Project risk management software

More informed decision-making

Up to 21% more successful with risk assessment best-practices

Up to 35% more cost-successful

Source:

Project risk management software dashboard with a cost range table, contingency estimates, and estimates summary based on probability

Defining project-specific risks and response strategies

In our project risk management software, we include contingencies in our estimates to cover potential risks in your projects. It’s understood that unforeseen events can occur that may not be anticipated when the initial estimate is prepared. Generally, the less information is available (as often seen with high-level estimates), the higher the contingency that should be included to ensure project resilience.

However, contingency is not just a number, but rather a range that reveals how much risk a company is willing to take to experience a cost or schedule overrun. This is different for each type of company with an owner aiming for e.g., P50 contingency, but a contractor could be focusing on having an P85 contingency. All risks and quantifications will be shown, but it is up to you to decide on the risk you’re willing to take.

Systemic risk management

Systemic risks within an organization or team, affect the eventual outcome of the project. Examples of systemic risks include poor contract management, inexperienced project managers, weak systems, and lack of competencies. Overall, systemic risks are a major challenge in the early project phases, due to the lack of project maturity. Later on this risk will reduce, since more project information becomes available. With our project risk management software, you can carefully analyze systemic risks, ensuring that all risks are addressed and managed effectively.

Request a demo

Complexity/stress factors table showing systemic risks, indicators, project-specific risks, and overall evaluation

Seamless integration with project controls

Cleopatra seamlessly integrates with other software platforms and external tools such as Primavera P6 and ValidRisk. Specific risk percentages can be derived from programs like @Risk or Crystal Ball for project-specific risks, whereas we collaborate with ValidRisk on total Project Risk Quantification according to the Recommended Practices from the AACEi. Integrations can be configured for these solutions, and a dedicated connector was created for ValidRisk.

Within Cleopatra, project risk management is an integral part of your project decision-making due to cost and schedule integration. As a result, there is a solid basis to commence the project and to be prepared for all risks that lie ahead.

Feature Highlights

All our solutions come with their own unique features. This one does too! Explore a brief summary of some of them.

Total project risk quantification

Allocation of time and/or money to address identified project risks

Seamless integration with other tools

Holistic and integrated approach to project risk management

What our customers are saying

"Cleopatra Enterprise is a very flexible tool, and it can be configured by users according to the project cost management tasks on any type of project. Moreover, the Cleopatra Team is very innovative and professional, and they stand above the rest in cost engineering knowledge"

"On behalf of the ITER Organization, we used Cleopatra Enterprise to estimate the assembly and installation costs of over 20 of the project’s core systems. The result of our collaboration was a large set of very well structured estimate reports, each containing the estimate methodology, estimate basis, allowances, labor rates, productivity & cost factors, indirect costs, exclusions, contingency and escalation."