Moderator: Intaver Support
The value of risk factors is that it provides a method to model variance due to known or common sources of uncertainty such as network performance or throughput, organization capability, or other external or internal factors.
The goal of using risk factors is that it will improve the modeling of uncertainties and possibly provide insight into how specific sources of project uncertainties or systemic uncertainties could be reduced through implementation of best practices.
In RiskyProject, factors are modeled as risks with 100% probability that are assigned to specific resources or activities in the schedule. In the example below, the Risk Factor “Productivity” has been assigned to a work package “Foundation” that includes multiple sub-tasks.
When you run a simulation, this factor will be accounted for in the results. Further, it will possible to identify the factors contribution to the overall variance in the project parameters (finish time, cost, duration, etc.) and as mentioned can identify the most significant sources of uncertainty and what they should focus on to improve performance in the future.
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