RiskyProject has two types of risks:
Global a stochastic event, which affects all tasks or resources in the project. Global risks are defined in the Risk View. – for all task An activity or job which has a start date and time, an end date and time, a duration, and other properties. A Project is comprised of tasks. or resources Resources: People and materials used to complete tasks. in the project
Local a stochastic event, which affects a particular task or resource. Local risks are added using the Task Information dialog box for tasks or the Resource Information dialog box for resources. You can also use the Local Risk List dialog box to define local risks for tasks. The Local Risks dialog box can be opened from the shortcut menu in any views with tasks, as well as from the Project > Risks in Task menu. - for particular task or resource
Click here to read about how to define risks and uncertainties
Risks have the following properties:
Risks can be assigned to Tasks or Resources
Risks are defined by the chance of occurrence (from 0% to 100%). The chance can be defined per task (by default) or per duration unit. For example, if there is a 30% chance that task can be restarted per day. If task duration is 2 days, the chance of the risk occurring per task is 60%.
This chance calculation option is defined for all tasks and resources for the project in the Risk tab of the Options dialog box:
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Outcome |
Description |
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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. |
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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. |
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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. |
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Relative Income Increase Fixed Income Increase |
Works in a similar manner to fixed cost increase and relative cost increase, but applied to the income. |
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Restart Task |
Tasks are restarted from the moment the risk occurs. As a result, the task duration is increased. |
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End Task |
Tasks are successfully completed when the risk occurs. As a result, the task duration is reduced. |
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Cancel Task |
Tasks are canceled when the risk occurs. As a result, the task duration is reduced and the task is marked as canceled. |
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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. |
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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. |
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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