Filtering risks that are shown in risk register

October 25, 2015 Q: Filtering risks that are shown in risk register Filtering risks that are shown in risk register A: You can use risk properties to filter the risks which appear in the risk register. Risks are automatically ranked based on risks scores regardless of the filter applied. The first thing is to check the list of default custom properties that are provided in the Risk Information > Custom Properties tab. If you need to create a new custom property you can create them using the Risks > Settings > Default Properties view. When you add risks to the risk register, you then need to enter the associated value into the property for all the risks to ensure that you can filter on that property. In the Risk Register, click the Filter button and then create the Filter. In the example below, the risk register show the risks with the Location value = Phase One. You can use Boolean logic to build additional conditions that must be met. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1162

Can you risk resource costs

October 25, 2015 Q: Can you risk resource costs In the Assign to Tasks or Resources view in the Risk Register, we have added a risks to a resource. One is a schedule risk, but the other involves the cost of the risk. We assigned a fixed cost risk, but do not see any impact from after performing the monte carlo risk analysis. Are we doing something wrong? A: You can risks resources costs in two ways, but not using the “relative or fixed’ cost increase as these only apply to costs that are entered into the Cost and Income View. The first method is via time dependent costs where you apply a duration risk (fixed or relative) to a resource. This schedule increase will cause proportional increase (or decrease if it is an opportunity) every time the risk occurs during the simulation. The second method is to apply a risk to the resource rate. The rates are defined in the Resource view. To assign a risk to that rate, you must open the Resource Information dialog box and click the Risks tab. There you can either enter a new risk or clicking in an empty row and selecting a risk from the drop-down list. Once you have entered the chance, select Rate increase from the list of outcome types. The rate increase can modeled as any other risk: as a single outcome or as a statistical distribution. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1163

Task constraints for scheduling in RiskyProject

October 22, 2015 Q: Task constraints for scheduling in RiskyProject I have schedule and it has a lot of “must finish on” constraints. I have read that to run Monte Carlo schedule risk analysis that it is best not to have these in the schedule. However, the planners say that they need them in their schedules as part of their reporting. Any advice. A: This is a fairly common issue that arises when companies start to implement quantitative schedule risk analysis as part of the project management processes. Typically, we see “Must Finish on” or other “hard” constraints – those constraints which fix start or finish times to a particular date – to meet delivery deadlines as part of contract agreements etc. But in many cases, these are overly optimistic given the inherent risk of the projects. In this case the constraints can be considered wishful thinking and wishful thinking is one of the biases that we try to overcome with the schedule risk analysis. RiskyProject allows for hard constraints because we do have clients that do have true hard constraints abd are aware of how it impacts the results of their analysis. However, in this case, they have very specific analysis techniques that they use to ensure that these constraints do not bias their decisions. In cases where constraints have been put in place for reasons such as “if we don’t finish by then, we could lose our bonuses or the client could penalize us” etc, then these constraints will generate an analysis that provides an unrealistic confidence of delivering at specific dates. Therefore we recommend that by default for schedule risk analysis, all tasks have a “Start as soon as possible” constraint and only in very specific cases should hard constraints be used. We recommend that hard constraints be replaced with deadlines. In addition, using soft constraints is considered best practice for all schedules; otherwise, during project execution the project will not update properly when you add actuals to your schedule. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1159

Addin not calculating low and high correctly

October 22, 2015 Q: Addin not calculating low and high correctly Hello, we are trying to use the RiskyProject Addin in Microsoft Project, but are getting strange results for pessimistic (high) results when we run a Monte Carlo schedule risk analysis. We are using Duration1 and Duration2 for low and high durations. A: Most likely reason for the results you are getting is that the column mappings for duration are not set correctly. This is a common issue. The default column mappings for Low and High Duration when you first install the software are fields Duration 1 and Duration 3. However, people often are unaware that these fields are mapped and can be customized and therefore need to be setup before running the Monte Carlo risk analysis. The field mappings can be found in the RiskyProject addin tab, Settings>Field Mappings. In the screenshot below is an example of how the field mapppings and the duration estimates can be mapped incorrectly. In this example to fix this, the user would need to switch the High duration to Duration 2. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1161

