addressed by selecting on the appropriate project and clicking on “Risks.” You believe in the ass to fill out all the appropriate information in the “General” tab. In the “Risk Details,” select “Impact.”  

This field is where you put in the potential profitability, impact range, probability of the restroom, and the monetary impact of the potential risk. Also, you can copy rest from existing projects and apply them to new project or activities. However, the activity associations and resources for the chosen risk are not copied when copying the risk.

How to Assign a Risk

Open the “Risk Details” page.  Check the appropriate risk, and click on the “Activities” tab. You can then apply the risk to one or more activities. Hold down the “Ctrl” key when selecting activities to apply the rest to multiple activity. You may also apply a risk to an activity in the “Activity Details” page by opening the activity, clicking the “Risks” tab, and clicking on “Assign.”

How Does Primavera P6 Professional Determine Risk Score?

Primavera P6 Professional calculates risk score by analyzing the factors you entered in the “Impact” dialogue when creating a risk.  Primavera P6 Professional assigns a score, which ranges from impact negligible to impact very high, for each of these factors.

When viewing the risk score, you can make a judgement call on how and when you should respond to the rest. You may select a response, or add a response description. You may also opt to avoid, accept, transfer, or reduce the risk manually.

How to Create a Risk Response in Primavera P6 Professional

Recall the previous discussion on entering “Risk Details” on the “Impact” tab. Scroll down to view the “Response” section of the “Impact” tab. Define the appropriate value for each response time, and create a description of your plan response. Scroll down to the “Post-Response” section, change the probability, schedule, and cost lists to reflect how your response will change.in the same time, you’ll be able to show the wrist calculation for each of the varying f actor changes.

Risk analysis and risk management should not be thought of as an “off-limits” capability in Primavera P6 Professional.  By understanding how to create, review, and respond to risk in this program, you can effectively manage risk for your project.

Key Things to Remember

• Add risks in Primavera P6 Professional in the “Risks” tab.  
• Risks may be to find out to one or more activities, or you can add a risk directly from the “Activity” page.
• Create risk responses in the “Impact” tab, and review how the response affects the value of your “Risk Score.”