Customizing the Tornado Chart

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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BusinessDecisions
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Joined: Tue Apr 03, 2007 11:25 am
Location: USA

Customizing the Tornado Chart

Post by BusinessDecisions » Fri Oct 21, 2016 3:40 pm

It seems that the Tornado Chart has different colors for different types of data and different calculations. Can you modify the colors? Also, which is the preferred “Sensitivity calculation algorithm”. Does it change the ranking at all?
Decision Analysis, Risk Management, Construction Risk, Project Risk Management

Intaver Support
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Re: Customizing the Tornado Chart

Post by Intaver Support » Fri Oct 21, 2016 3:47 pm

The color schemes are hardcoded and correspond with the underlying Windows theme colors. Therefore the outside frame color cannot be changed, but you can modify how the actual data is formatted using the Application Look dialog in the Tools > Resources and Settings.
RiskyProject comes with 2 sensitivity algorithms: Rank order correlation coefficient and Contribution to variance. Both are based on Spearman’s rank correlation coefficient and return the same order of results. Many people prefer the Contribution to variance as it provides a more context into the relative scale that each activity or risk is contribution to the overall variance in a particular parameter (cost, finish time, etc). If your audience is not familiar with correlation coefficients, the contribution to variance provides a more easily understandable measure. For example if your project has $2M at risk, the contribution to variance shows the % of that that can be identified with a particular activity or risk.

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In the example, if there was $2M at risk, the Task 19 is contributing 34% or approximately $680K. This is much easier for project team to understand the potential impact.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
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