While building St. Joseph Orange’s Patient Care Center, the Petra team developed a method of mitigating cost increases and managing unforeseen challenges, which led to a focus on risk management. Through implementing methods such as the Monte Carlo process, the team was able to manage resources more effectively and to deliver greater transparency during the construction of the Cancer Center project.
Petra’s efforts through risk simulation provided the Hospital’s Governance Board and Executive Management the ability to evaluate risk tolerance and to influence the construction process to positively impact incremental outcomes. These risk initiatives also enabled the project team to evaluate risk probabilities and magnitudes in order to more effectively manage the most impactful risks. Petra’s efforts also helped to launching St. Joseph Orange’s robust oncology program, thereby establishing St. Joseph as an oncology leader within Orange County.