RiskyProject software performs integrated project risk management and risk analysis. This concept allows the users to identify risks, add these risks in the risk register, and then assign risks from risk register to tasks and resources of different project. Other steps may include risk presentations and reporting, as well as risk lifecycle management. RiskyProject performs project risk analysis and rank projects based on risk exposure. It also ranks risks based on how these risks affect different tasks and resources. This process is not trial. If you use project risk management only and rank risks without assessing how such risks affect project schedules, your risk ranking may be incorrect. Each risk may be:
- affecting risk which are not on the critical path
- affecting resources which are not fully allocated in the project
- affecting projects with lower project priority
- not affecting any tasks or resources at this particular time
Therefore during risk management process it is very important to go through additional steps of:
- assigning risks to project and task with specific probabilities and impacts
- performing quantitative risk analysis
- quantitatively rank risks, tasks and projects: it is done based on correlation analysis.
These steps constitute integrated project risk management and project risk analysis which is implemented in RiskyProject software.