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.
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When should I use cost resources and how would it affect risk analysis?
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In RiskyProject cost resources is developed for compatibility with Microsoft Project and other scheduling software. So if your schedule in Microsoft Project has cost resources it will be shown in RiskyProject as cost resources after important. Some organizations actively use cost resources as part of project scheduling process. It may help to facilitate earned value management.
There are no risk events, which affect cost resource directly. If cost resource is assigned to the task, cost of the cost resource is a properly of resource assignment. It is important to note that cost of cost resource assignment does not depend on task duration. For example, if your task duration is between 3 to 7 days and you have cost resource with cost $5000 assigned to this task, the cost of the task will be always $5000. On statistical distribution of the cost for this task you would see only one bar. Therefore you need to be vary careful when you switch resource type from cost to work and vice versa. Cost of work resources depends on duration of task.
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