How do I sort out residual risk from uncertainties

This forum includes discussion about project risk analysis and risk management theory: Monte Carlo simulations, Event Chain Methodology, schedule and cost risk analysis. Please submit questions and case studies about your experience with our project risk analysis software.

Moderator: Intaver Support

Post Reply
Leonardo
Posts: 8
Joined: Fri Mar 03, 2006 1:43 pm
Location: Philippines

How do I sort out residual risk from uncertainties

Post by Leonardo » Mon Nov 09, 2015 10:27 am

We have created a mitigated baseline that contains both residual risk and uncertainty. As part of your process, we would like to separate out the impacts of the residual risks and the uncertainties from the monte carlo risk analysis. Is there a quick way to do this. We were thinking of creating to baselines one with the risks and one with only uncertainties, but would prefer not to.

Intaver Support
Posts: 823
Joined: Wed Nov 09, 2005 9:55 am

Re: How do I sort out residual risk from uncertainties

Post by Intaver Support » Mon Nov 09, 2015 10:29 am

The easiest way is just to disable all the risks. First step is to run a monte carlo simulation. Save the analysis. Then you can disable all the risks. This is done in the Risks Tab, Export/Import > Enable/Disable Risks.

Image

Run one more simulation and record the results. This results of this analysis in the impact of uncertainty on your project. The differences between the 1st and 2nd simulation is the impact of the residual risk on your project.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Post Reply