How do I sort out residual risk from uncertainties

November 9, 2015

Q: How do I sort out residual risk from uncertainties
We have created a mitigated baseline that contains both residual risk and uncertainty. As part of your process, we would like to separate out the impacts of the residual risks and the uncertainties from the monte carlo risk analysis. Is there a quick way to do this. We were thinking of creating to baselines one with the risks and one with only uncertainties, but would prefer not to.

A: The easiest way is just to disable all the risks. First step is to run a monte carlo simulation. Save the analysis. Then you can disable all the risks. This is done in the Risks Tab, Export/Import > Enable/Disable Risks.
Run one more simulation and record the results. This results of this analysis in the impact of uncertainty on your project. The differences between the 1st and 2nd simulation is the impact of the residual risk on your project.

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