Probabilistic Branching in project schedules

October 22, 2015 Q: Probabilistic Branching in project schedules We are looking at adding branching into our models as part of our Monte Carlo schedule risk analysis and are wondering which options we should use. What is the difference between Running (or Canceling) a task or Running or Cancelling and setting to zero. A: If you are looking at the analysis at the project summary level, there is not a large difference between to two types of branching options. It does however, have a significant impact if you are looking at the expected values at the task level. The reason for this is that in the results, if you select just to run or cancel branches, at each iteration, if a branch is cancelled it is given a NULL result. If you select the set to zero option, the a branch is cancelled a 0 is entered as a result. For the vast majority of modeling, using the option to run or cancel will provide the most intuitive results. In the example below, you can see how these options impact the expected values (EV) for a task. Image For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=4&t=1157

Custom distributions for Monte Carlo

October 22, 2015 Q: Custom distributions for Monte Carlo I noticed that you also have custom distributions in additional to all the others. We use triangular for all of our schedule risk analysis, but are looking at whether to use any of the others listed. A: As part of Monte Carlo schedule risk analysis, you must define a statistical distribution that defines the probability density function (PDF) of you estimates. All of the distributions that we provide are considered continuous distributions and they represent all possible values between the low and high boundaries. Custom distributions are generally used when you have historical data from previous projects with similar activities that you enter discrete values for each interval between the low and high estimates. Creating a custom distribution requires entering in intervals (as a percentage between 1-100) and how often a value for that interval will occur. In the example below we have duration estimate of 4-7 days with 9 intervals each with a percentage that the activity will be completed during that interval. The sum of the percentages of each bin should equal 100% probability. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1158

Edit Project Calendars

October 19, 2015 Q: Edit Project Calendars I am assuming that if you can create a schedule you should be able to edit the project calendar, but I can’t seem to find out where you this. A: RiskyProject is a standalone scheduling software, but we do use common terminology “Working Time”. We do have several standard calendars 40 hr work week, 24 hr. etc. Typically, in RiskyProject, the majority of our users will import the project schedules and including calendars that are defined in the 3rd party scheduling tool. However, if this is not the case, if you creating a new schedule or are going to define a specific calendar for purposes of probabilistic modelling during Monte Carlo schedule risk analysis. You define or edit them in the Working Time dialog box. You can open the Working Time dialog box from Schedule > Schedule and Calendar and clicking the calendar icon. You can create new or modify existing calendars. Each new calendar can be defined using previously created calendar as a base. To find our more, search on Working Time in our user guides or help system. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1154

Probabilistic Calendar For Monte Carlo Simulations

October 19, 2015 Q: Probabilistic Calendar For Monte Carlo Simulations I'm looking for the way to define probabilistic calendar in RiskyProject. A: Yes we support probabilistic calendars. Typically, they are used to model weather events or other phenomena that restrict or change working days or hours during Monte Carlo schedule risk analysis. As part of this process, you need to create one or more project calendars that have for example, non-working days due to a weather event. Therefore, if you are going to working in a northern sub arctic area where there is a spring breakup period that occurs sometime in April-May that 1 in 5 years causes a total shutdown for x days/weeks above the normal that models this and run it 20% probability while running the standard the other 80% of the time. You sent probabilistic calendars in Schedule > Settings and Options > Project Settings. The Probabilistic Project Calendar list includes all of the calendars defined in the current project. Beside each calendar you can enter in the chance that they will be used during Monte Carlo schedule risk analysis. In the example below, we have modelled 3 different scenarios for working time during the spring breakup, each with a different probability of occurring. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1155

Calendars for Projects vs. Calendars for Portfolio

October 19, 2015 Q: Calendars for Projects vs. Calendars for Portfolio In RiskyProject Enterprise I don't understand what calendar is used for individual project and what calendar is used for project portfolio. A: In RiskyProject we have both portfolio and project calendar. Portfolio calendar is applied only for calculating and drawing portfolio Gantt chart. In current version of RiskyProject we don't have links between different project. Therefore portfolio calendar applied only to duration of the individual project shown on the Project Portfolio view. In current version of RiskyProject 6.1 portfolio calendar is only Standard. Portfolio calendar does not affect results of Monte Carlo simulations. Project calendar can be different. You can define it for individual project. It is defined in Schedule -> Project Settings. Project calendar is a default calendar for individual project. Each particular resources or tasks may have its own calendar. Generally RiskyProject uses the same logic as Microsoft Project. Project calendar affects results of Monte Carlo simulations. If you brings schedule created in Microsoft Project or any other software into RiskyProject, project calendar will be imported. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1156

NPV calculation settings

October 14, 2015 Q: NPV calculation settings We are going to be using the Cash flow analysis, but noticed that whenever we open a project it seems to have a 10% NPV as a default. Can we modify it? A: The NPV discount default rate is used calculate the net present value of the project as is especially useful in cases where the project will have both costs and incomes to understand future values of the project. The default discount rate is set in the Project Options>Cost>NPV Calculation box. To set the value as the default value, click Set as Default. One thing to note that when you run a Monte Carlo cost risk analysis, the NPV is calculated automatically. However, you can recalculate the NPV using a different discount rate without rerunning the simulation using the Recalculate NPV button. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1151

Where do you set abbreviations for days and weeks

October 14, 2015 Q: Where do you set abbreviations for days and weeks We normally enter activity durations in weeks. Where do I set this and if possible can we change it the display from “weeks” to just “w” A: You can do this very easily in the Project Options. To Set the default time units for entering duration, go to Schedule>Settings and Options>Project Options>Duration tab and select the unit from Duration is entered in drop down list. To modify how the units appear, go to the Project Options> Units tab. There are a series of drop-down lists that allow you to select how the units are displayed. In your case, from the Weeks dropdown list select “w”. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1153

I cannot find the Sensitivity Analysis view.

October 14, 2015 Q: I cannot find the Sensitivity Analysis view. In your documentation you show a Sensitivity View , but I cannot see it on the Analysis tab. A: The Sensitivity View can be accessed either from the Workflow bar Analysis (if it is open) or the All Views button that is located on all of the ribbon tabs except for the Tools tab. If you have run Monte Carlo cost/schedule risk analysis and are in the Analysis tab of the Workflow bar and cannot see the Sensitivity Analysis view icon, you can use the arrows located on the top or bottom of the Workflow bar to scroll the icons up or down. This is a common occurrence when the software has been resized. Please note that Sensitivity analysis view will not be presented if you don't have any schedule (tasks). For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1152

Monte Carlo Cost Analysis in Microsoft Project

October 8, 2015 Q: Monte Carlo Cost Analysis in Microsoft Project We are running integrated cost and schedule monte carlo risk analysis using your Microsoft Project's addin. However, we are not seeing any results for the cost. A: If you are not seeing any results for cost risk analysis, it is typically because the cost data has been excluded from the Monte Carlo simulation. When running simulations on Project schedules, by default RiskyProject always runs analysis on the schedule. However, new with version 6, if you are either using the Addin to either calculate or export the results to the RiskyProject standalone, you are given the option to exclude some data types (including cost) as a way to improve performance and decrease the time required to complete the simulations, which can be extremely useful when analyzing extremely large schedules. To check whether or not you are excluding cost from the analysis, go to the Field Mappings dialog box, the same dialog in which you mapped the cost fields, and at the bottom there are a series of check boxes. If a check box is selected that data will be excluded from the analysis. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1150

Task success rate view

October 8, 2015 Q: Task success rate view We are trying to use success rate view. But we don’t get anything but 100% on all tasks. A: Success rates is a measure of how often an activity is actually performed during each iteration of the Monte Carlo simulation. Task execution and therefore success rates can be impacted by deadlines, risk outcome assignments and probabilistic or conditional branching. In the first two, tasks can be cancelled because they did not meet specific dates or a risk occurred. In the last, it may be that the project switches to a different branch due to one or more conditions not being met. In my experience, the Success Rate view provides the most powerful visualization of the results of a branching simulation and is very good at communicating the results to team members or other stakeholders. If you go to our Samples folder (C:\Program Files\Intaver\RiskyProject 6.1\Samples) and open the RP_Branching.alm, it provides a very nice illustrative example of how the Success Rate clearly visualizes the impact of the branching logic on project plan. We use the traffic like color scheme to indicate the success rates of each activity and the overall project going from green = high to red =low For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1148

How are deadlines used in Monte Carlo Schedule Risk Analysis

October 5, 2015 Q: How are deadlines used in Monte Carlo Schedule Risk Analysis We normally have deadlines defined in our schedules from Microsoft Project. How are they used in RiskyProject and will they affect the results of our schedule risk analysis. A:RiskyProject will recognize deadlines if they are defined in MSP or they can be set in RiskyProject after you have imported your schedule. Deadlines have 3 different options and are set in the Task Information > Deadlines for each task. No Actions: the deadline can be used only as a visualization on the Gantt chart End Task: the task will end at the deadline set and this will impact the results of the monte carlo schedule risk analysis. Cancel Task: the task will be cancelled and this number of times the task is cancelled will be reflected in the Success Rate chart. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1150

Error when importing xml

October 5, 2015 Q: Error when importing xml We are getting an unrecognised symbol error when importing an Microsoft Project xml into RiskyProject. A: Some text symbols that are entered into text or custom fields are not supported by the Microsoft Project xml schema. It is a known issue and one that we have been working for past several years in resolving. At this point though we believe we have resolved 99% of these errors by removing them from the xml file during the import, we still occasionally run into them. There are two ways that this can be resolved. The quickest way is if you have a copy of MS Project installed on the same computer as RiskyProject, you can use the Addin to transfer the schedule directly to RiskyProject. You can use the Field Mappings dialog (File->Map Microsoft Project Fields), where there is options at the bottom to explicitly exclude the Notes and Custom field data from the transfer and this will not impact the results of the analysis. If this is not possible, the alternatives are to remove unnecessary text from the project or create a copy and do the same or send us a copy of the file to examine. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1146

RiskyProject keeps opening when I run Monte Carlo

October 5, 2015 Q: RiskyProject keeps opening when I run Monte Carlo When I run a Monte Carlo simulation in the RiskyProject addin for Microsoft Project and then go to the Statistics report. Every time, I run a new scenario (changing uncertainties etc) the desktop version keeps opening along when the summary results opens. A: Both the RiskyProject Addin for Microsoft Project and the desktop version share the same underlying components. Two of those components are the calculation engine and the statistics report. The Statistics Report is different from the calculation engine in that the desktop mode has to be launched to provide the viewer. Once the desktop mode is open, it runs in the background for the remainder of time the Microsoft Project instance is open. After which anytime you run a simulation, the desktop version will appear. It does not affect the results of the simulation. Here is how can you view statistical report in Microsoft Project: (picture) For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1145

Statistical distributions in the microsoft project

October 5, 2015 Q: Statistical distributions in the microsoft project We are using the Microsoft Project Addin to run schedule risk analysis on most of our projects. However, in some of the schedules are coming from subcontractors and all of the text fields are being used. Is there a way to enter the distributions without using the text fields? A: As you most likely understand, monte carlo schedule risk analysis in addition to most likely estimates for duration, also require Low and High estimates, and a defined statistical distribution. E.g. Triangular, Beta, Lognormal. By default MS Project does not have a field specifically designated to contain the statistical distribution information, so we have to put aside a default field (field that is included in all project schedules) to include this information. Text fields are the only option we have for this type of information, so you have two options. The first is that you require your contractors to reserve a designated text field for this information. Alternatively, you can import the data into the RiskyProject desktop which comes with the Addin, this is not an issue as we have a designated data field on our schema that does not take up one of Project’s text fields. You can view this field in any of the Schedule views in RiskyProject, by adding the Statistical Distribution for Duration column. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1144

