Fine tuning statistical distributions

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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Fine tuning statistical distributions

Post by DavidB » Thu Dec 03, 2015 2:20 pm

We would like to fine tune some of the statistical distributions we use for our schedule risk analysis based on historical data. Typically we have been using triangular distributions, but based on our experience we think that this puts too much probability on the boundaries.
David B

Intaver Support
Posts: 900
Joined: Wed Nov 09, 2005 9:55 am

Re: Fine tuning statistical distributions

Post by Intaver Support » Thu Dec 03, 2015 2:47 pm

RiskyProject has many other distributions available, and you can to fine tune parameters of them.

You can fine tune or customize the statistical distribution for Schedule (as well as other parameters) in the Task Information > Distributions.
In the Distributions dialog, click the Duration tab. You can select a distribution from the Distribution drop down list. Depending upon your selection, you will be presented with distribution specific parameters that you can modify. For example for BetaPert you can modify the Mean or for LogNormal you can define the boundaries.

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

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