Project Risk Analysis Software and Project Risk Management Software Forum

Where can I change statistical distribution for risk outcomes?

In schedule risk analysis risk events may have outcomes, defined by statistical distribution. First you need to enable statistical distribution for risk outcome. It is done in Schedule -> Project Options -> Risk tab. You will see a check box "Enable statistical distribution for risk outcome". Then you need to go to any risk assignment views or dialogs. For example, it can be done in Task Information Dialog (Risk tab). To see this dialog you may go to any task view and double click on Task ID and go to Risk Tab. If you have any risks, which have outcomes such as Fixed or Relative delay you may define low and high delay, and statistical distribution for the delay. You may need to scroll the grid within a risk tab to be presented see a drop down box for the statistical distribution.

Some statistical distributions require entering some parameters. To update parameters of your statistical distribution of risk outcome double click on risk assignment ID within the same grid. You will be presented with Risk Assignment dialog. Then go to Distribution tab. Please note, that you will be able to change distribution parameters only if you define low and high outcome. For example you define relative delay. Your low outcome will be 10%, your high outcome will be 22%. Now you can define Beta distribution, which will represent these outcomes.