Printing Gantt Chart for Schedule Risk Analysis

October 2, 2015 Q: Printing Gantt Chart for Schedule Risk Analysis We would like to provide a printed out version of the Gantt charts, especially the Risk Adjusted Gantt chart, that shows the original and results from our Monte Carlo schedule risk analysis. A: The printing feature is controlled using the Page Setup menu that can be found in the File>Print menu options. The Print Preview dialog allows you to setup how ad-hoc reports (reports generated directly from the screen view) appear. You may need to indicate how many data columns that you would like to see. This is not dependent upon the current number of columns that are shown in the View. For example if you have 4 columns visible in the view, but enter 1 in the Print x Columns for view , only the first column from left to right will be included in the print out. It can be done not only for risk adjusted Gantt chart (results of schedule risk analysis), but also for any other views. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1142

Background colors for Schedule Risk Analysis views

October 2, 2015 Q: Background colors for Schedule Risk Analysis views Just updated to version 6. Really like the improvements to the performance of the Monte Carlo simulations, good job! Only beef I have is that that the background colors seem to have been changed. Some shading has been adding to the data columns, I would prefer if it were back to white. A: The formatting (background shading, borders etc.) are set in the Application Look dialog box. It is located in the Tools tab -> Resources and Settings group -> Application Look. Normally, when you update the new install will pick up the previous settings, but it can also pick up settings (themes, etc) from the Windows settings. To change or customize the look of the software, open the Application Look dialog. It has two tabs: Application Look and Theme. The Application Look allows you to select Microsoft scheme from Windows XP to Office 2010. In the Themes tab you can further customize grid borders and shading. You may try different combination of color themes. For more information please visit www.intaver.com http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1143

Statistical distribution for risk outcomes

September 29, 2015 Q: Statistical distribution for risk outcomes Where can I change statistical distribution for risk outcomes? A: In schedule risk analysis risk events may have outcomes, defined by statistical distribution. First you need to enable statistical distribution for risk outcome. It is done in Schedule -> Project Options -> Risk tab. You will see a check box "Enable statistical distribution for risk outcome". Then you need to go to any risk assignment views or dialogs. For example, it can be done in Task Information Dialog (Risk tab). To see this dialog you may go to any task view and double click on Task ID and go to Risk Tab. If you have any risks, which have outcomes such as Fixed or Relative delay you may define low and high delay, and statistical distribution for the delay. You may need to scroll the grid within a risk tab to be presented see a drop down box for the statistical distribution. Some statistical distributions require entering some parameters. To update parameters of your statistical distribution of risk outcome double click on risk assignment ID within the same grid. You will be presented with Risk Assignment dialog. Then go to Distribution tab. Please note, that you will be able to change distribution parameters only if you define low and high outcome. For example you define relative delay. Your low outcome will be 10%, your high outcome will be 22%. Now you can define Beta distribution, which will represent these outcomes. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1140

Project success rate

September 29, 2015 Q: Project success rate How does RiskyProject calculates project success rate? A: Project success rate is calculated if project reaches Earliest Project Deadline, Latest Project Deadline, of Maximum Project Duration as a result of schedule risk analysis. Here is how these deadlines are defined: (Picture) To access this dialog box please click on Schedule -> Project Settings. These settings don't affect deterministic calculations (without any risks and uncertainties). They are only applied to Monte Carlo simulations. Here is how everything works. Let's assume that you define Maximum Project Duration as 1 year. During Monte Carlo simulations in 650 iterations calculated mean project duration exceeds 1 year and for remaining 350 iterations duration is less than 1 year. In this case project success rate will be 35%. Essentially it is a project deadline. Please note that you in some cases start time of the project can also affect success rate of the project. For example, you have Start-Finish links between predecessor and successor for some tasks. For this purposes we have Earliest Project Deadline. In such cases, project cannot start later than certain date and if it starts later on the certain iteration on Monte Carlo simulations, success rate will be reduced. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1141

