Project Risk Analysis Workflow

Assign Risks and Uncertainties

Creating a Risk List is an important step in RiskyProject. Risks can be assigned to a task or a resource. The Risk List can be local (for each task or resource), or global (for all tasks and resource in the project). Each risk has a number of properties. Risks are defined by name, chance of occurrence, and outcome (e.g. increase cost, cancel project, etc.). Risks can also be defined by when they are most likely to occur using distribution types and the entering the points, as a percentage of task completion, when the risk starts and finishes.

RiskyProject allows you to define uncertainties and task duration cost, start and finish times, as well as lag time between predecessors and successor using statistical distribution. To add uncertainties you enter low, base, and high estimates for a variable (e.g. duration). You can assign Uniform, Triangular, Normal, Lognormal, Beta, BetaPert, Gamma, and other distributions to this variable.  

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