7 Reasons Acumen Risk is Better than Your Average Risk Management Tool

Posted by Megan Cacioppo on December 2, 2016

7 Reasons Acumen Risk is Better than Your Average Risk Management Tool Header Image

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

The reality? Projects rarely behave this way. Despite the best-laid plans, every project carries uncertainty and risk that all too often lead to cost and schedule overruns. Deltek Acumen Risk™ was designed to help organizations effectively account for and proactively reduce risk exposure, resulting in an accurate forecast you can rely on.

Let’s look at 7 reasons Acumen Risk outperforms the competition…

  1. It was built for you. Acumen Risk was built for the project team – not for advanced statisticians. So rather than requiring complex statistical inputs, Acumen Risk features easy-to-use and highly visual uncertainty sliders. You can quickly flag aggressive or conservative activities and assign uncertainty values to entire groups of activities with the single click of a button.
  2. It provides true insight into risk exposure. Are you tired of trying to make sense of meaningless schedule sensitivity and cruciality metrics? Acumen Risk reports the impact of risk clearly – in terms of time and money.
  3. It’s powerful and accurate, yet shockingly simple to use. Don’t be fooled by its user friendly interface. Acumen Risk still offers the power and accuracy that Acumen products are known for while analyzing thousands of activities in seconds and accounting for scope uncertainty, work complexity, risk events, and opportunities.
  4. It was built on a trusted methodology. Deltek’s approach to risk management, known as S1 // S5, is built on years of experience and has a proven track record of accurate forecasting. The S1 // S5 approach uses five levels of maturity to validate schedule quality; account for uncertainty and risk events separately; and uses optimization and acceleration to meet project completion demands and recover delays. This highly accurate approach is built directly into Acumen Risk—leading to forecasts you can actually rely on and understand.
  5. It’s integrate-able. Acumen Risk doesn’t limit you to a single scheduling option – it integrates directly with Microsoft Project, Primavera, Excel (and more) to provide full support for your projects and portfolios. It allows for both schedule risk analysis (SRA) and cost risk analysis (CRA) in a single tool, even taking into account the impact of potential schedule delays on cost risk.
  6. It supports the full risk management process. Acumen Risk allows you to factor both uncertainty and risk events into the risk model, giving you the truest insight into project completion. It also has a has a built-in and fully integrated risk register, which allows you to quickly and easily track risks, along with their scores, potential impacts and the areas of the schedule they will affect.
  7. It’s more than a risk tracking tool. Last but certainly not least, Acumen Risk is more than a risk tracking tool. It allows you to simulate the worst case scenarios so that you can decide where to focus your mitigation efforts. You can compare how schedule uncertainty alone impacts project completion or what happens when certain events actually occur, allowing you to report how likely your project is to come in on time and on budget, and identify the root-cause of any potential delays and overruns.

Sound like something you’d be interested in? Check out our short YouTube video to learn more, or sign-up for your very own free trial of Acumen Risk.