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
- Posts: 29
- Joined: Wed Nov 09, 2005 10:46 pm
Is there any way to handle Hammock activity in Riskyproject?
- Posts: 853
- Joined: Wed Nov 09, 2005 9:55 am
For LOE activities, it only matters if you are running resource loaded to calculate costs. If this is the case, you need to run two simulations: the first to assess the overall duration uncertainty covered by the LOE activity, the second to apply this uncertainty to the LOE task.
For example, to calculate the uncertainty for a Project Management LOE task, run one simulation to calculate the Project duration uncertainty. For example, if a 100 day project has an expected duration of 90 (Minimum) to 125 (Maximum), I would add an uncertainty coefficients of .9 – 1.25 to the PM LOE task. We have found this generally works quite well.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject