EPM5700 Project Risk Management: A Software Evaluation Report

This report focuses on project risk management and evaluates several software solutions designed to identify, analyze, and respond to project risks. It highlights the importance of risk management in ensuring projects stay on track and meet their goals. The report lists and compares ten different software options, including nTask, Resolver, and TimeCamp, detailing their features and benefits. It emphasizes that nTask offers proficient risk reporting, easy visibility, and risk matrix preparation, while Resolver excels in incident management and prioritization, and TimeCamp helps in determining financial risk. The recommendation leans towards Resolver as the best software due to its rapid risk resolution capabilities and effective risk response management. The report concludes by noting that using such software allows projects to return to their normal state quickly after a risk is resolved, enhancing overall project management effectiveness. Desklib offers a range of similar solved assignments for students.

PROJECT RISK
MANAGEMENT

Project risk management
 Risk management serves the same purpose for
every project but it means different things in
various types of projects.
 On various projects that are large scale in nature,
strategies to risk management could mean
simple and prioritized list of medium, high as well
as risks of low priority.
 There are various practical measures that could
be applied to the management of risks in the
midst of the project. It is crucial to start over with
a clean as well as definition in a precise manner
of what the project had been tasked for delivery.

Project risk management
 Project risk management is a particular
process that, which identifies, analyzes and
responds to any sort of risk which arises in
the life cycle of a particular project for
helping the project to stay on track.
 This helps in meeting the goals of a
specific project. risk management is
supposed to be a part of the planning
process in order to find out risks which
might take place in the project and the way
by which the risk could be controlled.

10 softwares used for project
risk management
 nTask
 Resolver
 TimeCamp

10 softwares used for project
risk management
 Integrum
 Qualys
 CURA

10 softwares used for project
risk management
 Blueprint OneWorld
 ADAudit Plus
 Diligent Boards
 Optimal SmartStart

 nTask
 Resolver
 TimeCamp

Comparison of these softwares
 nTask provides with benefits like reporting
proficient risk, easy visibility, determining the
risk impact and preparing a risk matrix, these
benefits re nit usually provided by other
softwares.
 Resolver helps by providing various unique
benefits that are not provided by other
softwares like preparing an effective assessment
and carrying out incident management
 TimeCamp helps in demining financial risk as
well. financial risk is not detected by any other
software.

Comparison of these softwares
 nTask help in determining the impacts of
the risk, other softwares helps in detecting
the risk but they do not help in determining
the impacts of risks.
 Resolver help in prioritizing which is not
usually supported by other software, this
helps in determining which risk should be
treated first.
 TimeCamp helps in curbing project failure
which helps in carrying out risk
management in an effective manner.

Recommendation of the best
software
 The best software that can be used by
the projects is resolver.
 This is considered as the best because it
helps in carrying out incident
management.
 It also helps in prioritizing the risks and
solve them in an effective manner.

Recommendation of the best
software
 Resolver helps in providing rapid risk
resolver.
 Projects can get back to their normal
state and continue after the risk is
resolved.
 It also helps in carrying out a risk
response management.