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Knowledge Based Risk
 
Knowledge Based Risk

In knowledge representation, an information system consists of three components: human, technology, organization. In this view, information is defined in terms of the three levels of semiotics. Data which can be automatically processed by the application system corresponds to the syntax-level. In the context of an individual who interprets the data they become information, which correspond to the semantic-level. Information becomes knowledge when an individual knows (understands) and evaluates the information (e.g., for a specific task). This corresponds to the pragmatic-level.

The biggest asset of companies today, is their information, represented in people, experience, know-how, innovations (patents, copyrights, trade secrets), and for a market operator to be able to compete, he/she must have a strong information infrastructure, at the heart of which, lies the information technology infrastructure. Thus, the study of information systems focuses on why and how technology can be put into best use to serve the information flow within an organization.

Cost and Schedule - To minimize cost and schedule risks C-BRAT™ Project offers three methods to estimate cost and duration of a project even prior to detailed scheduling. The first method allows the scheduler to estimate each task's cost and duration with upper and lower limits using his experience base. The second method automates this process by reducing data entry effort. This method also allows the user to use his experience base but allows the user to globally set upper and lower bounds for the duration and cost of a set of tasks.

Preliminary Task Detail

The third method allows the estimator to use corporate history for similar tasks to estimate the task's schedule and cost with a desired confidence band. C-BRAT™ Project provides an adaptive learning environment for task history database. This data base is kept updated as the use of C-BRAT™ Project grows across various projects.

History

These techniques allow for better cost and schedule estimation allowing user to accept the desired level of risk. C-BRAT™ Project identifies the risk money allocation required for each project managed by
C-BRAT™ Project.

Lessons Learned - C-BRAT™ Project provides a set of lessons learned that are attached with the task templates. The lessons learned database has been well researched utilizing various industry and military programs and manuals. In an event when the task templates are not used and user inputs a task lists, C-BRAT™ Project provides a default set of lesson learned issues. Regardless of the method used to generate the task sequence for your project C-BRAT™ Project's lessons learned database is easily modified to add new issues.

Lessons Learned

C-BRAT™ Project takes each lesson learned and identifies the recommended resolution using the historical database.

 

 
Key Features
Bid Risk Assessment
Knowledge Based Risk
Quantitative Active Risk Assessment
Earn Value Management
Real-time Cost & Schedule S-Curves
Project Health Checkup
Executive Dash-Board
Project Planning, Scheduling & Tracking
Risk Mitigation Charts & Fallback Plan
Project Cost Benefit Analysis
Integrated Baseline with Corrective Action
E-Signature & Document Management
State-of-the-art Comm. & Collaboration
Seamless Integration with Major Tools
Time & Expense Tracking

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