RiskyProject
is Windows-based project risk management software. However baseline
project schedule as well as results of the analysis can be easy
published on Web using Project Reporter by CoGenTex.
System
Requirements for Web Project Reporter:
Microsoft Internet Explorer,
version 6 or later (Windows, Unix/Linux, MacOS)
Netscape Navigator, version 5 or later (Windows only)
Opera, version 7 or later (Windows; not tested on other platforms)
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version of RiskyProject now
Project managers can use
RiskyProject for planning, scheduling, quantitative risk
analysis, and performance measurement of projects with multiple
risks and uncertainties.
RiskyProject allows managers to improve their ability to predict the course of
projects and determine how risks and uncertainties will affect the project
schedule. RiskyProject determines which parameters will have the most affect on
your project: duration, cost, and finish time with and without risks, crucial
tasks, critical risks, and success rate. With RiskyProject, you can optimize
the course of your project: track project performance and risk together and
analyze the affect of your mitigation efforts. It will help increase the chance
that your project will be on time and on budget.
Analyze
results: compare main project parameters with and without risks,
identify crucial tasks, critical risks, project success rate,
calculate chance that project will be completed on time and within
a budget.
Track
project performance with risks and uncertainties.
Perform
decision analysis: select project alternative based on cost and
duration.
RiskyProject
is a vital component of project management process within an
organization. RiskyProject
can be useful for project managers in many industries, including:
RiskyProject
= Project Schedule + Risks and Uncertainties
RiskyProject
is built around its own scheduling system. You can define task
parameters, relationships between them, constraints, resources,
and cost without using Microsoft®
Project, Primavera, or any other scheduling software. However, if you
are already a user of Project, 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.
RiskyProject
allows you analyze project schedules with risks and uncertainties. You can
define different risks at the project level and for each
separate task or resource. Each risk is defined by its chance of
occurrence, outcome (increase duration, cost, cancel task, etc.)
and time of
occurrence.
In
addition to the Risk List, uncertainties in the RiskyProject can
be represented using statistical distributions.
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. Defining and assigning uncertainties
is easy with RiskyProject. 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.
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.
RiskyProject performs earned value analysis based on baseline 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.
In addition to cost analysis RiskyProject includes income and revenue analysis with risks and uncertainties.
You may perform risk analysis related to both product development and product
sales. RiskyProject has separate sets of risks related to income, such as Fixed
Income Increase and Relative Income Increase.
Just double-click on each bar within
the Gantt chart to view histograms for duration,
start and
finish times, and cost, associated with the particular
task.
RiskyProject
Professional
allows the user to perform an analysis of different scenarios
using decision trees. Decision trees can be created based on
RiskyProject’s project schedule and presented using Vanguard
Studio software. RiskyProject can export data to the
text files and then used as an input in DecisionPro.
Alternatively, DecisionPro can be launched directly from
RiskyProject from the menu or by clicking a toolbar button.
WBS Chart Pro and PERT Chart Expert are
used to present and modify project schedules in two different
graphic formats. This software has been developed by Critical
Tools. Both of these applications can be launched from the
toolbar or from the menu.
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. These new results are then presented in the
Tracking Gantt Chart.
RiskyProject allows
you setup project deadlines for tasks and projects and assign
different actions to them. For example, tasks or projects can be
canceled if the task or the project reaches the deadline. In
this case, the success rate of the project or task (chance the
project or task will be completed) is reduced.
Sensitivity
Analysis shows you the input parameters (task duration, start
and finish time, success rate, etc.) that have the most affect
on project parameters (total project cost, total duration,
project finish time, and success rate). Sensitivity analysis
allows you to identify critical risks, which have the potential
of significantly affecting your project. These critical risks
should be the key focus of your risk mitigation efforts. The
results of sensitivity analysis are presented in sensitivity
charts.
