I added mitigations to each of my risks, and noticed there are pre-mitigation and post-mitigation tables on the Risk Register view.
When I run the Monte Carlo analysis, is it assuming mitigation for only those that have already been met based on mitigation date, or is it assuming all mitigations will happen even if they have not yet happened?
If the Monte Carlo analysis I run today does not include mitigations that have not yet happened, is there a way to run an analysis today that will show what will happen if all mitigations are successful in the future?
Pre and Post Mitigation scores after MC Simulation
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Re: Pre and Post Mitigation scores after MC Simulation
I think it is a misunderstanding of what the mitigation planning does. Quantitative modeling of mitigation efforts is a type of scenario analysis.
Mitigation plans not part of the quantitative analysis in that they are qualitative - plans reduce the risk. However, to run an analysis on it, you have to create a post-mitigated baseline that includes the changes to risk probability and impacts, but also the risk burndown activities that would be required to minimize the risk. This also ensures that it takes into account that each mitigation activity will have its own duration, resources and costs.
Mitigation plans not part of the quantitative analysis in that they are qualitative - plans reduce the risk. However, to run an analysis on it, you have to create a post-mitigated baseline that includes the changes to risk probability and impacts, but also the risk burndown activities that would be required to minimize the risk. This also ensures that it takes into account that each mitigation activity will have its own duration, resources and costs.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com