Project Risk Analysis Software and Project Risk Management Software Forum

Fixed Units is probably the best task type for schedule risk analysis because of the manner in how task types are used to recalculate Work, Units, or Duration. In Monte Carlo simulations, we are measuring how changes to task durations can not only affect project duration and finish time, but also ho...

In Agile, risks as understood in more traditional risk analysis don’t exist or more specifically, they are not managed as risk events, but rather issues that could impact the progress of specific sprints in the delivery of a storyboard. Issues are conditions that have 100% probability of happening, ...

This answer will focus on the two risk scoring methods available in the Format Risk > Advanced Settings dialog pictured below. http://www.intaver.com/images/RP_Forum_ScoringMethod.png The two risk scoring methods are: Method 1 - Combined impact: maximum impact of all categories, and Method 2 - Combi...

Yes. In the Project Options > Duration tab you an set the default Task Type. If you do not manually change this default setting, the Task Type is set to Fixed Units.

In of themselves, the quality or accuracy of your cost and schedule estimates are a major risk a does not matter whether you are performing Monte Carlo or Critical Path analysis. The quality of any analysis is dependent upon the quality or accuracy of the inputs or as more commonly known Garbage In ...

1. It is possible to model Agile projects in RiskyProject, however it does take some adjustment in the methodology and process. 2. Agile has iterations and storyboards which represent the steps (iterations) and deliverables (storyboards) 3. In RiskyProject you can model iterations as activities. Sto...

Here are a couple of trends that we have seen emerge over the past years that are becoming more popular. Black Swan Risk In this case, the default risk matrix setting is used, but the Critical risk cells are extended down to the bottom right corner of the matrix. This is done so that any risks that ...

There are no limits to the number of colors or the range of colors that you can apply to the risk matrix. As an example, if you had a standard 5x5 matrix with 25 cells, you could have 25 different colors. We don’t recommend this, but it is becoming very common to see risk matrixes with up to 6 color...

The Risk Trends reports can be modified using the Risk Trend Chart Settings in the Format Risk Matrix dialog box. By default, the Risk Trends provides the number of risks in each risk severity category over a designated number of periods. The periods can be set using the Risk Trend Chart periodicity...

The Risk Matrix Reports are the Risk Matrix, Risk History, Risk Trends, and Risk Monitor. All are providing slightly different information on both historical and current assessment of your project risks. The Risk Matrix report allows you to show the original and post mitigated assessments for each r...

Reference class estimating, also called reference class forecasting, is a method that uses the data from previous similar project or tasks to establish a probability distribution that can be the basis for forecasting he planned activities or project. The use of this historical data provides strong e...

Cost Type resources are a method of entering costs that are not calculated as a using a rate * work formula. They can be capital or operation expenditures such as shipping or travel. They are more flexible than fixed costs as you can add multiple cost type resources to the same activity. http://www....

In RiskyProject you cannot set a default setting for the constraint typ. In RiskyProject, when you add a new task the constraint type will always default to As Soon as Possible. The reason for this is that in schedule risk analysis hard constraints of any kind should be used as this will prevent the...

The Predecessor tab, which is located in the Task Information dialog box, is the central view for defining task predecessors. As well as defining predecessor link (Task ID, Name, and Type) you can also define the lag between the predecessor and successor as a 3pt uncertainty. To add the uncertainty ...

Irreducible risk is sum of the aleatory risk, which is modeled using 3 point estimates for Low, Most Likely, and High for duration and cost, and residual risk that remain due to risk events or epistemic risks that cannot be completely eliminated. Often irreducible and residual risk are considered eq...