Setting up calculation options
You define default calculation parameters in the
- Click the Schedule tab. In the Settings group,
- Click the Units tab.
- Select the default calculation option from the Default Calculation for Projects.
- Enter the maximum number of simulations that will be run in the Maximum number of simulations box.
- Enter the convergence parameters in the boxes provided. Simulations can be stopped when they convergence equals these values.
- Select the meaning of low and high results. For example, if you check P10 and P90 it will mean that low start time result of the simulations is actually 10th percentile of the distribution. You may choose specific percentile for Low and High results for example P30 will be associated with low results and P70 will be associated with High results.
- Define minimum sensitivity coefficient for sensitivity view. If a sensitivity
coefficient is less than the defined value, it will appear as zero in the
sensitivity view. For example, minimum sensitivity coefficient is 0.16. A
sensitivity coefficient for a particular task's duration and project duration
equals 0.1. Sensitivity coefficient for this task will be set to zero and this
task will not be ranked in the sensitivity view.
Defining the maximum number of simulations
Based on our experience with real project schedules, the results converge normally between 400 and 700 simulations. However, in projects where there are risks with a very small change of occurrence, the number of simulations should be increased. For example, if there is risk with chance of occurrence of 0.1%, the number of simulations should be at least 1200. Maximum number of simulation is 30000.
- Small projects are defined by the number of tasks and number of simulations. RiskyProject automatically adjusts definition of a small project based on your computer's performance.
- If Monte Carlo simulations are not done automatically, you can perform them at any time by clicking the Calculate button on the toolbar.
Defining the number of simulations
Setting up cost defaults
Cost, Income, and Revenue Calculations in RiskyProject