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Quantitative
Risk Analysis with WelcomRisk
WelcomRisk
is an enterprise qualitative risk management software. WelcomRisk allows you to identify
and register risk, assign them to projects and activities, and track
risks and mitigation efforts. List of activities can be created in WelcomRisk
or imported from other project management software. RiskyProject can import
data from Welcom Risk using the WelcomRisk wizard and perform quantitative risk
analysis. Integration of WelcomRisk and RiskyProject allows you to perform
analysis based on properly managed reliable risk databases. It helps to
mitigate psychological biases, related to estimations of risks and
uncertainties (see Event Chain Methodology).
Import data from WelcomRisk to
RiskyProject can be done using RiskyProject's WelcomRisk wizard.
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1. All risks, associated to a project are
registered and analyzed in WelcomRisk. They are presented within web-based
environment.
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2. To perform quantitative analysis open
RiskyProject Professional or RiskyProject Lite, then from the File menu, choose >
Import and click on WelcomRisk. You will need to logon to WelcomRisk
database.
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3. Select a project from the list of all
WelcomRisk's projects |
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4. WelcomRisk uses risk severity and impact values to to
define how risks affect tasks. RiskyProject uses risk outcome
parameters: risk can delay tasks, cause tasks to be restarted or canceled.
You need to map WelcomRisk's severity/impact to RiskyProject's outcomes.
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5. Project schedule with risks is
imported to RiskyProject |
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6. Finally, you can perform quantitative risk
analysis: determine the chance that the project will be completed on time and
within a budget, identify crucial tasks and critical risks, and determine the project
success rate
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More more information about quantitative and
qualitative risk analysis please read our white
paper.
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solutions