Intaver Institute News 2015

December 22, 2015
Intaver Institute scheduled two new webinars

Intaver Institute Inc. scheduled two free webinars.

Webinar “Mastering risk analysis with RiskyProject” will be held Tuesday, March 8 2016. The standards for effective planning and management of projects are increasingly adopting Monte Carlo project risk analysis as an essential tool in an environment that is characterized by increased complexity and lowered risk tolerance. This webinar will show you a step by step process how to import project plans from other scheduling software, add uncertainty and risk events, understand how to analyse the results.

Webinar “Integrated project risk analysis” will be held Tuesday, May 3, 2016. Risk in projects can come from two main sources Risk events and uncertainties. Risk events are discrete risks that are commonly captured in risk registers and are characterized by probability and impact. Uncertainties are inherent natural randomness that is found in all processes. Both should be included as part of your project risk analysis model. This webinar will show you how to assign risk events and uncertainties to your activities, how to model risk factors, how to interpret results of analysis with discrete events and uncertainties.

Also we would like to remind you that our next webinar “Cost and Schedule Risk Analysis with RiskyProject” will be held Tuesday, Jan 12, 2016. Please click here to register for this webinar.

December 2, 2015
2016 Events for Intaver Institute

Intaver Institute Inc. will attend as an exhibitor or make presentations on at least six major events in 2016. Our next event will be Construction CPM Conference in New Orleans, LA (January 31 – February 5, 2016, Sheraton Canal Street). Construction CPM conferences focuses on the Critical Path Method of Planning and Scheduling Analysis, including project risk analysis and risk management. Intaver Institute Inc. will present its RiskyProject software suite. We will also make a presentation on theoretical aspects of project risk analysis and in particular our Event Chain Methodology.

For more information please visit our events page.

September 22, 2015
Two New Intaver Institute’s Videos

Intaver Institute published two new videos. They both focus to theoretical aspects of schedule risk analysis using Monte Carlo:

  • Schedule risk analysis with RiskyProject: How many Monte Carlo iterations are required?
  • Schedule risk analysis with RiskyProject: What statistical distribution should you use?

Please click here to watch the video or visit our YouTube channel.

August 26, 2015
Two New Intaver Institute’s White Papers

Intaver Institute published two new white paper. The first paper is Behavioral Traps in Project Management. You are driving down a highway, and as usual, you have chosen the fast lane. However, today, it seems to be moving more slowly than usual and when you glance to the side, the adjacent lane appears to be moving faster. After 5 minutes without improvement, you are starting to wonder whether you should switch lanes, but because you have already spent some time what is normally the fast lane, you hope that it will eventually resume its normal pace. Essentially, you have become entrapped. In this paper we will discuss behavioral traps or situations where people become engaged in rational course of actions which later become undesirable.

The second paper is called Memory Errors in Project Management. A lot of the mental mistakes we are prone to in project management are related memory. Often, we cannot properly assess events because we have forgotten similar events that occurred in our past. In this paper we will explore how certain features of our memory can affect project management and how we can improve our memory and hopefully improve our project management.

August 17, 2015
Two new webinars are announced

Intaver Institute announced two new webinars:

  • How to analyze and manage project risks: Tuesday, November 10, 2015
  • Cost and Schedule Risk Analysis with RiskyProject: Tuesday, Jan 12, 2016

Next scheduled Intaver Institute webinar “Creating Risk Adjusted Project Plans for Aerospace and Defence Projects” will occur Tuesday, September 8, 2015 10:00 AM – 11:00 AM MST.

August 4, 2015
New Intaver Institute’s channel reseller: SoftLine

Softline is a new Intaver Institute’s channel reseller located in Russia. For more information about Softline please visit Softline web site.

July 29, 2015
New Intaver Institute’s reseller: Simple IT

Simple IT is a new Intaver Institute’s value-added reseller located in Bucharest, Romania. SIMPLE IT is a distributor for software solutions and hardware appliances, adding value with consulting, training, implementation, configuration and support services, backed by certified specialists, in order to offer the best IT experience to customers and partner.

For more information about Simple IT please click here.

July 8, 2015
New Intaver Institute’s partner: ForProject Technology

ForProject Technology, Inc. is a new Intaver Institute’s partner. ForProject Technology is a project management solutions company based in Dallas, Texas. ForProject provides technology that extends the capabilities of Microsoft Project, Project Server and SharePoint, allowing our clients to leverage the investments they’ve made in Microsoft technologies.