Project duration is shorter than expected

September 25, 2015 Q: Project duration is shorter than expected We have assigned risks to the project schedule and the Low result we get seems unreasonably short. Do you know of any reasons for this? A: Often when we do unexpected results, we do recommend a reality check. It could be the results of an error in the schedule logic or in the risk assignments. If the schedule logic is sound, then most likely if you are model impacts using statistical distributions, the low or optimistic values for the ranges are too optimistic and the combination of risks impacts is giving you the result you are seeing. In addition, if you are using the risk outcome End Task, Cancel Task, or Cancel Task and all successors this can have an unexpectedly dramatic impact on the project duration, such that it ends early, but not successfully. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1137

What impact do risk triggers have on the Monte Carlo

September 25, 2015 Q: What impact do risk triggers have on the Monte Carlo We are identifying risks including descriptions, causes and triggers as key properties. From what we see, if you click in the field, it brings up the list of risks. Is this a form of risk correlation, ie. if the trigger risk occurs then the primary risk will occur and if so does this affect the results? A: Short answer is no it does not affect the results of your cost or schedule risks analysis. The trigger can be set as another risk however, if you click in the field, you will discover that it is an editable field. Therefore, you can identify a risk from the risk register as a trigger or you can type a statement to provide information about the what could “trigger” the risk. In the risk register and for reporting purposes, this information is only saved as an alphanumeric value that can be included in the Risk Register report etc. In the example below, you can see that text that has been added to the field. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=4&t=1136

How do I correlate distributions for task duration?

September 25, 2015 Q: How do I correlate distributions for task duration? I am performing schedule risk analysis and would like to correlate uncertainties in some activities. Is there a way to do this? A: Task correlation is one way of accounting for how tasks can exhibit similar changes in durations due to common factors when you perform Monte Carlo schedule risks analysis. An example might be during an installation that requires a number of components that will only become obvious during the actual execution of the activity. Lets say that each component will take 1 day to install, and they could require as little as 3, as many as 9, but the estimate that it would most likely take 5. In addition, each component has to be painted and inspected. Each of these activities takes a day as well. So they would have Low, Most Likely, and High duration estimates for each of these activities of 3, 5, and 9 respectively. However, the durations of the painting and inspection activities is dependent upon the number of components installed. In this case, we would say the durations of the activities are correlated. In RiskyProject, we allow for simple task correlation, either on or off. The reason for this is that research has shown that for correlations between 0 and 1 do not add any true accuracy to the results of the analysis. To correlate activities, we insert the column Seed for Monte Carlo Simulation (for Duration). This exposes the seed for the activities. You then copy and paste the seed value from the first activity to all the other activities to which it is correlated. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1134

Best way to transfer schedule from Microsoft Project

September 23, 2015 Q: Best way to transfer schedule from Microsoft Project What is the best way to transfer A: We always recommend whenever possible use the RiskyProject Addin for Microsoft Project to move schedules into RiskyProject. The reason for this is two–fold. First, the import of project schedule into RiskyProject is much quicker using the Addin. The Addin filters out any unnecessary time series data and therefore only the essential data required for analysis is transferred. RiskyProject also allows you to exclude specific data types to speed up both the import, but also the analysis. These settings can be found in Map Microsoft Project Fields dialog (click on File -> Import). Second, using the Addin creates a link to between the Project and RiskyProject data. Once the link is created, if you update the project file and reimport into RiskyProject, RiskyProject will identify the previous data and will update is data accordingly with all previous risk data will persist. So next time you need to run a Monte Carlo risk analysis or manage risks the process should be fairly quick. In some cases Microsoft Project security settings prevent installing RiskyProject add-ins. In this case, you may always use XML export from Microsoft Project and import it in RiskyProject. Just click on Save as in Microsoft Project and select XML file format. Then go to RiskyProject. Click on File -> Open and select XML format. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1132

