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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.
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