TransCanada - Deltek Acumen Helps Cultivate Confidence in Risk Analysis
TransCanada is one of the largest pipeline companies in North America, operating a network of wholly-owned and affiliated pipelines that tap into virtually all major natural gas supply basins on the continent. The company’s vision is to be the leading energy infrastructure company in North America, with a strong focus on pipelines and power generation opportunities located in regions where it has, or can develop, significant competitive advantages.
The Major Projects Division at TransCanada is the team responsible for schedule risk, cost risk, escalation modeling, and decision tree modeling for all of the company’s projects, including joint venture projects that service external client needs. The team is made up of six to eight analysts that operate as a pooled resource to
support a wide variety of teams – each with varying levels of expertise and understanding of schedule risk.
To expand the understanding and confidence of project teams with high quality risk analysis, the team needed a way to simplify and streamline without giving up the quality of their results.
Part of the concern was that the existing software being leveraged was overly complicated. It produced high quality results and analyses, but it was difficult to train others to use and analysts had a hard time explaining the results in a concrete and understandable way to their clients.
Team leaders needed to find a better way, sothey began the evaluation process for a new risk analysis tool.
TransCanada sought out a solution that could enhance the analysts’ ability to create and maintain relationships with internal project teams, improve overall quality of their analyses and most importantly, achieve better confidence in its results.