Difference between mitigation and response plans

September 20, 2015 Q: Difference between mitigation and response plans What is the difference for risk mitigation and response plans in RiskyProject and how does it reflected in schedule risk analysis? A: In project risk analysis and risk management risk mitigation plants are the set of activities plan which is designed eliminate to minimize impact of threats and maximize effect of opportunities. Mitigation plan is created during process of risk identification. Activities associated with mitigation plans usually part of the schedule and executed together with other activities of the schedule. Risk Response Plan is also a set activities plan which is designed eliminate to minimize impact of threats and maximize effect of opportunities. However risk response plan is created during process of project planning, but executed after risk occurred. In RiskyProject risk mitigation and response plans are defined in Mitigation / Reponse View. Risk mitigation plans are assigned to the risks in Waterfall tab of risk information dialog box (when you double click on risk ID in risk register). Risk Response plan are assign to the risk in Properties Tab of risk information dialog box. It is important to note that you may have many mitigation plans per one risk but only one risk response plan. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=4&t=1131

RiskyProject keeps asking for license code

September 23, 2015 Q: RiskyProject keeps asking for license code We just had all of our computers updated and I reinstalled RiskyProject. Everytime I open it, it is asking for the license code. A: License information is stored in the system registry. If you are getting this message it means that the software cannot find the license information in the designated index in the registry. This occurs for two reasons. First of all, you may have a 3rd party registry cleaning tool that doesn’t recognize the license settings and is removing it. However most registry cleaning don't touch application software. So this is very unlikely scenario. Please check with your IT to see if this is the case. Second, it could be that the license information is not being written to the registry. This happens if you user does not have write access to the registry. The changes that were made to your computers may be the cause of either of these issues and you will need your IT people to assist in resolving this. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1133

Defaults for risk mitigation and response plans

September 20, 2015 Q: Defaults for risk mitigation and response plans Every time I add a mitigation activity to the waterfall chart, it seems to automatically decrease the impact by 5% which I don’t want. It looks like a default but I don’t see any setting in the options. A: When you are creating your risk mitigation plans in the mitigation waterfall chart, each activity that you add to the risk mitigation waterfall chart automatically is added as a mitigation plan or activity in the Mitigation/Response view. Each of these steps represents a planned activity which will change either the probability and/or impact of a risk, which in turn lowers the risk score. RiskyProject has hardcoded default values for reducing probability and impact (5%). If you do not modify these values, they are automatically added to the waterfall chart. You can set these default values in advance if you add the plans to the Mitigation/Response View. The default values can be added to the Risk Probability Reduction and Risk Impact Reduction fields for each plan. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1130

How do I transfer my license to another computer?

September 19, 2015 Q: How do I transfer my license to another computer? I have a new computer and need to move my license. A: According to the End User License Agreement, a license can only be installed on a single computer. Therefore the first step is to uninstall the software from your previous computer if it is still going to be used for other purposes. Second, you should notify our support team at support@intaver.com or by calling us at +1(403)692-2252 of your intentions to transfer the license. In the email, please include the license number and end user information: Name, Company, email address, phone number, as this will help them locate your license record. Once our support team have notification that your license has been uninstalled, the support team will check the license status. If the license was purchased recently within the 1 year free maintenance and support period, you can download the latest version from our web site. If the license was purchased more than a year ago, it may not be valid for the latest version. In which case, you will need to either upgrade your license or install a copy of the version that is compatible with your license. If you do not have a copy, you can request one from our support team. To check you license number please use About box (question mark at the right top corner of RiskyProject): Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1129

How do I share risks?

