Project Risk Analysis Software and Project Risk Management Software Forum

We recommend to use very simple risk id, but include prefix associated with group/division or type of risk. For example, AC0024 will be for accounting and IT00778 will be for IT group.

No. Latin Hypercube is a sampling technique for Monte Carlo simulations. In many cases, this greatly decreases the time required to run a simulation. RiskyProject incorporates several proprietary algorithms to optimize the risk model and Monte Carlo, which mirrors the performance increases of Latin ...

Conditional and Probabilistic branching allow you to model the impact of different types scenarios that could occur during the execution of a project Probabilistic branching models how different activities will be executed probabilistically once a common successor activity is completed. A common use...

In RiskyProject, risks can be managed using two processes. The first is a mitigation plan which is one or more activities that will occur before period in which a risk could occur to minimize either the impact or probability of the risk occurring. Mitigation plans are generally created as assigned t...

Resource costs are used to differentiate the types of costs that can accrue to an activity based on the type of resource that is being consumed. If the resource costs is a rate ($/time unit) it can be used to model time dependent costs. Work costs are the cost for personnel based upon a rate (hourly...

No. Any updates or upgrades require that the software be uninstalled and reinstalled. Whenever, a commercial update or new version are available, we do sent out notices that the update can be downloaded from our site.

No, while RiskyProject has defined set of users, there is no global resource pool that can be shared across projects. If you are sharing resources and risk or issues regarding availability of the resources, we suggest you assign a risk to the resource that indicates that there may delay due to avail...

Project schedules are exported using the MSP xml format which is supported by Microsoft Project (2010 and later), P6, and most other 3rd party scheduling software. As part of the export process, you can define whether you would like to export the deterministic schedule or the results of the simulati...

Yes, you can see the simulation results for each period in the Cash Flow view. Double-click on the period that you want to view and the simulation results will appear. Periods are set using the Periodicity drop-down list.

IRR provides a rate (%) of expected return based on the difference between the present value of income and the present value of project costs over the life of the project or a period of time. Net present value uses a discount rate, which generally represents the cost of borrowing (interest) to calcu...

To see probability distribution of work for assigned resources you need to double click on task ID. Task information dialog will come up. Click on Resource tab and then right click on resource assignment ID. In pop up menu you select “Simulation Results”. You can view cumulative probability plot, fr...

Yes, mitigation plans are only plans and do not affect the calculation. The Pre-mitigation score reflects the current risk model without mitigation efforts. Mitigation plans are a reflection of what the outcome of certain mitigation activities will have on the risk, but these actions may or may not ...

No, RiskyProject can only import the baseline that is loaded into the project views at the time of the import. So there is no option during the transfer of Project data to RiskyProject to select a specific baseline that is not currently loaded into Microsoft Project.

A continuous distribution is when the a variable can be equal to any value between two defined variables. For example if we have a continuous distribution for duration that is between 5 and 10 days, then Monte Carlo simulation can randomly generate any value between 5-10. Discrete distributions are ...

Yes, Cost type resources can be read in from MS Project as well, can be created in RiskyProject. To assign a cost type resource to a task. Open the Resources view in RiskProject. Type in the source name and select Cost as the type. http://www.intaver.com/images/RP_Forum_CostResource.png Open the Pro...