About Assigning  Risks and Uncertainties


RiskyProject has two types of risks:

Risks have the following properties:

Outcome

Description

  

No Impact

This is for information only and has no impact on project schedule the timing and sequence of task within a project. A schedule contains tasks with dependencies, as well as other project information.

  

Relative Delay

Fixed Delay

Durations will be expanded in the period, defined in the Result field regardless of, when the risk occurs. If the Result is negative, the task duration Duration: The total span of working time required completing task or whole project. Task duration can be input in months, weeks, days, hours, and minutes, as it is specified in Options dialog box (Duration tab). Internally duration is calculated in hours. Duration is calculated using current calendar. will be reduced.

Relative Increase Cost

Fixed Cost Increase

Task costs are increased by the amount, defined in the field Result regardless of when the risk occurs. If the Result is negative, costs are reduced.

  

Relative Income Increase

Fixed Income Increase

Works in a similar manner to fixed cost increase and relative cost increase, but applied to the income.

 

Restart Task

Tasks are restarted from the moment the  risk occurs. As a result, the task duration is increased.

End Task

Tasks are successfully completed when the risk occurs. As a result, the task duration is reduced.

Cancel Task

Tasks are canceled when the risk occurs. As a result, the task duration is reduced and the task is marked as canceled.

  

Cancel Task + all successors

Tasks and all its successors are canceled when the risk occurs. As a result, the task duration is reduced and the task and all its successors are marked as canceled.

Execute Mitigation Plan

Result field for this risk contains a drop down list with mitigation plans. They come from Risk Mitigation view. If task has multiple local and global risks which require execution of the particular mitigation plan, this mitigation plan will be executed only once.

 

 

Risk Alternatives

One risk can have different outcomes or different results of outcomes. For example, if a risk occurs there is a 10% chance the task will restart, and 10% chance that the task will be canceled. To define a risk with alternate outcomes, use the same risk name for the consecutive items. RiskyProject will automatically recognize that this is a discrete outcome of the same risk.  Each outcome will be given a number (starting at 1) and all will be colored green in the Risk Alternative column (read only). 

Start,Most Likely, and Finish times are entered as a percentage of total task duration starting from beginning of the task.

For example:

Tips:

See also

Overview of RiskyProject Workflow

What is RiskyProject?

RiskyProject Desktop