RiskyProject Lite 5.0
Monte Carlo Schedule Risk Analysis Software
RiskyProject allows project managers to perform project planning, scheduling, quantitative risk analysis, and performance measurement of projects with multiple risks and uncertainties.
RiskyProject Lite is designed for project managers without advanced knowledge of risk analysis theory. With it, you can create a project schedule or use project schedule from Microsoft® Project, Oracle® Primavera, or other project management applications. Once you have your schedule, just define your risks using risk register and calculate the schedule to determine your risk profile.
RiskyProject Lite is
- Integrated Monte Carlo risk analysis for Microsoft® Project
- Integration with Oracle® Primavera and other project management software
- Replacement for Risk+
- Multiple statistical distributions for task duration, cost, start time, and lags
- Risk events
- Risk Register
- Risk adjusted project schedule
- Probabilistic resource allocation
- Correlations between task durations and cost; risk event correlation
- Histograms and Cumulative Probability charts for all major project and activity parameters: duration, start time, finish time, and cost
- Tornado diagrams for project and each activity
- Multiple customizable reporting views
- Project tracking with risks and uncertainties
- Easy to use, no programming required!
Seamless Integration with Microsoft® Project
Both RiskyProject Lite and RiskyProject Professional are seamlessly
integrated with Microsoft® Project:
Click here for more information about RiskyProject for Microsoft® Project.
RiskyProject Features
Project Scheduling
Integration with Microsoft® Project and Oracle® Primavera
RiskyProject is built around its own scheduling system. You can define task parameters, relationships between them, constraints, resources, and cost without using Microsoft® Project, Oracle® Primavera, or any other scheduling software.
However, if you are already a user of Project, Oracle Primavera, or other project management software, you can seamlessly open project, created by these applications and augment existing data by assigning uncertainties to your tasks and projects.
Risk Register
A risk register is a set of all risks and issues in the project. Issues are risks that have occurred and therefore are having an actual affect on your project. You can easily convert risks to issues. You can open and close risks. Risks in the risk register may have different properties (owner, recorder, contact, date recorded, date converted to issue, location, etc.). You may customize any properties for all projects.
Risks and issue can be assigned to different tasks and resources or be global. For example, you could assign the risk "Budgetary problem" to all tasks that this risk could affect. Each risk assignment will have different probabilities and outcomes. For example, "Budgetary problems" assigned to task "Project elaboration" will have chance of occurrence 30% and outcome "Restart task".
After calculation, the risk register will present calculated risk impact, risk probability and risk score, which is equal probability multiplied on impact.
In addition to the risk register, uncertainties in the RiskyProject can be represented using statistical distributions.
See Online Documentation for more information.
Non-schedule risks
Customizable Risk Categories
RiskyProject performs quantitative risk analysis on any types of risks outcomes including non-schedule risks. Non-schedule risk categories include quality, safety, performance, etc. You may add or replace any risk categories.
You can now rank risks of all types based on scores. Risks affecting quality, safety, technology, project duration, cost, and others can be ranked together. In addition, for non-schedule risks (quality, safety, etc.), you do not necessarily need a project schedule to perform analysis.
See Online Documentation for more information.
Assigning Risks to Tasks and Resources
Setting up your project for risk analysis has never been easier. RiskyProject's interface is designed to allow you to quickly add and edit your project risks. To assign risk to tasks you may use risk register, global and local risk views, assign them separately for each task or resource.
RiskyProject allows you to define default settings for task, resource and risk parameters and when you need help an interactive system of legends and on-screen help messages will guide you though the process of modeling your project schedule.
See Online Documentation for more information.
Result Gantt Chart
The results of your project risk analysis are shown on the Results Gantt chart. You will see the ranges for start and finish times of each task, and be able to compare them with baseline or original project schedule.
The RiskyProject scheduling engine is designed and optimized for risk analysis. Probabilistic calculations with multiple simulations are performed quickly: on small projects, the calculations are instantaneous. This is important, for as new information about the project performance becomes available, you can quickly reanalyze the project as often as required.
Risks and issues can be shown on the Gantt chart as arrows. The calculated impact of a risk is color-coded. For threats green = low, yellow = medium, and red = high. For opportunities, colors are opposite. The size of the arrow represents the risk probability. Click on an arrow to view information about the particular risk.
See Online Documentation for more information.
Risk Probability vs. Impact Matrix
The risk matrix shows project risks' impact and probabilities and allows you to identify critical risks. In addition, the Risk matrix shows both threats and opportunities. The Risk Matrix is fully customizable: you can define the size of the matrix and risk tolerance.
See Online Documentation for more information.
