PROAct is, foremost, a system to help with project risk management. Identified uncertainties and actions are captured and tracked. The risk management inventory is maintained throughout the project cycle, not just in initial project planning. A simple Monte Carlo simulation calculates a distribution of project cost uncertainty about the base line projection. While not as accurate as a full project simulation model, the PROAct analysis is much easier to perform.
Most project planning is built upon best-estimates for activity costs and completion times.
These above two items are adjusted for the result of management actions selected for implementation. Probability distribution for the cost of risk management actions. Limited formal risk analysis. Adding PROAct for facilitating a program of project risk management. The distribution of project cost uncertainty can be forecast and used for contingency planning.