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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Can you explain how the Enterprise Risked Project Chart works for RiskyProject Enterprise?
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The Risked Projects chart shows the level or relative schedule and cost risk for each project in the Portfolio. It differs from other schedule and cost risk analysis that we can derive from Monte Carlo simulation in that it provides insight into how “risky” projects as a function of the project budget and schedule. For example: Project A with a budget of $ 1M has $100 K of risk, Project B with a budget of $ 2 M also has $100 K of risk. Both have the same actual amount of cost at risk, however Project A has twice as much of relative risk.
From the Risk Projects chart we cannot tell why one project has more relative risk than others, but it provides a additional information that supports the decision making process. It may be an expected result, but could indicate that further investigation and management decisions are required.
Intaver Support Team
Intaver Institute Inc.
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