RiskyProject Professional 4.2 | 26.31 Mb

RiskyProject Professional 4.2 | 26.31 Mb

Project managers can use RiskyProject for planning, scheduling, quantitative risk analysis, and performance measurement of projects with multiple risks and uncertainties. RiskyProject allows managers to improve their ability to predict the course of projects and determine how risks and uncertainties will affect the project schedule. With RiskyProject, you can optimize the course of your project: track project performance and risk together and analyze the affect of your mitigation efforts. It will help increase the chance that your project will be on time and on budget.

Integration with Microsoft® Project and Oracle Primavera
RiskyProject is built around its own scheduling system. You can define task parameters, relationships between them, constraints, resources, and cost without using Microsoft® Project, Oracle Primavera, or any other scheduling software. However, if you are already a user of Project, Oracle Primavera, or other project management software, you can seamlessly open project, created by these applications and augment existing data by assigning uncertainties to your tasks and projects.

Risk Register
A risk register is a set of all risks and issues in the project. Issues are risks that have occurred and therefore are having an actual affect on your project. You can easily convert risks to issues. You can open and close risks. Risks in the risk register may have different properties (owner, recorder, contact, date recorded, date converted to issue, location, etc.). You may customize any properties for all projects.

Customizable Risk Categories
RiskyProject performs quantitative risk analysis on any types of risks outcomes including non-schedule risks. Non-schedule risk categories include quality, safety, performance, etc. You may add or replace any risk categories.

Assigning Risks to Tasks and Resources
Setting up your project for risk analysis has never been easier. RiskyProject's interface is designed to allow you to quickly add and edit your project risks. To assign risk to tasks you may use risk register, global and local risk views, assign them separately for each task or resource.

Result Gantt Chart
The results of your project risk analysis are shown on the Results Gantt chart. You will see the ranges for start and finish times of each task, and be able to compare them with baseline or original project schedule.

Risk Probability vs. Impact Matrix
The risk matrix shows project risks' impact and probabilities and allows you to identify critical risks. In addition, the Risk matrix shows both threats and opportunities. The Risk Matrix is fully customizable: you can define the size of the matrix and risk tolerance.

Probabilistic Earned Value Analysis
RiskyProject performs earned value analysis based on original project schedule and project schedule with risks and uncertainties (results of analysis). RiskyProject allows you to specify or calculate actual cost for each task. Actual cost, budgeted cost, and cost as a result of analysis (with risks and uncertainties) are displayed using interactive cash flow diagrams. You can determine difference between actual and budgeted cost on the each stage of the project.

Product Lifecycle Management
In addition to cost analysis RiskyProject includes income and revenue analysis with risks and uncertainties. You may perform risk analysis related to both product development and product sales. RiskyProject has separate sets of risks related to income, such as Fixed Income Increase and Relative Income Increase.

Tracking Projects
Because real-life data is sometimes the only way to assess your uncertainties correctly, tracking is one of the most important components of RiskyProject. To track a task, you enter the percentage of the task done on the particular date. RiskyProject then calculates the projected task duration and updates the risk profile of the task. The project schedule is recalculated to give you a more accurate estimate of total cost, project finish time, and duration. These new results are then presented in the Tracking Gantt Chart.

Deadlines
RiskyProject allows you setup project deadlines for tasks and projects and assign different actions to them. For example, tasks or projects can be canceled if the task or the project reaches the deadline. In this case, the success rate of the project or task (chance the project or task will be completed) is reduced. See Online Documentation for more information.

Probabilistic Calendar
You can now model weather and other calendar related event's using probabilistic calendars. If your project has a 30% chance of running an inclement weather schedule, you can create this calendar with reduced hours of operation and run it 30% of the time during the project to model this calendar risk.

Sensitivity Analysis (Tornado Diagram)
Sensitivity Analysis shows you the input parameters (task duration, start and finish time, success rate, etc.) that have the most affect on project parameters (total project cost, total duration, project finish time, and success rate). Sensitivity analysis allows you to identify critical risks, which have the potential of significantly affecting your project. These critical risks should be the key focus of your risk mitigation efforts. The results of sensitivity analysis are presented in sensitivity charts.

Crucial Tasks
Crucial Tasks are those tasks, according to the sensitivity analysis, whose duration has the most affect on a project's duration and finish time are crucial tasks. Uncertainties related to critical tasks should be assessed and the risks associated with these tasks should be mitigated. Crucial tasks are displayed on the Gantt chart using distinct colors.

Success Rate Gantt
Risks and deadlines can affect task success rates. You can quickly identify tasks with that fall within specific success rates by assigning different colors to ranges of success rates. For example, those tasks whose success rate falls between 0 and 10% could be assigned the red color.

Project Summary and Project Dashboard 3x3
The Project Summary view shows the main information about project: total cost or revenue (if income is defined), finish time, duration, and success rate for both deterministic and probabilistic calculations.

Reporting Tools
RiskyProject comes with powerful reporting tools. You can output the project schedule from each step of the workflow. RiskyProject's customizable Task Sheet and Result Task Sheet allow you to see task information in table format. The results can be printed, exported to the clipboard in graphic and text format, or exported to as a JPEG file. This is particularly useful if you want to publish results of your analysis to the web.

Risk Templates
Risk templates are standard sets of risks that allow you to quickly and simplify add risks to tasks and projects. A number of templates are included to RiskyProject package. In addition, it is easy to create your own templates, which you can use for your own projects. See Online Documentation for more information.

Managing Mitigation and Response Plans
You can define mitigation plans using the Mitigation view. Mitigation plan can be execute when risk is occurred. RiskyProject will count, how many times the mitigation plan is executed. The diagram, which shows how often the mitigation plan is executed, will be displayed within a mitigation view. One mitigation plan will be executed only once per task even multiple risks occur. See Online Documentation for more information.

Risk Chart
Risk chart shows risks associated with tasks versus task duration or task cost. The risk is expressed as task standard deviation of task duration or cost, maximum, minimum values, ranges, or different percentiles (P10, P90, etc.). In a well-balanced project schedules, different tasks usually have similar level of risks. However, if the risk associated with a task is higher than for other tasks with similar duration or cost, these risks should be carefully analyzed and possibly mitigated. Alternatively, if a task does not have significant risks and uncertainties compared with other similar tasks, it may make sense to analyze the task uncertainties to see if they have been represented properly.

Conditional Branching (If-Then-Else analysis)
Probabilistic branching allows the project to branch from one task to another task or group of tasks as part of the simulation process. For example, depending on results of project elaboration, there is a 40% chance that one project alternative will be selected and a 60% chance that another project alternative will be selected

Multiple Statistical Distributions
In addition to the Risk Register uncertainties in the RiskyProject can be represented using statistical distributions. Using RiskyProject's intuitive interface, you can define ranges for the following task parameters: duration, start time, cost, and lag between task successor and predecessor. 

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