New features

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.

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David
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Location: UK

New features

Postby David » Mon Jan 21, 2008 12:39 pm

I heard that RiskyProject 3 supposes to come up Q1, 2009. Could list new features of tis release?
Last edited by David on Tue May 27, 2008 5:55 pm, edited 1 time in total.
PMP, M.Sc.

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Postby Intaver Support » Mon Jan 21, 2008 12:40 pm

Here is list of RiskyProject 3 features:

1. Project management with risk and uncertainties using Critical Chain (CCPM)
- calculation of the buffer based on risk and uncertainties in display view: buffer vs time
- view chance of completion vs. time

2. Multiple baselines, will be used to CCPM. Multiple baselines can be taken from MS Project

3. Probabilistic calendars for projects and each resources

4. Probabilistic resource allocation and resource leveling. Resource sheet view will be used to show resource allocation for each resource during time, at it is done in MS Project. It will require split tasks, which will be implemented the same way as in MS Project.

5. Implement fixed work, fixed duration, and fixed units business rules as it is done in MS Project. Work can also have uncertainties. Currently we use fixed units only. MS Project information related to fixed work, duration, and units will come from MS Project or will be defined in RiskyProject.

6. Improved integration with MindJet's MindManager.

7. Improved UI:
- it will be possible to change datasheet separately from the view as it is done in MS Project. For example, cost data sheet can be presented with or without Gantt chart.
- it will be possible to customize set of views in the workflow bar (left side of RiskyProject).

8. Improved probabilistic and conditional branching

9. Improved visual tools to elicit judgment about probabilities:
- pie chart with alternatives for all risks (50% one outcome, 25% another outcome, 25% third outcome).
- risk wizard, which would help with risk identification.

10. Export to MS Project and other project management software low and high results (e.g. P10/P90) in addition to base results.

11. Even chain diagrams for Gantt Charts

12. Net Present Value (NPV) and Rate of Return (ROR) calculation

13. New risk outcome: execute another risk. This risk outcome will be used to create risk chains (one risks cause another risk).

14. Low and high duration/cost can be defined for a group of tasks after tasks are entered. For example, low duration will be 0.9*base duration for a group of tasks.

As a result, RiskyProject 3 will be fully compatible with MS Project. Currently RiskyProject does not have fixed duration/fixed work/fixed units, split tasks, resource calendars, multiple baselines, and resource leveling.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Tomico
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Location: Naples, FL

Postby Tomico » Wed Mar 12, 2008 1:27 pm

Are you planning to implement multiple no schedule risks (quality, safety, etc.)?

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Postby Intaver Support » Wed Mar 12, 2008 1:29 pm

Yes, We will have a customizable list of risk categories and risk outcome. We will perform quantitative analysis of non-schedule risks using analytical hierarchy process.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

J.Carmel
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Joined: Sun Mar 30, 2008 9:45 pm
Location: USA

Postby J.Carmel » Thu Apr 03, 2008 11:52 am

I'm looking for the tool, which would help me in calculating cash flow based on information regarding tasks with associated resources. I also have fixed labor and material cost. I need to do cash flow calculation both deterministically and stochastically.
J.Carmel

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Postby Intaver Support » Thu Apr 03, 2008 11:55 am

RiskyProject 3 will have view cash flow view. I will include calculation of NPV and ROR as well as cash flow table with different periodicity. We will also introduce a cash flow chart. It will present baseline (deterministic) and results (probabilistic) cash flow. Probabilistic cash flow will have bars associated with low/base/high value.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Intaver Support
Posts: 771
Joined: Wed Nov 09, 2005 9:55 am

RiskyProject 3: List of features

Postby Intaver Support » Fri May 02, 2008 4:39 pm

Some our clients asked us to clarify new features of RiskyProject 3:

Here is list of RiskyProject 3 features:

1. Full risk register view: searchable list of risks with properties:
- general information (name, owner, date, etc.)
- assignment (local to specific tasks or resource, global), probabilities and outcomes
- mitigation plans
- risk correlations
Risk register will be populated using risk wizard. Risk wizard would help with risk identification process. Also RiskyProject 3 offers improved visual tools to elicit judgment about probabilities. It includes pie chart with mutually exclusive risk alternatives for all risks (50% one outcome, 25% another outcome, 25% third outcome).

2. Multiple baselines. Different baselines will be associated with different mitigation plans. It will help to determine efficiency of the mitigation efforts.

3. Risk Probability/Impact matrix: so called 5x5 matrix; it will be fully customizable. Probability and impact matrix will be able to present all type of risks.

4. Non schedule risks: quality, safety, performance, technology and other outcome. List of risk outcomes will be customizable.

