InsideOmegaUncertainty Management
The PIMS Uncertainty Management module is a tool for uncertainty management in projects. The flexibility of the module makes it applicable for use in all types of development projects.
Effective use of this tool gives a positive contribution to value creation in a project, by reducing risk exposure and enhancing opportunities. It will improve the chances of project success and will help your project to identify, categorise, and track risks throughout the project lifecycle.
Uncertainty elements are defined by probabilities for risk events or opportunities, potential consequences for these events and the corrective actions that shall be executed to manage the uncertainties in the best way possible. The objective of uncertainty management is to optimise project performance related to the project.
The module gives an easy overview of the three primary attributes of risk that should be identified and tracked. Areas of potential risk, probability of risk occurring and impact the risk could have on the project if it occurs.
The combination of probability and impact creates a “risk score” that can be used in the decision making process and as a project control mechanism. The module includes many reports that assist your project in evaluating risks. A good example is the “Risk Matrix” report.
The default module supports the following attributes: Sub-project, phase, source area, deadline, affected areas, status, sub-project top ten, project top ten and responsibility. For each uncertainty element you can also define risk and opportunity figures like probability, consequence and manageability. The module supports uploading of attachments to each element.
The module has an action register based on Omega’s TeamDocuments module where actions can be added for each uncertainty element with responsible, assigned to, status, priority, progress, workload and due, start and finish dates. It also supports tight integration with Omega’s Supervision module.
By using this module, your project will get a hierarchical structure with uncertainty areas as the supreme level, holding all the information located under different tabs. The module gives you the possibility of creating your own Top Ten list of uncertainties.
Key features
- Flexibility to organise the module to meet individual project needs
- Updated and accurate compilation of risks for evaluation and decision making
- Incorporates sound risk principles and processes into day-to-day work activities
- Shows and monitors an overview of uncertainties uncovered in multiple report formats