Search found 838 matches

by Intaver Support
Sun Oct 06, 2019 7:59 pm
Forum: Project Risk Analysis and Project Risk Management Theory
Topic: Using the risk matrix to add risk in the form of a percentage of probability of a schedule delay (or cost increase)
Replies: 1
Views: 130

Re: Using the risk matrix to add risk in the form of a percentage of probability of a schedule delay (or cost increase)

The software supports both uncertainty (aleatory risk) and events (epistemic risks). Risk events are managed in the Risk workflow and can be assigned with probability and impacts to cost and schedule (fixed or relative). We recommend the use of statistical distributions to model ranges of impacts. W...
by Intaver Support
Sun Oct 06, 2019 7:49 pm
Forum: Project Portfolio Risk Management
Topic: Modeling impact of weather related events when a weather calendar is not appropriate
Replies: 1
Views: 42

Re: Modeling impact of weather related events when a weather calendar is not appropriate

Risk assignments are calculated for each activity or resource independently and it is possible to have different probabilities and outcomes for different assignments for the same risk. So you can have the same risk “Weather”, but assign different probability and impacts to different activities based...
by Intaver Support
Sun Oct 06, 2019 7:47 pm
Forum: RiskyProject: Project risk management and risk analysis software
Topic: How does RiskyProject deal with risk probability when it is entered an index range vs %
Replies: 1
Views: 410

Re: How does RiskyProject deal with risk probability when it is entered an index range vs %

For quantitative analysis, we recommend adding probability as a “% “ as it is more accurate. Otherwise, if you use ranges or labels, it takes the middle value of the range for the analysis. For example, if you are using (1,2,3,4,5) as defined in the default matrix, each range represents 20% probabil...
by Intaver Support
Thu Aug 29, 2019 3:49 pm
Forum: Project Portfolio Risk Management
Topic: Linking summary tasks
Replies: 1
Views: 810

Re: Linking summary tasks

While we do “allow” users to link summary tasks to the precedent network, it is not recommended as a best practice. It can cause logic errors, circular paths, and also issues with critical path and sensitivity analyses. Here is a well designed video that explains why you should not link summary task...
by Intaver Support
Thu Aug 29, 2019 3:47 pm
Forum: RiskyProject Project Risk Analysis Software Issues
Topic: Calculating work with resource calendars
Replies: 1
Views: 839

Re: Calculating work with resource calendars

Work calculation occurs anytime you change the duration of a task that includes resources with resource calendars that are different from the project calendar that the tasks is using. This is due to how task duration, work, and units are calculated. When you create tasks, you must select a task type...
by Intaver Support
Thu Aug 29, 2019 3:43 pm
Forum: RiskyProject: Project risk management and risk analysis software
Topic: Non Working days and Time Dependent Costs
Replies: 1
Views: 791

Re: Non Working days and Time Dependent Costs

The answer to your question depends upon they type of project you are modeling. Non-working times that include exceptions as well as periods where work cannot be performed due to weather conditions, do not calculate work for affected resources. However, in some projects, weather delays (non-working ...
by Intaver Support
Wed Aug 07, 2019 11:18 am
Forum: RiskyProject Project Risk Analysis Software Issues
Topic: Using weather calendar vs risk events for cost analysis
Replies: 1
Views: 516

Re: Using weather calendar vs risk events for cost analysis

Weather calendars are specifically designed to model known ranges of weather-related non-working days during the execution of a project. The main effect of using weather calendars when also performing cost analysis of time dependent cost analysis using resource rates is that even though there is a w...
by Intaver Support
Wed Aug 07, 2019 11:17 am
Forum: RiskyProject: Project risk management and risk analysis software
Topic: Task Icons
Replies: 1
Views: 525

Re: Task Icons

Tasks can be identified with 6 different icons: summary tasks, summary tasks with constraints, subtasks, subtasks with constraints, subtask with notes, and subtasks with notes and constraints. These icons definitions can be viewed in the Legends pane, which can be enabled in the Tools tab, View grou...
by Intaver Support
Wed Aug 07, 2019 11:13 am
Forum: Project Risk Analysis and Project Risk Management Theory
Topic: Calculating Cost Contingency
Replies: 1
Views: 944

Re: Calculating Cost Contingency

In our methodology, cost contingency is calculated as the difference between the base estimate and a calculated percentile that is calculated from the simulation. This is referred to as “risk adjusted” cost contigency. A very common value used is P80 which means that 8 out of 10 times the cost of th...
by Intaver Support
Tue Jul 23, 2019 4:50 pm
Forum: Project Portfolio Risk Management
Topic: Sorting Risk Register
Replies: 3
Views: 2327

Re: Sorting Risk Register

In new RiskyProject 7.1 which suppose to be released very shortly we significantly improved sorting capabilities.
by Intaver Support
Tue Jul 23, 2019 4:47 pm
Forum: RiskyProject: Project risk management and risk analysis software
Topic: Importing Risk Templates to Risk Registers
Replies: 1
Views: 556

Re: Importing Risk Templates to Risk Registers

Yes you can, but a risk template will overwrite all information in a risk register. Therefore, it is better to think of how risk templates differ from risk registers. Risk templates are lists of risks with risk assignments. Assignments are composed of Type, Chance, Outcome Type, Outcome, and statist...
by Intaver Support
Tue Jul 23, 2019 4:45 pm
Forum: Project Risk Analysis and Project Risk Management Theory
Topic: Residual risk vs Unmanageable risk
Replies: 1
Views: 580

Re: Residual risk vs Unmanageable risk

This is a question we do get from people who have sat in on our webinars or read some of our blog posts as they seem to describe the same thing, but they do describe slightly different types of risk. Residual risk is the risk that will still remain after risk management activities or plans have been...
by Intaver Support
Tue Jul 02, 2019 4:10 am
Forum: RiskyProject Project Risk Analysis Software Issues
Topic: Latin Hypercube
Replies: 2
Views: 1084

Re: Latin Hypercube

In order to implement Latin Hypercube all samples for all distributions must be generated in advanced, before Monte Carlo simulations of the schedule. In includes distributions for task durations, cost, work, lags, etc. It can be done using multiple processing cores with some limitation. However it ...
by Intaver Support
Tue Jul 02, 2019 4:03 am
Forum: Project Risk Analysis and Project Risk Management Theory
Topic: Risk Factors
Replies: 1
Views: 583

Re: Risk Factors

Risk factors are way to assign uncertainties due to specific sources. Normally uncertainties are assigned to schedule or costs using three point estimates (low, most likely, and high). These uncertainties represent aleatory risk: uncertainties due to natural variance that cannot be managed. However,...
by Intaver Support
Tue Jul 02, 2019 3:56 am
Forum: RiskyProject: Project risk management and risk analysis software
Topic: Assigning risks from risk templates to tasks
Replies: 1
Views: 619

Re: Assigning risks from risk templates to tasks

If you have not yet imported the risk template into the project, if you load a risk template into a the Risk tab of the Task Information dialog box, the risks will be automatically added to the risk register. To load a risk template into Task Information > Risk tab, click Load Risk Template. http://...