Can you risk resource costs

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
remerson risk analysis
Posts: 8
Joined: Wed Feb 07, 2007 1:55 pm
Location: Ottawa, ON

Can you risk resource costs

Post by remerson risk analysis » Sun Oct 25, 2015 12:28 pm

In the Assign to Tasks or Resources view in the Risk Register, we have added a risks to a resource. One is a schedule risk, but the other involves the cost of the risk. We assigned a fixed cost risk, but do not see any impact from after performing the monte carlo risk analysis. Are we doing something wrong?

Intaver Support
Posts: 888
Joined: Wed Nov 09, 2005 9:55 am

Re: Can you risk resource costs

Post by Intaver Support » Sun Oct 25, 2015 12:33 pm

You can risks resources costs in two ways, but not using the “relative or fixed’ cost increase as these only apply to costs that are entered into the Cost and Income View.

The first method is via time dependent costs where you apply a duration risk (fixed or relative) to a resource. This schedule increase will cause proportional increase (or decrease if it is an opportunity) every time the risk occurs during the simulation. The second method is to apply a risk to the resource rate. The rates are defined in the Resource view. To assign a risk to that rate, you must open the Resource Information dialog box and click the Risks tab. There you can either enter a new risk or clicking in an empty row and selecting a risk from the drop-down list. Once you have entered the chance, select Rate increase from the list of outcome types. The rate increase can modeled as any other risk: as a single outcome or as a statistical distribution.

Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject

Post Reply