Material resource risk modeling

General discussion and questions about project risk management and risk analysis software RiskyProject. Includes discussion on how to perform efficient project risk analysis using our software.

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Material resource risk modeling

Post by OwenT » Tue Jun 14, 2011 8:05 am

Good day guys I have another question regarding modelling of material resource. One of the material resource is accommodation, and I would like to model a reduced usage of the number of units on certain activities ie the opportunity of using less that the estimated amount of units.Any suggestions as to the best way to achieve this?

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Re: Material resource risk modeling

Post by Intaver Support » Tue Jun 14, 2011 8:14 am

To risk variance in material costs your options are quite limited as
resource costs are variable costs and linked to variance in duration.

To model variance in the rate, the only way that we can see is to enter
the total estimated cost for the material for the activity as a fixed
cost in the Cost View. Then assign the risk as a relative cost increase
or decrease to the resource. The limitation of this is you can only do
this with a single resource/activity and it is not associated with
units or consumption of the material.

I hope this answers your question.

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Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject

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