Digital Project Risk Management Software Solution

2024-10-08

Large-scale projects, with long cycles and broad scopes, involve numerous and complex risk factors, such as cost, schedule, and quality risks. How can project risks be monitored, warnings issued in advance, and swift actions taken to prevent loss?

8Manage PM digital project risk management software solution helps organizations achieve intelligent risk identification, proactive warnings, and real-time monitoring. It also establishes a project risk database to remind stakeholders of risks like delayed project acceptance, changes in project requirements, and payment delays. The entire process of detection, handling, and correction is recorded, reducing potential losses.

Key Features:

1. Detailed Stage Management with Real-time Monitoring:

   For large-scale projects, 8Manage PM divides projects into stages, monitoring each phase closely and collecting risk information for more refined management. Risk data is visualized in charts, showing risk scores and a historical record of assessments for detailed analysis.

2. Predefined Risks and Timely Alerts:

   By presetting rule-based formulas, the system identifies risks, which are automatically categorized into a risk rule database. The system alerts responsible parties through various channels, like portals and workflows, and automatically pushes warnings. The handling process is fully traceable, and the system creates a comprehensive archive for future reference.

3. Expert Risk Scoring:

   During the risk identification phase, the primary task is to discover potential dangers and estimate their consequences. This phase relies on experts for scoring identified risks. After the project team assesses the risk, professional scorers evaluate it, and the system sends the scoring task directly to the appropriate experts for input.

4. Risk Reporting:

   Once risks have been scored, the system automatically submits them to a risk database. This database allows for easy retrieval and detailed information on the risk scoring process.

 Effective Control of Project Risks:

- Preventing Schedule Overruns:
  Using the project lifecycle as a foundation, 8Manage PM tracks problems, changes, and time factors, making project processes transparent and intuitive. Tasks are broken down, and their timelines, responsibilities, and progress are recorded. With defined milestones, staff report progress and issues via workflows, ensuring timely project completion and quality control.

- Preventing Quality Risks:

  Project members can submit issues through a dedicated channel, even via mobile, ensuring quality and safety are maintained. Communication with clients is facilitated through enterprise WeChat, keeping clients informed, sharing project documents, and reducing quality risks.

- Preventing Financial Risks:

   8Manage PM consolidates various costs, allowing project managers to identify high expenses and monitor budget allocations. Dynamic analysis of project procurement and staffing costs enables real-time budget monitoring. Additionally, 8Manage PM controls budget expenses through workflow management, budget control, and quota management, ensuring compliance.

   It also links project progress with contract payments and income recognition, streamlining the payment process through digital means. The system automatically triggers payment reminders based on project progress and keeps a complete record of receivables.

- Preventing Staff Attrition Risks:

   To avoid project delays due to staff departures, 8Manage reassigns clients from departing team members to others, ensuring continuity. All project documents, service records, project progress, client needs, and notes are transferred seamlessly, maintaining service quality.

- Preventing Knowledge Loss Risks:

   Project documents are automatically compiled into a repository, facilitating easy access and reducing the risk of knowledge loss due to staff turnover.

 Conclusion:

The 8Manage PM digital project risk management solution provides comprehensive support to organizations by enabling real-time monitoring, early warning, risk identification, and professional evaluation. This system helps minimize project risks and losses while enhancing overall project management efficiency.