September 19, 2015 Q: How do I share risks? We have a generic set of risks that include probabilities and impacts that we would like to make available for all of our projects. What is the best way to do this? A: This really depends upon the information that is included with the risks. If the risks for schedule risk analysis and risk management just are a list of risk names then you can save Risk Registers as a file (*.alr) . These risk registers can then be kept on a local network drive and then at the beginning of your project then can be loaded into a blank risk register. To save a risk register, go to the Risks tab, Export/Import group, click Risk Register, Save Risk Register. You will be prompted to save the risk register file. Alternatively to load the risk register, click Load Risk Register to select the risk register you want to load into the project. (picture) If you would like to save list of risk assignments that would be used for quantitative cost and schedule risk analysis you can create a risk template. Risk templates are created in the the Global Risk Assignments view. In the Global Risk Assignments view, create your list of risk assignments. Assignments must include Risk name, Assignment type (Task or Resource), Chance, Outcome Types, and statistical distribution of outcomes (if enabled). Risk assignments can also include other information such as Moment of Risk. Risk templates do include qualitative properties such as Risk Owner, Definition, etc. Please visit Intaver Institute's forum for more information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1128&sid=fb4886934cf1f7c77c635b4b38f8f19b

Risk Chart for Portfolio Risk Analysis

September 16, 2015 Q: Risk Chart for Portfolio Risk Analysis Can you explain how the Enterprise Risked Project Chart works for RiskyProject Enterprise? A: The Risked Projects chart shows the level or relative schedule and cost risk for each project in the Portfolio. It differs from other schedule and cost risk analysis that we can derive from Monte Carlo simulation in that it provides insight into how “risky” projects as a function of the project budget and schedule. For example: Project A with a budget of $ 1M has $100 K of risk, Project B with a budget of $ 2 M also has $100 K of risk. Both have the same actual amount of cost at risk, however Project A has twice as much of relative risk. From the Risk Projects chart we cannot tell why one project has more relative risk than others, but it provides a additional information that supports the decision making process. It may be an expected result, but could indicate that further investigation and management decisions are required. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1127

Risks Assigned to the Project Schedule

September 16, 2015 Q: Risks Assigned to the Project Schedule Is there an easy way to quickly view how all project risks are assigned? As part of our project reviews we someway to show and justify our risk assignment. A: In order to perform schedule risk analysis using Monte Carlo simulations with risk events or risk driver, you need to assign risks to tasks or resources. There are several ways to view how your risks are assigned to the project. If you would like to see the risk assignments for each task, you can go to the Task Information > Risks tab. This will list each risk that has been assigned to the task. (picture) The same is true if you would like to view which risks are assigned to particular resources. In this case, you would go to the Resources view > Resource Information> Risks. Finally, in the Report tab > Report: All Risks view you can generate a report that includes all task and resource risk assignments for each risk. This report can be printed directly from the File > Print menu, or saved in CSV format. The report can be customized to include or exclude specific risk information. http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1126

Export Monte Carlo simulation data

September 16, 2015 Q: Export Monte Carlo simulation data Is there a quick way to move the simulation data from RiskyProject to a spreadsheet? A: Yes, once you have run your Monte Carlo simulations all of the data is available to export as a CSV (comma delimited file). All results including schedule, finish times, cost are included in the file To export your simulation data, run a simulation. In the Project View or Results Gantt, select the tasks, whose data you want to export. You can press down the or keys to select more than one task. Then go to the File menu, Export> Statistics. You will be prompted to save the file to a local folder. Please note that each iteration creates a row. If you run a large amount of iterations (>2500) be aware that it will create a single row for each iteration. You may also copy results of Monte Carlo simulations for the particular tasks to the clipboard the paste into Excel. To do it double click on any Gantt bar within a Gantt chart. Then you may right click on particular statistical distribution, and select Copy Data to Clipboard. You may also enlarge statistical distribution by double clicking on it and then again right click on the chart, and select Copy Data to Clipboard. http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1125