Project Risk Analysis Software and Project Risk Management Software Forum

Hey forum, I'm configuring the risk management system in RiskyProject Professional and need help with setting up Monte Carlo simulations. How do I enable distributions and set parameters

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.