Project Risk Analysis Software and Project Risk Management Software Forum

Default settings for risk assignment can be set in the Project Options > Risk tab. While it may seem somewhat odd that there would be default settings as each risk should have its own inherent probability and impacts, default settings are actually designed to show new users how risks assignments (ch...

The “Generate Risk IDs automatically” option is located in the Project > Risk tab. As a general rule, we recommend that you generate your risk IDs automatically as the automation ensures that risk IDs created both automatically and consistently and minimizes user error or inadvertent replication. In...

Please be very careful with relaxing some constraints during import files from other scheduling software because it may cause incompatibility between schedules in RiskyProject and other scheduling software.

Generally different resource types in RiskyProject software are implemented similarly to Microsoft Project. It provides very good compatibility between Microsoft Project and RiskyProject. Other project scheduling software may implement resource types differently, however we are trying to ensure good...

The “ Risk assignments to different tasks are correlated option” is located in the Project > Risk tab. So how does it work and why should you use it? Risks can be assigned to one or more tasks and resources. In the underlying risk model, each assignment is considered its own risk event. When the ris...

During a simulation the chance the risk can occur either as a function of the duration of a task or the duration unit in which the task is measured. For example a task can be 10 days in length. The chance that a risk will occur could apply to the 10 duration, or it could be that the risk could have ...

When you load your project into RiskyProject or make changes to it, RiskyProject monitors various parameters to determine the amount of time it would take to run a simulation. This includes the number or tasks, resources, and risk assignment, as well as the computer resources available which include...

Task deadlines can affect the results of simulations based upon how they are set up in the Task Information > Deadlines. You have three options for task deadlines: No Actions: A deadline arrow will appear on Gantt chart for all views, but the deadline has not affect on the results. This option is us...

The Project Name, Manager, Description etc. are all set in the Project Settings dialog box. I am unsure how you copied the risk register from one file to another, because it should not overwrite anything in the schedule itself as the risk register data doesn’t impact the schedule, it would only over...

StatFit is a 3rd party software tool that RiskyProject integrates with to that allows users to generate custom distributions to “fit” statistical data. So if you have run a particular activity x number of times and have the results, you can use Stat Fit to create or fit your data to a statistical di...

Actually, these distributions are realistic and not outliers. When you use risk events you don’t normally get the smooth distributions that you get when using statistical distributions with 3 point estimate. Depending upon how they are modeled and the number of risks they can be described as a multi...

In quantitative analysis, the impact is a calculated value based on how it effects different project parameters such as schedule, finish time, cost etc and is not equal to the input impacts. The underlying methodology used for calculating both impact and scores is based on sensitivity analysis using...

When enabled legends appear on the bottom of the software interface and provide brief hints or tips about the various items that you can see on the screen and how to interact with them. In the Project Summary view, the legend is located directly below the charts and provides tips about how you can i...

Normally when we defined risk events, we use probability and impacts. How likely is it to occur and what will happen if it does occur. However, risk events can also be defined by a 3rd parameter and that is if they do occur, when during a project will they occur. Got global or large tasks this param...

In statistics, statistical distribution and probability density (PDF) functions describe the same thing and can be considered interchangeable. PDFs mathematically describe the probability that an outcome will occur over a range of possible outcomes. In the example below, we have a triangular distrib...