Probabilistic Earned Value Analysis
RiskyProject performs earned value analysis based on original project schedule and project schedule with risks and uncertainties (results of analysis). RiskyProject allows you to specify or calculate actual cost for each task. Actual cost, budgeted cost, and cost as a result of analysis (with risks and uncertainties) are displayed using interactive cash flow diagrams. You can determine difference between actual and budgeted cost on the each stage of the project.
See Online Documentation for more information.
Project Dashboard 3x3
Project Dashboard 3x3 is an easy way to view results of analysis: three main project parameters (cost, duration, finish time) with and without risk; three most crucial tasks, three most critical risks.
See Online Documentation for more information.
Optimistic and Pessimistic Project Schedule
Optimistic (low) and pessimistic (high) project schedule can be displayed separately on Result Gantt chart. It gives you an opportunity to analyze different project scenarios.
Tracking Projects
Because real-life data is sometimes the only way to assess your uncertainties correctly, tracking is one of the most important components of RiskyProject. To track a task, you enter the percentage of the task done on the particular date. RiskyProject then calculates the projected task duration and updates the risk profile of the task. The project schedule is recalculated to give you a more accurate estimate of total cost, project finish time, and duration.
Deadlines
RiskyProject allows you setup task deadlines and assign different actions to them. For example, tasks can be canceled if the task or reaches the deadline. In this case, the success rate of the task (chance the project or task will be completed) is reduced.
RiskyProject Lite and RiskyProject Professional
RiskyProject professional features advanced risk analysis functionalities: project planning, scheduling, quantitative risk analysis, and project performance measurement. RiskyProject Lite has the same project scheduling and performance measurement functionalities, but it includes only basic quantitative risk analysis functionalities.
| RiskyProject Features | RiskyProject Lite | RiskyProject Professional |
|---|---|---|
| Project Planning and Scheduling | ||
| Work breakdown structure |  |
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| Gantt Chart | |
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| Resource and work management | |
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| Fixed and variable cost management | |
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| Constraints and deadlines | |
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| Multiple baselines | |
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| Multiple project, task, and resource calendars | |
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| Risk Management | ||
| Risk Register (risks and issues, threats and opportunities, open and close risks, risk properties, risk probabilities, impacts, and scores, search and filter risks based risk properties) | |
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| Schedule and non-schedule risks (schedule, cost, safety, quality, environment, technology, legal, etc.) | |
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| Customizable risk categories and outcomes | |
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| Easily assign risks to tasks or resources | |
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| Risk correlations | |
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| Risk templates (standard risk templates are included) | |
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| Types of Uncertainty | ||
| Risk events for tasks and resources (fixed or relative delay, fixed of relative cost increase, Task restart, End task, Cancel task, etc.) | |
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| Multiple statistical distributions for task duration, cost, income start time, and lags (Uniform, Triangular, Normal, Lognormal, Exponential, Rayleigh, Gumbel, Beta, BetaPert, Discrete, Custom, and others) | In MS Project Add-in | |
| Conditional branching (If-Then-Else analysis) | |
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| Probabilistic branching | |
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| Probabilistic calendar | |
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| Probabilistic moment of risk | |
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| Quantitative Risk Analysis | ||
| Monte Carlo Simulations | |
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| Global risks (for all tasks or resources) | |
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| Local risks (for selected task or resource) | |
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| Event Chain Methodology support | |
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| Cost analysis with risks and uncertainties | |
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| Simulations until convergence | |
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| Analysis of success rate using project and task deadlines | |
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| Risk analysis for product lifecycle management | |
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| Sensitivity analysis (analysis how uncertainties affect project duration, cost, finish time, and success rate) | In MS Project Add-in | |
| Analysis of risk mitigation using multiple baselines | |
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| Reporting Tools | ||
| Customizable histograms and cumulative probability plots for task or project duration, start and finish times, cost, work, resource allocation, income and revenue | In MS Project Add-in | |
| Project information views (view original project parameters and results of simulation) | |
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| Result Gantt view (compare original project schedule with results of analysis) | |
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| Optimistic and pessimistic project schedules | |
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| Customizable risk matrix: Risk probability vs. impact | |
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| Risk report view | |
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| Cash flow view | |
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| Critical risks | |
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| Crucial task view | |
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| Risk mitigation (“waterfall”) diagrams | |
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| Success rate view | |
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| Risk Chart view (task risk vs. task duration/cost chart) | |
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| Integration with other project management tools | ||
| RiskyProject Add-in for Microsoft® Project | |
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| Integration with Oracle® Primavera | |
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| Other Project Management Software: Safran Project, Project KickStart, FastTrack, WBS Chart Pro, PERT Chart Expert, and other project management software. | |
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| Tracking | ||
| Forecasting of duration of incomplete tasks with risks and uncertainties | |
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| Project tracking views | |
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| Software Help and Support | ||
| Free unlimited customer support via email | |
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| Online help and tutorial | |
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* third-party software should be purchased separately