5. Trade-offs. The user would be able to set a matrix of preferences (safety vs. cost, environment vs. duration) for different risk outcomes.

6. Improvements to existing risk mitigation/response plan. It will be possible to execute small schedule as mitigation and response efforts of certain risk occurs. For example, if risk flood occurs, small schedule will include multiple clean up activities.

7. Improving existsting work management: fixed work, fixed duration, and fixed units business rules as it is done in MS Project.

8. Improved UI: Simginifican number of usability improvements:
- it will be possible to customize set of views in the workflow bar (left side of RiskyProject).
- new workflow tab 'risks' for professional version.

9. Improved probabilistic and conditional branching

10. Export to MS Project and other project management software low and high results (e.g. P10/P90) in addition to base results. It will be possible to export particular baseline.

11. Event chain diagrams for Gantt Charts

12. Net Present Value (NPV) and Rate of Return (ROR) calculation. RiskyProject 3 will have a new view for probabilistic cash flow analysis.

14. Low and high duration/cost can be defined for a group of tasks after tasks are entered. For example, low duration will be 0.9*base duration for a group of tasks.

15. Probabilistic calendars for projects and each resources
Last edited by Intaver Support on Tue May 27, 2008 6:04 pm, edited 1 time in total.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

David
Posts: 15
Joined: Tue Jan 15, 2008 4:33 am
Location: UK

Postby David » Tue May 27, 2008 5:56 pm

It looks it you suppose to release full risk management system with risk register. Is it correct?
PMP, M.Sc.

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

Postby Intaver Support » Tue May 27, 2008 6:07 pm

David,

You are correct. New RiskyProject 3 will have full risk register on your desktop and integrated schedule risk analysis. Moreover RiskyProject 3 will perform quantitative analysis for non schedule risks (quality, safety, ...) together with cost and duration risks. Network version of RiskyProject with database will released this year as a new product.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

caprica
Posts: 3
Joined: Wed Jun 25, 2008 9:36 pm

Postby caprica » Thu Jul 24, 2008 7:31 pm

Hi,

I know you probably get asked this question all the time, but is there any update on when risky project 3 is likely to be available?

thanks

Intaver Support
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Postby Intaver Support » Fri Aug 22, 2008 3:36 pm

We have integrated many special requests for our key clients. We caused some delay for RiskyProject 3 the release. However we are happy to tell you that we are currently doing alpha testing of new software. Our goal is to have a full commercial release not later than October 18, 2008 for PMI Global Congress North America 2008 in Denver. Beta version would be available around September 2008.

RiskyProject 3 represents very significant step forward towards full enterprise risk management system. All existing clients of RiskyProject 2.x would receive RiskyProject 3 free of charge.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Intaver Support
Posts: 771
Joined: Wed Nov 09, 2005 9:55 am

Postby Intaver Support » Tue Nov 18, 2008 1:17 pm

RiskyProject alpha version was release November 10, 2008. Please visit: http://www.intaver.com/riskyproject_presentations.html for the preview of RiskyProject 3 new features. RiskyProject 3 Beta will be released November 28, 2008.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Intaver Support
Posts: 771
Joined: Wed Nov 09, 2005 9:55 am

Postby Intaver Support » Fri Dec 19, 2008 5:00 pm

Intaver Institute Inc. released RiskyProject version 3. RiskyProject 3 includes the following features:

- Risk register: manage threats, opportunities, and issues using fully searchable risk register
- Analysis of multiple risk mitigation plans: select what plan would be most effective in your project
- You may now perform quantitative analysis of non-schedule risks (quality, safety, performance ...)
- Multiple baselines can be used for mitigation analysis
- Risk probability vs. impact matrix
- Probabilistic calendars
- Probabilistic cash flow analysis including NPV and ROR calculation
- Event chain diagrams
- ... and more
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

Parma Let
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Joined: Thu Jan 08, 2009 7:22 am
Location: UK

Postby Parma Let » Fri Feb 13, 2009 7:25 pm

We have a number of project where we have some risks not necessary related to the project schedule. For example, we have safety, technology, PR, and other risks. Can we perform the such risk analysis using new release of the software?

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

Postby Intaver Support » Fri Feb 13, 2009 8:09 pm

RiskyProject 3 is designed for such types of analysis. We apply methodology derived from Analytical Hierarchy Process (AHP). We perform pair-wise comparison. This way we determine weight for each risk. For example, if there is a safety risk and cost risk you may enter that safety is 4 times more important than cost. RiskyProject will use these weights to calculate impacts for each risk and as a result rank these risks based on score = probability * impact. These risks can be presented on 5x5 risk matrix. To perform such analysis you don't need necessary actual project schedule.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com


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