Assigning risks

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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Jason
Posts: 28
Joined: Wed Nov 09, 2005 10:46 pm

Assigning risks

Post by Jason » Wed Apr 21, 2010 9:51 am

We have just finished a risk workshop for our project and have identified several risks that we would like analyze. We have a couple of risks that can affect a majority of the activities (first several phases) but not the entire project.

How would you assign these risks in RiskyProject? It seems to be a lot of work to assign it to each task? Any advice.

TY

J
Jason

Intaver Support
Posts: 832
Joined: Wed Nov 09, 2005 9:55 am

Assigning risks

Post by Intaver Support » Wed Apr 21, 2010 9:59 am

This is a good question and with all things regarding risk, it is really a judgment call in regards how you want to handle it.

If the risk does in fact have the potential to affect many activities then it may be best to look at how it can affect the overall project rather than applying it to every risk.

However because the period of risk exposure or moment of risk is distributed over quite an extended duration of the product. I would recommend at using the Moment of risk triangle distribution and use it to model in % over the duration of the project when it will begin, most likely occur and end.

You can also use mutually exclusive alternatives for risk outcomes (same outcome/impact but with different result) to model uncertainty in the impacts.

In version 4, we will introduce distributions for risk outcomes that will make of this modelling a bit easier.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

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