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Project Risk Management and Decision Analysis 

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Risk Chart

The Risk chart shows risks associated with tasks versus task duration or cost. The risk is expressed as:
•  task standard deviation of task duration or cost
•  maximum or minimum values
•  ranges: the difference between maximum and minimum values
•  percentiles

In well-balanced project schedules, different tasks usually have similar level of risks. However, if risk associated with a task if higher than for tasks with similar duration or cost, these risks should be carefully analyzed and possibly mitigated. Alternatively, if task does not have significant risks and uncertainties compared with other similar tasks, it may be represent an opportunity to increase the risks for and increase benefits.

Analyzing the Risk Chart
1. Select the tasks that you want to display on the chart from the list on the left.
2. Select the project parameter option (Total Task Cost or Task Duration) option at the top of the chart.
3. Select a risk indicator from the Risk expressed as drop-down list. These are standard statistical measures such as standard deviation or percentiles.

The example below illustrates how the Risk Chart can be analyzed using “risk zones”. If you visualize these zones on your risk chart, you can clearly see which tasks are outliers and merit further examination.

Note: These zones are shown here purely for demonstration purposes and do not appear in the actual Risk Chart.


See also
Risk Matrix

Project Summary

Sensitivity Analysis

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