Risk Analysis with the Use of Primavera Risk Analysis Krantikumar V. Mhetre Assistant Professor, Department of Civil Engineering, Anantrao Pawar College of Engineering & Research, Pune-09,Maharashtra, India kranti305@gmail.com Abstract: Risk is present in all projects irrespective of their size or sector. If risks are not properly analyzed, the project is likely to lead to failures.This paper covers the use and benefits of computer software i.e. Primavera Risk Analysis in Risk Management Process of construction projects to analyze the risks involved in a construction project. It includes the preparation of schedule, assigning the 3-time estimate durations and performing iterations using primavera risk analysis. Preparation of schedule is the input to the Primavera Risk Analysis software after which the risk analysis is performed and we get output in the form of distribution graphs. Schedules which are prepared using Microsoft Project (MSP) and PRIMAVERA (P6/P3/XER) can be imported to Primavera Risk Analysis or it can be prepared directly in Primavera Risk Analysis to perform the analysis. The result gives us the probable start and finish date and its deterministic probability. Keywords: Primavera Risk Analysis, Primavera, construction project, Schedule, risk. 1.0 INTRODUCTION o use the Primavera Risk Analysis (PRA) software, one must first have the complete baseline schedule of the proposed project. Schedules are normally loaded with the resources and in some cases they are also loaded with the cost also. A well prepared schedule is must for performing the risk analysis. The steps involved in the analysis of risks are as per the risk management process. The risk management process firstly starts with the identification of risks followed by their analysis, response and monitoring. The step we are going to concentrate in this paper in the analysis of risks. There are two methods of risk analysis, Qualitative and Quantitative. Qualitative analysis consists of the prioritization of the identified risks using some methods like Risk probability and impact assessment, Probability/impact risk rating matrix etc. Quantitative analysis includes assigning the probabilities to the risks according to their impact on the schedule using some simulation techniques. One of the simulation technique is Monte-Carlo simulation. The other quantitative methods of risk analysis are Diagramming technique i.e. Decision Tree Analysis (DTA), Sensitivity Analysis. What we are focusing on this paper is Monte-Carlo simulations. In other words, the software named Primavera Risk Analysis is based on the simulation technique. 1.1 Primavera Risk Analysis: To start with the risk analysis, the first step is to be ready with the schedule. The schedules prepared by the scheduler must be ready with the resource loading and cost loading, if needed. Schedules are prepared in Microsoft Project (MSP) or Primavera (P6). The software allows us to import the schedules which are prepared in MSP or P6 into PRA. In case if we do not have those schedules, we can prepare it directly in the PRA and also load it with the resources and cost. Identification of risks involves the problems encountered in the execution of the project. Most common risks are non-availability of labors, bad weather conditions, non-availability of funds etc. There are many types of risk such as political, environmental, etc. After the risk identification, they are listed down and this process is known as preparing risk register. The first step of risk management process ends here i.e. risk identification. The techniques used for the identification of risks are interviewing, brainstorming, Delphi technique etc. The general method is conducting a meeting of technical experts, managers who gives the possible risk T * Corresponding Author