Project risk management by Intaver Institute: Frequently Asked Questions

RiskyProject is a project risk management and scheduling software developed by Intaver Institute Inc. The centerpiece of RiskyProject is the uncertainty management functionalities, implemented based on our event chain methodology. You define project schedules similarly to how it is done using other project management software and then define events (risks and management actions) associated with tasks and resources. RiskyProject performs simulations and generates a risk profile of the project. For more information about RiskyProject click here.

2. Do I need Microsoft® Project or any other scheduling software to run RiskyProject?

No. RiskyProject is a stand alone scheduling application. It has all the functionality you require to create a project schedule. However, if you already have a project schedule created in Microsoft Project, you can import it to RiskyProject.

3. Can I use RiskyProject with Primavera?

Yes. You can export Primavera project schedule to RiskyProject using MPX or Microsoft Project XML formats. Primavera Suretrak can be launched directly for RiskyProject. For more information about integration RiskyProject and Primavera click here.

4. What is the Event Chain Methodology?

Event Chain Methodology was developed at Intaver Institute and is used in RiskyProject. The main idea is the multiple probabilistic events, which can be risks or management actions, will affect the project schedule. Such events can cause other events and create event chains. Some of these risks are critical in that they have the most affect on the project. It is important to note that risks may occur at anytime during the task duration. The project manager's task is to identify events and event chains and mitigate the risks. Potential events can be easily identified using historical data and during the tracking process. For more information about event chain methodology click here.

5. What is the difference between RiskyProject Lite and RiskyProject Professional?

RiskyProject Lite is an introductory level project management software. RiskyProject Lite does not require you to define input distributions for uncertainties in duration, cost, etc. Also RiskyProject Lite does not output distributions associated with results of probabilistic analysis. All complex statistical calculations are hidden. RiskyProject Lite does not allow you to perform decision analysis, does not have comprehensive Project Information view, does not have Crucial Task, Success Rate, and Tracking Gantt Views, project deadlines, and risk templates. As a result RiskyProject Lite can be used by project managers without experience in statistics and risk analysis. Click here to learn more about RiskyProject Lite and RiskyProject Professional features.

6. What types of risk events does RiskyProject support?

Both RiskyProject Lite and RiskyProject professional support the following risks:

Fixed cost increase
Relative cost increase
Fixed delay
Relative delay
Restart task
Execute mitigation plan
End task
Cancel task
Cancel task and all successors

In addition to it RiskyProject Professional has "fixed income increase" and "relative income increase" risks.

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7. How can I assign risks to different tasks and resources?

RiskyProject supports global (for all task or resources) and local (for specific tasks or resources) risks. You may define local risks using

a. Task information dialog, risks tab

b. Global risks view. You may assign global risks to many local tasks or resources at the same

For more information how assign risks to tasks and resources click here.

8. Can I define task duration using statistical distribution?

Yes, you can define task duration, start time, cost, and lag between predecessors and successors using a number statistical distributions. However you must ensure, that uncertainties defined in the distribution are due to different factors than the risks assigned to the same tasks.

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9. How does tracking in RiskyProject work?

You can enter a percent of task completion on a certain day. RiskyProject uses this information to calculate a forecasted task duration which takes into account risks and task progress. The actual chance of risk occurrence is automatically updated. You can easily compare the results of tracking with the original (baseline) project schedule.

10. How can I perform Earned Value Management using RiskyProject?

RiskyProject 2 has Cost Analysis view. This view will present you with cashflow diagrams: without risks (deterministic), with risks (probabilistic), and actual (based on tracking data). You can use slider to view cost variance as well as difference between cost with and without risk on each stage of the project. Cost Analysis view is available in both RiskyProject Lite and RiskyProject professional.

RiskyProject Purchasing and Licensing

1. How much does RiskyProject software cost?

For pricing information click here.

2. Do you have academic and corporate licensing of RiskyProject?

Yes. For more information about academic and corporate licenses please contact Intaver Institute. We offer up to 95% discount for academic licenses and offer an extended trial period. December 2007 Intaver Institute Inc. has launched university relationship program. If universities use RiskyProject software or Event Chain Methodology as part of their educational programs related to risk management or project management, Intaver Institute Inc. offers:

Technical Support Assistance
Free licenses Intaver Institute's Products for educational programs
Web Site Listing
Marketing Collateral
Coop-Marketing Opportunities

Click here for more information.

3. Do you accept credit cards for payments?

Yes. We accept Visa and MasterCard. You can use our online store to purchase RiskyProject. We are also accept cheques and money orders that are accompanied by a purchase order.

4. How RiskyProject is licensed?

RiskyProject license is required for each computer. To obtain a license please visit our online store. You read RiskyProject software licensing agreement please click here.

5. I received my RiskyProject license number. How should I validate it?

To learn how to validate your license click here.

6. I have RiskyProject version 1.3. Can I receive RiskyProject 2 free of change?

Yes. All RiskyProject version 1 users will receive RiskyProject 2 free of change. Just download and install it on your computer. You don't need to uninstall RiskyProject 1.

7. Can I install both RiskyProject Lite and RiskyProject Professional on the same computer?

If you use RiskyProject 1.3 or early versions, you must install RiskyProject Lite to setup RiskyProject Professional and vice verse. If you use RiskyProject 2, both Lite and Professional versions can be installed on the same computer.

8. I cannot validate my license through Internet. What should I do?

Most likely you use firewall which prevents you from getting a response code from our server. In this case you should send us computer ID and license number and we will send you a response code. To see your computer ID, from the Help menu. choose About RiskyProject and then click the Update License button.

9. How can I obtain a response code if I don't have Internet connection?

You need to have a license number and computer ID. We will supply you with license number. To see your computer ID, from the Help menu. choose About RiskyProject and then click the Update License button. You can obtain a response code using one of the following methods:

1. Call us

2. Send email to sales@intaver.com

3. Go to support on our web site and use support request form.

After you get response code enter it using the same dialog as you use to enter license number.

10. Can I upgrade RiskyProject Lite to the RiskyProject Professional?

Yes. Please contact Intaver Institute Inc. for pricing information. You don't need uninstall RiskyProject Lite to install RiskyProject professional. Both RiskyProject Lite and RiskyProject Professional can work on the same computer. A new license will be required. If you are using trial version of RiskyProject Lite and want to try RiskyProject Professional, a new license is not required within the 30-day trial period.

11. Do I need to download new RiskyProject, if I already have a trial version?

No. the Trial and licensed versions of RiskyProject are the same. If you want to switch from trial to full licensed version of RiskyProject, you will need to purchase a license. Intaver Institute will forward you a license number. When you receive your new license, go to the Help menu. choose About RiskyProject and then click the Update License button in the About RiskyProject dialog box. Enter you license number and validate it (click here for the instructions). After the validation is completed, you need to restart RiskyProject.

12. Can you extend a 30 trial period?

Yes. In some cases we can expand the trial period by issuing a temporary license. Just call us or send e-mail to sales@intaver.com

13. What should I do, if my computer has been reimaged and lost the license or RiskyProject?

Just contact us. We will help you to restore your license information on new or reimaged computer.

14. I use VMWare. How can I obtain new license of RiskyProject when I create a new image?

You have to contact us each time you create new VMWare image with RiskyProject. We will help you to restore your license information.

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