Before the HCP Method was introduced, project risks were identified via time-consuming documentation reviews, brainstorming sessions and so forth. The HCP Deep Schedule Analysis™ report obviates the bulk of these efforts by identifying all the risks inherent in the schedule, without additional effort. (The relatively few remaining risks will consist of issues beyond the schedule itself, relating to, for example, the weather and the financial markets.)
With the results of the HCP analysis in hand, the risk management professionals will be able to formulate their risk mitigation plan in a much faster and more effective manner than was ever possible before.
The following are some real-world examples of how the report provides invaluable risk management insight in a number of different scenarios.
Use Case Examples
- Reveal hidden risks in a project schedule: An HCP Deep Schedule Analysis of the schedule for the construction of a factory – containing a total of 3702 tasks – revealed 17 tasks within four critical paths and another 182 tasks within 25 hidden critical paths (the hidden critical paths each had total durations within 40 days of the critical paths). By identifying these particular tasks, project management decided that the project was too risky to begin without making significant changes to the schedule.
- Simplify risk identification: An HCP Deep Schedule Analysis was performed on a schedule for the construction of a suspension bridge. A total of 314 hidden critical paths were found, all of which had total durations within 50 days of the critical path. When the project manager and his team reviewed the 71 tasks listed within these hidden critical paths, they discovered that the task, "Order steel cables," was found within a hidden critical path with only 26 days of float relative to the critical path! Due to the expected global steel shortage, the project's management team decided to bring forward the steel order by six months.
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