ForProject specializes in:

  • Earned Value Management (EVM) and cost management systems, scalable from single projects to global enterprises
  • Tools to make schedules better and to make the scheduling process easier
  • Powerful, configurable integration tools for Microsoft Project and Project Server, to enable faster, more practical integration

For more information about ForProject Technology please click here.

June 19, 2015
New Video: Project Risk Management in Oil and Gas Industry

In light of recent drop in oil prices, improving efficiencies of oil and gas exploration, development and production has become very critical. Project risk management is proven to be perhaps the most cost effective and easiest to implement method to improve project performance and reduce cost. Still many oil and gas companies do not employ effective project risk management processes. This video demonstrates the basic steps of project and portfolio risk management process: New video is posted here.

June 16, 2015
New Intaver Institute’s White Paper

Intaver Institute published new white paper: Emotions in Project Management. In this paper we will learn about how decisions in project management are affected by our emotions. People make choices under the influence of emotions all the time. Emotions can lead to mental mistakes; mental mistakes lead to low quality decisions. We will not attempt a comprehensive review of human emotions; instead, we will explain why even the most emotionally intelligent people make irrational decisions when they find themselves in stressful situations. We will also provide few choice engineering ideas that will help you to mitigate the negative impact of emotions on your decisions in project management.

June 9, 2015
New webinar: Creating Risk Adjusted Project Plans for Aerospace and Defence Projects

New webinar is scheduled for Tuesday, September 8, 2015. Aerospace and defence project teams are faced with large and complex projects, which present more risk and uncertainty than previously experienced. Project teams are asked to deliver projects on time, budget, and scope and this task is made much more difficult when these targets are not realistic. Project plans that do not actively manage risks and account for uncertainties are unrealistic and therefore unattainable. Creating risk adjusted project plans allows you to create schedules and cost estimates that are resilient with sufficient, yet realistic contingencies that will protect key project objectives.

This webinar will show you how to:

  • Assess the impact of risk events on key project objectives using quantitative risk analysis
  • Create risk response plans that reduce the impact of risks
  • Assign uncertainties to schedule and cost and run Monte Carlo simulations to determine cost and schedule variances due to uncertainties
  • Build realistic risk adjusted schedule and cost baselines with contingencies and management reserves based upon the analysis of project risk
May 29, 2015
Intaver Institute at EVM World 2015

Intaver Institute presented its RiskyProject project risk analysis and risk management software at EVM World 2015 Workshop, May 27 – May 29, 2015 in Hyatt Regency New Orleans. The EVM World 2015 Workshop was focused on project performance techniques, including earned value management (EVM). The workshop provided training, current topics from practicing professionals, access to world leaders in project performance management, networking, and the latest in software and consulting to make program and project successful.

May 18, 2015
Intaver Institute at World Congress on Risk, Singapore, July 19-23, 2015

Intaver Institute will present RiskyProject software and Event Chain Methodology at World Congress on Risk 2015 in Singapore, 19 July 2015 to Thursday, 23 July 2015. The World Congress on Risk 2015 will be the fourth in the series of World Congresses organized by the Society on Risk Analysis (SRA) and its partner organizations. The overall theme of the 2015 World Congress will be Risk Analysis for Sustainable Innovation, highlighting sessions that identify ways that risk analysis can assist private and public policy makers facing complex and uncertain challenges while maintaining innovation and development. Special emphasis will be placed on the role of risk analysis as a tool for policy making and tradeoffs in situation of limited resources and extreme challenges that are characteristic of developing countries.

For more information about World Congress on Risk 2015 please visit click here.