Crucial
Tasks are those tasks, according to the sensitivity analysis,
whose duration has the most affect on a project’s duration and
finish time are crucial tasks. Uncertainties related to
critical tasks should be assessed and the risks associated with
these tasks should be mitigated. Crucial tasks are displayed on
the Gantt chart using distinct colors.
Risks and deadlines can affect task
success rates. You can quickly identify tasks with that fall within
specific success rates by assigning different colors to ranges
of success rates. For example, those tasks whose success rate
falls between 0 and 10% could be assigned the red color.
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. Total project cost, duration, and finish
time with risks are presented based on mean values. Crucial
tasks and critical risks are presented as a result of
sensitivity analysis.
RiskyProject comes
with powerful reporting tools. You can output the project
schedule from each step of the workflow. RiskyProject’s
customizable Task Sheet and Result Task Sheet allow you to see
task information in table format. The results can be printed,
exported to the clipboard in graphic and text format, or
exported to as a JPEG file. This is particularly useful if you
want to publish results of your analysis to the web.
Risk templates are
standard sets of risks that allow you to quickly and simplify
add risks to tasks and projects. A number of templates are
included to RiskyProject package. In addition, it is easy to
create your own templates, which you can use for your own
projects.
You can define mitigation plans using the Mitigation view. Mitigation plan can be execute when risk is occurred. RiskyProject will count, how many times the mitigation plan is executed. The diagram, which shows how often the mitigation plan is executed, will be displayed within a mitigation view. One mitigation plan will be executed only once per task even multiple risks occur.
Risk chart shows risks associated with tasks versus task
duration or task cost.
The risk is expressed as task standard deviation of task
duration or cost, maximum, minimum values, ranges, or different
percentiles (P10, P90, etc.). In a well-balanced project
schedules, different tasks usually have similar level of risks.
However, if the risk associated with a task is higher than for
other tasks with similar duration or cost, these risks should be
carefully analyzed and possibly mitigated. Alternatively, if a
task does not have significant risks and uncertainties compared
with other similar tasks, it may make sense to analyzethe task uncertainties to see if they have been
represented properly.
Probabilistic
branching allows the project to branch from one task to another
task or group of tasks as part of the simulation process. For
example, depending on results of project elaboration, there is a
40% chance that one project alternative will be selected and a
60% chance that another project alternative will be selected
Conditional
branching allows the project to branch from one task to another
task based on certain conditions. For example, if a feature
development task takes longer than 2 weeks, this may be require
shorter development time for other features. Conditions related to
task duration, finish time, and cost can be specified for each
task that has successors. RiskyProject checks these if then
conditions during simulations.
Different
risks can coincide with each other. For example, bad weather
conditions correlates with the delayed delivery of the goods. For
each risk you can specify correlated risks or risks that may occur
with a specific risk.
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.
In
addition to the Risk List, uncertainties in the RiskyProject can
be represented using statistical distributions. Using
RiskyProject’s intuitive interface, you can define ranges for
the following task parameters: duration, start time, cost, and
lag between task successor and predecessor.
RiskyProject supports the following distributions for task duration, start time, and cost:
If you have empirical data related to cost, income, or duration, you can use it to generate a statistical distribution and use it in the analysis. RiskyProject uses Stat:Fit from Geer Mountain Software to generate statistical distributions.
RiskyProject can publish original (baseline)
project schedules, as well as the results of analysis on the Web
using Project Reporter from CoGenTex.
The portfolio of all published projects can be presented and
analyzed on the web.This
helps to present your results to the team members or to do a
risked vs. unrisked analysis of projects within a portfolio.
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.
Risky
Project Features
RiskyProject
Lite
RiskyProject
Professional
Scheduling engine (Gantt chart,
Resources, Costs)
Project, task, and resource risks:
delay, restart start, end task, cancel task, increase cost,
etc.
Uncertainties in duration, start
and finish times and costs
Pentium 500 MHz or greater
information technology;
solutions