Project success rate

General discussion and questions about project risk management and risk analysis software RiskyProject. Includes discussion on how to perform efficient project risk analysis using our software.

Moderator: Intaver Support

Post Reply
Monte Carlo
Posts: 11
Joined: Sat Jun 16, 2007 7:03 pm
Location: USA

Project success rate

Post by Monte Carlo » Tue Sep 29, 2015 3:17 pm

How does RiskyProject calculates project success rate?
Project Manager

Intaver Support
Posts: 847
Joined: Wed Nov 09, 2005 9:55 am

Re: Project success rate

Post by Intaver Support » Wed Sep 30, 2015 11:17 am

Project success rate is calculated if project reaches Earliest Project Deadline, Latest Project Deadline, of Maximum Project Duration as a result of schedule risk analysis. Here is how these deadlines are defined:

Image

To access this dialog box please click on Schedule -> Project Settings. These settings don't affect deterministic calculations (without any risks and uncertainties). They are only applied to Monte Carlo simulations. Here is how everything works. Let's assume that you define Maximum Project Duration as 1 year. During Monte Carlo simulations in 650 iterations calculated mean project duration exceeds 1 year and for remaining 350 iterations duration is less than 1 year. In this case project success rate will be 35%. Essentially it is a project deadline. Please note that you in some cases start time of the project can also affect success rate of the project. For example, you have Start-Finish links between predecessor and successor for some tasks. For this purposes we have Earliest Project Deadline. In such cases, project cannot start later than certain date and if it starts later on the certain iteration on Monte Carlo simulations, success rate will be reduced.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Post Reply