May 4, 2015
New webinar: Managing Project Risks: Why, When and How

New webinar is scheduled for Tuesday, May 12, 2015. The webinar demonstrates how to establish effective and relatively simple process of managing project and portfolio risks in organizations. The process is based on “3C” principle:

  • Consistency –project and portfolio risks are managed in a consistent fashion
  • Comprehensive – all risk related to different project and portfolio objectives should be managed
  • Continuity – risks need to be managed over time

In the webinar, you will see how to put the 3C principle as part of the important elements of project and portfolio risk management process:

  • Setting up risk registers and identification of risks
  • Defining risk properties and risk costs
  • Identification risk probabilities and impacts
  • Assessment of risk criticality
  • Risk mitigation and response planning
April 21, 2015
Next Webinar “Project Risk Management in Oil and Gas Industry: Why Now”

New webinar is scheduled for Tuesday, April 28, 2015. It is focused on upstreat and downsteam oil industry. In light of recent drop in oil prices, improving efficiencies of oil and gas industry has become very critical. Project risk management is proven to be perhaps the most cost effective and easiest to implement method to improve project performance and reduce cost. Still many oil and gas companies do not employ effective project risk management processes. This webinar demonstrates the basic steps of project and portfolio risk management process:

  • Identify project risks and record them in risk register
  • Assign risks to different projects and activities and calculate impact of these risks on project
  • Reduce the impact of project risks
  • Manage and control risks during a course of projects

Based on real-life examples, the webinar demonstrates how these processes can help oil and gas companies to control capital and operational costs.

April 20, 2015
New RiskyProject video: Risk Correlations

The video shows what is risk correlation and how to use it in schedule and cost risk analysis.

RiskProject includes risk correlation feature. Risks assigned to activities within a project schedule can be correlated with each other. For example, one risk can trigger other risks, or different risks can occur at the same time. In RiskyProject you can define correlations of different risks or the same risk assigned to different activities. Risk correlation can significantly affect result of risk analysis. New video is posted here.

March 30, 2015
Intaver Institute Announced New Webinars

Intaver Institute announced the following new webinars:

  • Project Risk Management in Oil and Gas Industry: Why Now – April 21, 2015
  • Managing Project Risks: Why, When and How – May 5, 2015
  • Analyzing and Managing Risks in Project Portfolios: An Introduction to Portfolio Risk Analysis – July 7, 2015
March 26, 2015
Petroglyph – new Intaver Institute’s partner

Petroglyph represents a commitment to empowering project teams in driving projects to success through the application of robust project controls systems, processes and tools. Petroglyph believes that the foundation to success in all projects is an effective and aligned project team using sound project controls processes, proven methods and tools, and a solid approach. Petroglyph uses both industry-leading risk modeling tools such as RiskyProject, as well as experienced risk facilitators to ensure our clients have successful, meaningful and tangible risk workshop results. Petroglyph approach is to engage the project team in a collaborative approach to understand and extract relevant risk events and duration uncertainty to build the best model possible. Petroglyph focus is on quantitative risk assessments to provide our clients with an understanding of the impacts of risks and opportunities to their project’s cost and schedule. For more information about Petroglyph please visit web site: www.Petroglyph.ca.

March 26, 2015
RiskyProject 6.1.2.3 – Minor Software Release

Intaver Institute has released RiskyProject 6.1.2.3 for the Lite, Professional and Enterprise versions. RiskyProject 6.1.2.3 is a minor software release and includes fixes of few minor issues. RiskyProject Enterprise 6.1.2.3 allows saving data for individual tasks in the database, which is required for reporting and integration with other project management software. If you use RiskyProject 6.0 and earlier and looking to increase performance on Monte Carlo simulations, we recommend you to upgrade your software to RiskyProject 6.1.2.3.

March 19, 2015
New Intaver Institute’s White Paper

Intaver Institute published new white paper: Did Oswald Have a Chance to Kill The President? A Project Risk Analysis Perspective. To demonstrate how to use quantitative project risk analysis, we decided to use a well-known historical event, the assignation of U.S. President John Kennedy. We are trying to determine the chance that Oswald could complete his project – the assassination of President Kennedy – as it actually occurred. We do not claim to possess exact information especially with regards to the probabilities and impacts of certain risks; and therefore, cannot give a definite answer from the historical point of view. This example is only intended to illustrate project risk analysis methodology.

