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Using Microsoft Project Add-In

Using the RiskyProject Add-In you can quickly add Low and High estimates for Cost and Schedule directly to your Microsoft Project file, run the simulation, and view the results of the analysis

Setting up the Add-In options

You can set up your Monte Carlo calculation, chart, and field mapping options using the Add-In.

  • Calculation options include the maximum number of iterations and convergence monitoring and more. To read more about calculation options, read Setting up calculation options.
  • Chart options allow you define the appearance of the charts. To read more about chart options, read View the results of the simulation.
  • Field mappings allow you to modify the default fields where the distributions for duration and cost are saved. To read more about the mapping, read Mapping custom fields in Microsoft Project to low/high duration/cost/income fields in RiskyProject

Adding Low and High Duration or Cost in Microsoft Project

  1. Select one or more activities.
  2. Click the RiskyProject tab. On the Input Distributions group, click Duration or Cost. The Statistical Distribution dialog box opens.
  3. Enter in the Low and High estimates using coefficients or fixed values (single activity).
  4. Select a distribution and modify any parameters required by the distribution.
  5. Click OK.

To clean edits made to distributions:

  1. Select the task or tasks in which you want to remove the distributions.
  2. Click the RiskyProject tab.
  3. On the Input Distributions group, click Clean.

Run a Monte Carlo simulation using the Microsoft Project Add-In

Once you have added low and high estimates and distributions to your activities, you can run a simulation.

To run a Monte Carlo simulation:

  1. Click the RiskyProject tab.
  2. On the Input Distributions group, click Calculate. A progress bar will open and indicating the number of iterations that have been completed.
  3. When the simulations are completed the Project Information report opens, which containing a project summary of the results of the simulation.

Project risk score is calculated based on empirical formula: project risk score equals 2 if all risks increase project duration or cost two times.

View the results of the simulation for a task

You can quickly view either histograms or tornado charts for a task. Only one task can be selected.

To view a histogram or tornado chart for a single task:

  1. Click the RiskyProject tab. On the Task Results group, click Histograms or Tornado. The Task Simulation Results report opens.
  2. Double-click on any of the reports to open a detailed view of the results.

Create a statistics report

You can automatically generate a report that includes a histogram, cumulative probability, and sensitivity analysis for one or multiple activities using the Statistics Report.

To create report:

  1. Run a simulation.
  2. On the Task Results group, click Statistical Reports. The Statistical Report view opens.
  3. Select the activities that you want to include in the report.
  4. From the File menu, click Print to open the Print Options dialog box.

Running Diagnostics of Microsoft Project Schedule

Diagnostics of Microsoft Project Schedule checks the schedule for logical errors as well as to uncover possible corruptions. Corrupted project schedules often cannot be imported to RiskyProject. To run project schedule diagnostics click on Check Schedule button.

Diagnostics in Microsoft Project is a subset of schedule diagnostics in RiskyProject. It only identifies a few most important errors and does not execute DCMA 14 point schedule inspection.

See also

RiskyProject for Microsoft Project

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