Configuring Monte Carlo Simulations in RiskyProject

[Intaver Support]

Monte Carlo simulations are at the heart of quantitative risk analysis in RiskyProject Professional. Proper configuration ensures accurate probabilistic forecasts for schedules and costs. Here's a detailed guide:
1. First, ensure your project schedule is loaded (import from MS Project if needed via the add-in).
2. To enable simulations, go to Schedule tab > Settings > Options > Risk tab and check Enable statistical distribution for risk outcomes.
3. Simulation settings: In Schedule tab > Options > Calculation tab, set max iterations (600+ recommended for low-probability risks, up to 30,000), enable convergence monitoring (stop when mean/SD stabilizes within a threshold), and choose a seed (auto-generated is fine).
4. Optional: Enable critical path calculation (slower but useful) and uncertainty bands for tasks (right-click tasks > Assign Uncertainty).
5. Run the simulation by clicking Calculate—monitor the progress bar.