RiskyProject Software
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RiskyProject is a Windows-based project risk management software developed by Intaver Institute Inc., designed to help project managers assess potential risks and their impacts on project schedules and costs through features like a risk register, Monte Carlo simulations, and integration with other project management tools. The software allows for both qualitative and quantitative risk analyses to enable effective mitigation planning and tracking of project performance. Additionally, it provides advanced reporting tools and a user-friendly interface to facilitate risk management workflows compatible with established methodologies like PMI and PRINCE II.
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 1 2012IntaverInstitute05/06/14
- 2. What Is RiskyProject? • Project Scheduling • Risk Register • Quantitative risk analysis using Monte Carlo simulations • Project performance measurement 2 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? 2012IntaverInstitute05/06/14
- 3. The Project Management Problem 2012IntaverInstitute05/06/14 3
- 4. The Project Management Problem 2012IntaverInstitute05/06/14 4
- 5. The Project Management Problem 2012IntaverInstitute05/06/14 5
- 8. RiskyProject Features • Full scheduling engine with costs and resources • Full risk register that links to project schedules • Quantitative and qualitative analysis • Risk+ replacement • 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 2012IntaverInstitute05/06/14 8
- 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 2012IntaverInstitute05/06/14 9
- 11. RiskyProject Workflow 2012IntaverInstitute05/06/14 11RiskyProject’s workflow is compatible with PMI, Prince II, and other risk management processes
- 12. Define Project Schedule Enter complete WBS, as it is done in other project management software Enter resources, cost and income for each task You may also import project schedules from other scheduling tools, such as Microsoft Project or Primavera. 2012IntaverInstitute05/06/14 12
- 13. Risk Register Pre mitigation Probability, Impact, and Score Post mitigation Probability, Impact, and Score Risk register view Separate opened and closed risk and issues Separate threats or opportunities 2012IntaverInstitute05/06/14 13
- 14. Risk Form 14 Risk description and status Cost of Risk Management Strategy Review Timeline Double-click on a risk to view or modify Risk Information 2012IntaverInstitute05/06/14
- 15. Qualitative Risk Analysis: Define Risk Probabilities and Impacts 15 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 2012IntaverInstitute05/06/14
- 16. Mitigation Plans 16 Add mitigation or risk response plans (cost, expected reduction in probability and impact, an descriptions. Plans can have sub-plans 2012IntaverInstitute05/06/14
- 17. Mitigation Waterfall Chart 17 Track total cost, expected reductions in probability or impact and dates for mitigation plans 2012IntaverInstitute05/06/14
- 18. Risk Reviews and Risk History 18 All risk reviews with details can be saved and tracked in system 2012IntaverInstitute05/06/14
- 19. Assign Risks to Tasks and Resources Define risk chance, outcome and result. Risks can have mutually exclusive outcomes, different outcomes of the same risk Risks can be global (for all tasks or resources) or local (for specific tasks or resources) 2012IntaverInstitute05/06/14 19 If schedule is attached, quantitative risk assessments is performed
- 20. 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 2012IntaverInstitute05/06/14
- 21. Monte Carlo Simulation When your project schedule and risk breakdown structure is ready, click here to perform Monte Carlo simulations 21 2012IntaverInstitute05/06/14
- 22. Result Gantt Chart White bars represent original project schedule (no risks) Blue bars represent project schedule with risks Compare original project schedule and result of analysis 22 2012IntaverInstitute05/06/14
- 23. 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 23 2012IntaverInstitute05/06/14
- 24. 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. Detailed results can be shown for each task or project for cost, duration, start time, finish time, and income. 24 2012IntaverInstitute05/06/14
- 25. Cost vs Schedule Scatter Plot Move the slider to determine the chance of meeting both schedule and budget Base Estimate indicated by yellow dot 25 2012IntaverInstitute05/06/14 This plot is often referred to as the “Bull’s eye” or “Football” chart
- 26. Cost, Income and Revenue Compare forecasted project costs with (blue line) and without (red line) risks Cost chart is generated based on fixed and variables cost and income associated with tasks and resources 26 2012IntaverInstitute05/06/14
- 27. Probabilistic Cash Flow Analysis Compare cash flows with (blue bars) and without (red line) risks Cash flow is generated based on fixed and variables cost and income associated with tasks and resources 27 2012IntaverInstitute05/06/14
- 28. Sensitivity Analysis Tornado chart shows risks or other parameters that have the most affect on the project schedule Prioritize critical task or risks 28 2012IntaverInstitute05/06/14
- 29. Crucial Tasks Crucial tasks have the most effect on the project schedule Crucial tasks for project cost and duration can be different 29 2012IntaverInstitute05/06/14
- 30. 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 2012IntaverInstitute05/06/14
- 31. Risk Matrix Risk Probability, Impact and Score for the current schedule 31 2012IntaverInstitute05/06/14
- 32. 2012IntaverInstitute 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 05/06/14
- 33. 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 2012IntaverInstitute05/06/14
- 34. 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 2012IntaverInstitute05/06/14
- 35. Select pre and post mitigation baselines to view on risk register Pre and post mitigation risk scores 35 2012IntaverInstitute05/06/14 Advanced Project Risk Management
- 36. Select the current schedule Compare results for each baseline 36 2012IntaverInstitute05/06/14 Advanced Project Risk Management
- 37. Advanced Project Risk Management Run alternative project branches probabilistically 37 2012IntaverInstitute05/06/14
- 38. Integration with Project Management Software 38 Risk tab installed on Microsoft Project ribbon allows users move projects seamlessly into RiskyProject 2012IntaverInstitute05/06/14 RiskyProject can import schedules from Oracle Primavera and other project management software.
- 39. Intaver Institute’s Services Intaver Institute performs project risk management, risk analysis, and decision analysis training and consulting Popular Intaver’s training courses include: • Project management: theory and best practices • Introduction to project risk management: theory and case studies • Project decision analysis • Quantitative methods in project management • Introduction to RiskyProject: basic RiskyProject workflow and features • Advanced features of RiskyProject Professional 39 2012IntaverInstitute05/06/14