March 3, 2015
Next Intaver Institute Webinar

Next Intaver Institute webinar “Optimizing your Monte Carlo simulations in RiskyProject” will be held Tuesday, March 10, 2015. Time: 10:00 AM – 11:00 AM MST (UTC-07:00)

Cost and schedule risk analysis are becoming a more frequent contractual requirement in many programs. On large projects this can be a frustrating and time consuming process and the results are often hard to communicate. In this webinar, you will learn how to streamline you risk analysis and communicate the results. You will learn:

  • how many iterations to run
  • what convergence monitoring is and how it can speed up your analysis
  • how to streamline your data for schedule risk analysis in Microsoft Project
  • how to communicate the analysis using histogram, cumulative probability, and tornado diagrams
February 17, 2015
Managing integrated project schedules

RiskyProject 6.1.2 improved analysis of integrated project schedules. Integrated project schedules have multiple individual project schedules linked with each other. RiskyProject 6.1.2 supports unlimited number of links between any tasks any projects. Integrated project schedules are created in Microsoft Project and other project management software. RiskyProject generates equivalent consolidated project schedule during import data from third-party project management software. In RiskyProject 6.1.2 this process is very fast and does not require any user input. For more information about integrated project schedule please contact Intaver Institute.

February 10, 2015
RiskyProject is integrated with Synchro PRO

Intaver Institute’s RiskyProject risk analysis and risk management software is integrated with Synchro PRO’s scheduling software for the construction industry by Synchro Software. Synchro PRO combines scheduling with 3D visualization of the construction project. This innovative real-time 4D functionality gives delivery teams the ability to plan, communicate and manage in a way that has never before been possible. Synchro PRO can help to manage and visualize risk adjusted project schedule generated by RiskyProject. For more information about Synchro please visit web site: www.synchroltd.com.

February 2, 2015
4castplus is new Intaver Insitute’s integration partner

4castplus has become new Intaver Insitute’s integration partner. 4castplus is industry-leading project cost management software that delivers performance-driven power to organizations worldwide. It covers a suite of critical planning, tracking and controls tools that are tightly integrated to enable deep visibility on construction projects. Packed with intelligent workflows in a collaborative platform, its smooth design enables multiple project disciplines to work together, guaranteeing project success. Features include: Project Management, Procurement, Change Management, Project Tracking, Earned Value Management, Estimating, Budgeting, Forecasting, Timesheets and Billing. Dashboard and drilldown reports enable full transparency into project costs, revenues, vendor performance, cash flow, WIP, trends, and much more. Users gain early insight into project issues and cost overruns to take timely corrective action for keeping projects on plan. Owners, contractors and EPCs worldwide have successfully put an end to chaotic spreadsheet solutions to adopt a system that was built for how they do business. For more information about 4castplus please visit web site: www.4castplus.com.

January 27, 2015
New RiskyProject Presentations

Intaver Institute published two new presentation:

  • An overview of integrated project and portfolio risk management and risk analysis process with RiskyProject Enterprise.
  • Comparison of RiskyProject Professional and RiskyProject Lite versions.

Intaver’s presentations are the great source of information for somebody who is learning RiskyProject software as well as project risk management and risk analysis methodology. To view the latest presentation click here.

January 22, 2015
RiskyProject Integration with Oracle Primavera and other project management software

RiskyProject now has improved integration with Oracle’s Primavera project management software. RiskyProject can exchange data with Primavera using the Microsoft Project XML data format. Oracle improved Primavera’s export of the Microsoft Project XML format with its 2014 release of Primavera P6 R8.4. This release resolves a number of shortcomings in previous versions and makes the XML export very reliable.

Currently, RiskyProject has seamless integration with Microsoft Project using Microsoft office’s Add-in technology. The Add-in allows for fast data communication between Microsoft Project and RiskyProject. One of the key data formats that RiskyProject can import is the Microsoft Project XML and this format can also be used to integrate with our project management tools with support this format such as OpenPlan, Asta Poweproject, Spider, Phoenix Project Manager, and others. Intaver Institute’s development team puts very significant efforts in testing the integration with other project management software to ensure 100% compatibility between RiskyProject and other software using the Microsoft Project XML format.

January 9, 2015
RiskyProject 6.1.2 – Minor Software Release

Intaver Institute has released RiskyProject 6.1.2 for the Lite, Professional and Enterprise versions. RiskyProject 6.1.2 is a minor software release and includes performance improvements as well as fixes of a few minor issues. RiskyProject 6.1.2 is optimized to run multiple Monte Carlo simulations on remote servers. Monte Carlo simulation performance has been increased by up to 900% compared to RiskyProject 6 and up to 80% compared to RiskyProject 6.1. If you use RiskyProject 6.0 and earlier and looking to increase performance on Monte Carlo simulations, we recommend you to upgrade your software to RiskyProject 6.1.2.

For more news please click here.