RiskyProject Software
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RiskyProject is project risk management software that allows users to: 1) Create a risk register to track project risks and mitigation plans. 2) Perform quantitative risk analysis through Monte Carlo simulations to forecast project schedule and cost considering risks. 3) Track project performance and adjust forecasts over time as the project progresses and more information becomes available.
RiskyProject Software
- 1. RiskyProject Project Risk Management Software Intaver Institute Inc. 303, 6707, Elbow Drive S.W, Calgary, AB, Canada Tel: +1 (403) 692-2252 Fax: +1 (403) 459-4533 www.intaver.com 4280 East Tamiami Trail, 302-M, Naples Florida, 34112, USA Tel: +1(510) 984 3527
- 2. What Is RiskyProject? • Project Scheduling • Risk Register • Quantitative risk analysis using Monte Carlo simulations • Project performance measurement RiskyProject is Windows-based project risk management software. Risky Project gives you a simple answer to a common question: What will happen to your project if certain risks occur?
- 3. The Project Management Problem • Budget • Schedule • Quality • Safety • Technology • Other measures Projects consistently fail to meet:
- 4. The Project Management Problem Reasons • Human psychological limits • Inadequate training • Poor processes • others 4
- 5. The Project Management Problem Key Project Management Issues • How to estimate project duration or cost? • What are the most critical risks and how to mitigate them? • How to measure project performance? • How to make an informed decision about future course of the project?
- 6. The RiskyProject Solution Project risk management made simple • RiskyProject is consistent with PMI PMBOK. Risky Project supports the full project risk management process. • RiskyProject is very easy to use. RiskyProject is uses a scheduling interface similar to other project popular project management tools. • RiskyProject has low implementation and support costs. Compared with the comparative products, RiskyProject provides unmatched value
- 7. The RiskyProject Solution Project risk management for Project Managers • Provide state of art quantitative project risk management tools • Low cost • Ease of implementation • Limited initial training required • Scalable 7
- 8. RiskyProject Features • Full scheduling engine with costs and resources • Full risk register that links to project schedules • Quantitative and qualitative analysis • Easy to use quantitative schedule risk analysis based on risk events • Probabilistic cash flow analysis • Project tracking with risks and uncertainties • Integration with Microsoft Project, Primavera, or other project management software • Optional decision tree analysis • Analysis of critical risk events, which need to be mitigated first
- 9. RiskyProject Features (Continued) • Product lifecycle management • Risk templates • Probabilistic and conditional branching • Managing mitigation plans • “What if “ analysis • Advanced reporting tools • Risk event correlations • Multiple statistical distributions and distribution fitting 9
- 10. RiskyProject uses common PM artifacts • WBS • Resources • Costs • Risk Register or Risk Lists RiskyProject Workflow
- 11. RiskyProject Workflow RiskyProject’s workflow is compatible with PMI, Prince II, and other risk management processes
- 12. Define Project Schedule You may also import project schedules from other scheduling tools, such as Microsoft Project or Oracle Primavera. Enter resources, cost and income for each task Enter complete WBS, as it is done in other project management software
- 13. Risk Register Pre mitigation Probability, Impact, and Score Post mitigation Probability, Impact, and Score Separate opened and closed risks, risk, issues, lessons learned Separate threats or opportunities Risk register view
- 14. Risk Form Risk description and status Cost of Risk Management Strategy Review Timeline Double-click on a risk to view or modify Risk Information
- 15. Qualitative Risk Analysis: Define Risk Probabilities and Impacts If no schedule is attached, qualitative risk assessments can be performed Outcome Types are now qualitative Outcomes for risk categories are qualitative and are based on risk matrix settings
- 16. Mitigation Waterfall Chart Track total cost, expected reductions in probability or impact and dates for mitigation plans Compare actual and planned mitigation efforts
- 17. Risk Reviews and Risk History All risk reviews with details can be saved and tracked in system Information about risk reviews Next review timing
- 18. Assign Risks to Tasks and Resources Define risk chance, outcome and result. Risks can have mutually exclusive outcomes, different outcomes of the same risk Drag and drop risk on particular task or group of tasks If schedule is attached, quantitative risk assessments is performed
- 19. Statistical Distributions In addition to risk events you may define uncertainties as statistical distributions for: • task cost • task start time • task duration • income associated with task If you enter only the low, base and high cost, duration, start time and income, RiskyProject will generate statistical distribution based on this data
- 20. Monte Carlo Simulation When your project schedule and risk breakdown structure is ready, click here to perform Monte Carlo simulations
- 21. Result Gantt Chart White bars represent original project schedule (no risks) Blue bars represent risk adjusted project schedule (with risks and uncertainties) Compare original project schedule and result of analysis
- 22. Results of Risk Analysis Project Summary: project duration, cost, and finish time with and without risks Results of analysis for project cost, finish time, and duration Double click on any chart to view detailed information The meters show project risk score for cost and duration
- 23. Detailed Results of Analysis Move the slider to determine the chance that project will be within budget Get detailed statistical data Data can be exported as an image or text Detailed results can be shown for each task or project for cost, duration, start time, finish time, and income.
- 24. Cost vs Schedule Scatter Plot Move the slider to determine the chance of meeting both schedule and budget Base Estimate indicated by yellow dot This plot is often referred to as the “Bull’s eye” or “Football” chart
- 25. Cost Analysis Project cost with risks (blue line) Cost chart is generated based on fixed and variables cost and income associated with tasks and resources Project cost without risks (red line)
- 26. Probabilistic Cash Flow Analysis Cash flow with risks (blue bars) Cash flow is generated based on fixed and variables cost and income associated with tasks and resources Project cost without risks (red line)
- 27. Sensitivity Analysis Tornado chart shows risks or other parameters that have the most affect on the project schedule Prioritize critical task or risks
- 28. Crucial Tasks Crucial tasks have the most effect on the project schedule Crucial tasks for project cost and duration can be different Crucial tasks are red
- 29. Risk Chart Risk chart shows task duration and versus risk, associated with task This task has low duration but high risk These tasks have balanced risk versus duration ratio.
- 30. Risk Matrix Risk Probability, Impact and Score for the current schedule 30 The arrow represents risk mitigation
- 31. Project Dashboard 3x3 3 most important project parameters (cost, duration, and finish time) 3 most crucial tasks 3 most critical risks Project Dashboard 3x3 is a condensed view of the most important results of analysis
- 32. Project Tracking This task is 100% completed (green bar) For each task at any moment you may enter how much work has been completed This task is partially completed (yellow bar) Risky project automatically adjusts the probability of risks for partially completed tasks
- 33. Tracking Results New project forecast is done each time actual project data is entered. Original (baseline) project duration Actual project performance Low, base, and high forecast
- 34. •Risk Register allows you to compare pre and post mitigation risk scores for different baselines View mitigation efforts Select pre and post mitigation baselines to view on risk register Pre and post mitigation risk scores Advanced Project Risk Management
- 35. • View results for each baseline • Select the working schedule that you will use to manage the project Compare different baselines Select the current schedule Compare results for each baseline Advanced Project Risk Management
- 36. Advanced Project Risk Management • Model different scenarios when project activities are uncertain • Calculate Expected Value of project given uncertainties in project activities Conditional and Probabilistic Branching Run alternative project branches probabilistically
- 37. • Model non working days due to weather Advanced Project Risk Management Weather Calendar Non working days due to weather Weather calendar settings: number of non-working days due to weather each month
- 38. Integration with Scheduling Software RiskyProject’s Add –in installed on the Microsoft Project ribbon allows users move projects seamlessly into RiskyProject RiskyProject can import schedules from Oracle Primavera and other project management software. Microsoft Project RiskyProject Add-in for Microsoft Project