This forum includes discussion about project risk analysis and risk management theory: Monte Carlo simulations, Event Chain Methodology, schedule and cost risk analysis. Please submit questions and case studies about your experience with our project risk analysis software.
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We see that RiskyProject only supports. Our processes recommend using % Work Complete rather than % Complete. Is there a reason for this?
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While % Work Complete is useful for managing project progress, it is not recommended for schedule risk analysis as this setting will add additional complications to the creation of a valid risk model. The main objective of schedule risk analysis is to forecast probabilities for finish times and durations for activities and projects. While probabilistic Work can be an output of a simulation, using Work as an input can cause complications with Task Type settings (Fixed Units, Fixed Duration, Fixed Work) and resource allocations. If you have multiple resources assigned to an activity with are manually tracking effort, how is % Work Complete used to generate Remaining Duration. Add to this that these values need to be calculate for low and high estimates, it is highly likely that you may end up with results that difficult to reconcile with your project baselines.
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Intaver Institute Inc.
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