Risky projectenterpriseriskmanagement
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Intaver Institute Inc. offers a comprehensive Project and Portfolio Risk Management solution through its software, RiskyProject, which incorporates Monte Carlo simulations for risk analysis and provides a detailed risk register. The platform allows users to assess risks across multiple projects, rank them based on exposure, and manage mitigation plans effectively. It features customizable risk categories, individual project risk registers, and advanced user management systems, while also providing tools for risk reporting and historical tracking.
Risky projectenterpriseriskmanagement
- 1. Intaver Institute Inc. Project and Portfolio Risk Management with RiskyProject Enterprise Project and Portfolio Risk Management with RiskyProject Enterprise Intaver Institute Inc. 303, 6707, Elbow Drive S.W, Calgary, AB, Canada Tel: +1 (403) 692-2252 Fax: +1 (403) 259-4533 www.intaver.com
- 2. Project and Portfolio Risk Management Process 08/02/2015 Intaver Institute Inc. 2 Project Portfolio includes multiple project schedules Comprehensive risk register includes all information about risk, issues, lesson learned for the organization Open project schedule within a portfolio Assign risks from risk register to this schedule Perform project risk analysis: Monte Carlo simulations of project schedule Rank risks for the project Rank projects within a portfolio based on risk exposure Apply mitigation and response plans to the critical risks Continuously perform risk management for all project
- 3. Project Portfolio 08/02/2015 Intaver Institute Inc. 3 This is project portfolio. Each Bar represents a project. This is a list of projects within a portfolio Project risk scores for duration, cost, and other parameters (quality, safety, security, etc.) Each project within a portfolio has uncertainties which calculated as a result of Monte Carlo simulations Percent completed for each project
- 4. Portfolio risk register 08/02/2015 Intaver Institute Inc. 4 Portfolio risk register includes all portfolio risks with their properties Risks may have different probabilities, impacts, and scores Risks can be assigned to different projects and within a project to different tasks Risk register includes risks, issues, and lessons learned Risks can be open and closed. Risks can be threats, opportunities, or both
- 5. Risk Properties 08/02/2015 Intaver Institute Inc. 5 Double click on risk within a risk register and assign different risk properties Cost of risk includes potential and expect losses before and after mitigation Risk response planning Information for risk reviews
- 6. Risk Categories 08/02/2015 Intaver Institute Inc. 6 Risk can belong to different categories. The list of risk categories is fully customizable You can define relative important for each risk category Default risk categories include schedule-related categories (schedule and scope, cost and income) and non-schedule categories (safety, environment, quality, legal, performance, and technology)
- 7. Open particular project 08/02/2015 Intaver Institute Inc. 7 Double click on the project within a portfolio and open project schedule This is Gantt Chart of a project schedule This Project becomes current: youThis Project becomes current: you may now edit this schedule
- 8. Assign Risks to Tasks and Resources 08/02/2015 Intaver Institute Inc. 8 This is corporate risk register This is current project schedule Drag this risk and drop it on selected tasks: “Delay due to weather” will affect task “Drilling”
- 9. Define Risk Probability and Impact 08/02/2015 Intaver Institute Inc. 9 When you drop risk on tasks you can define risk probability and impact This risk cause fixed delay on 3 days (12% chance) and quality problems This risk belongs to two categories: schedule and quality
- 10. Assigning Uncertainties 08/02/2015 Intaver Institute Inc. 10 You may also define risk uncertainties in form of statistical distributions for cost, income, duration and start time This is statistical distribution for the duration of the selected tasks
- 11. Monte Carlo Simulations 08/02/2015 Intaver Institute Inc. 11 Now you can perform Monte Carlo simulations This is original project schedule (no risks) This is project schedule with risks: the project takes much longer Six risks are assigned to this task
- 12. Project cost with risks 08/02/2015 Intaver Institute Inc. 12 Project cost with risksProject cost without risks Actual cost
- 13. Probabilistic project cash flow 08/02/2015 Intaver Institute Inc. 13 Monthly cash flow with risksMonthly cash flow without risks Project NPV and IRR
- 14. Risk register for individual project 08/02/2015 Intaver Institute Inc. 14 This is a risk register for individual project. The list of risks is the same as for portfolio but probabilities and impacts are different These risks are not assigned to this project
- 15. View results of risk analysis in project portfolio 08/02/2015 Intaver Institute Inc. 15 When you save individual project all results on Monte Carlo simulation will be saved in the database Double click on each project bar within a portfolio Gantt Chart to view results of Monte Carlo simulations
- 16. Risked Projects 08/02/2015 Intaver Institute Inc. 16 This chart shows project duration or cost vs. risks This is the riskiest project
- 17. Portfolio risk matrix 08/02/2015 Intaver Institute Inc. 17 Risks with a red area of the matrix need to be mitigated Arrows represent mitigation: probability and impact of risks will be reduced due to mitigation efforts
- 18. Managing Mitigation Plans 08/02/2015 Intaver Institute Inc. 18 All mitigation and response plans for project portfolio are saved in the database and shared for all risks in the portfolio Each mitigation plan has cost which is used in risk cost calculation You can assign these plans to the risks
- 19. Defining Mitigation Plans 08/02/2015 Intaver Institute Inc. 19 You can assign mitigation plans from the list of available plans This is risk waterfall diagram: risk probabilities and impacts are reducing over time
- 20. Risk History 08/02/2015 Intaver Institute Inc. 20 Information how risk is changing over time is saved in the database What user made the change New probabilities and impacts The table shows in what project the changes are made
- 21. Risk Reviews 08/02/2015 Intaver Institute Inc. 21 Risk can be regularly reviewed. Review information can be recorded Reviews can be scheduled on a regular basis
- 22. Risk Documents 08/02/2015 Intaver Institute Inc. 22 You may assign documents to the risk Documents can be in different formats
- 23. Risk Approval Process 08/02/2015 Intaver Institute Inc. 23 The user may not have permissions to enter risk directly to portfolio risk register. Manager can make hidden risk visible: the risk will be available for the portfolio In this case the user will enter risk as hidden for other users and manager will change status to visible: it constitutes an approval process Hidden Risk
- 24. Risk Report 08/02/2015 Intaver Institute Inc. 24 RiskyProject generates detailed customizable risk report Report settings are saved in the database
- 25. User Management System 08/02/2015 Intaver Institute Inc. 25 RiskyProject has advanced user management system Different users can be assigned to different projects Users will have different roles and permissions.
- 26. 08/02/2015 Intaver Institute Inc. 26 Additional Resources • White Papers and Articles: http://www.intaver.com/index-whitepapers.html • Online Tutorials: http://www.intaver.com/index-tutorial4.html • Project Decisions: http://www.projectdecisions.org • YouTube Channel: https://www.youtube.com/channel/UCh3WQGV3vQAR0kdTJPlNwvQ ContactDetails Michael Trumper Intaver Institute Inc. mtrumper@intaver.com 403.692.2252 Project Think: Why Good Managers Make Poor Project Choices Project Decisions: The Art and Science Introduction to Project Risk Management and Decision Analysis