Joint confidence level chart

Janurary 18, 2016

Q:Joint confidence level chart
I think the tooltip in Joint Confidence Level chart is incorrect. Duration is 8 times smaller than it supposes to be, however chart itself is correct and all samples are displayed properly.

A: This problem is fixed and the fix will be available in new version of the software. Joint Confidence Level chart shows relationship between project duration and cost. It can be invoked from Project Summary view.
It is called "Cost vs Duration Scatter Plot". The button is located below finish time chart. The plot can be shown for duration or finish times. Each dot on the chart presents samples of data: Project Cost vs. Project Duration or Project Cost vs. Project Finish Time. If you hover a mouse above any point, you will be able to see a tooltip, which shows actual values of the point. The issue is tooltip for project duration was not properly converted to the current duration units and therefore was displayed incorrectly. Tooltip for project finish time is working correctly.

For more information visit www.intaver.com

http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1210

Permission to delete risks

Janurary 18, 2016

Q: Permission to delete risks
We use RiskyProject Enterprise. We need to ensure that we give permission to delete risks only to experienced managers, not to all users. How to do it?

A: RiskyProject Enterprise has extensive user management system which allows to define any permissions for different users and roles. Permissions can be defined by administrator only. To define permissions you need to do to File->Users. You will be presented with the list of users. Then you double click on the user ID and you will be presented with user dialog box:
For each user you can define different permissions, including delete, create, and modify risks, delete, create, and modify risk and response plans, and create projects. Access to the projects defined separately. This dialog would help administrator to customize permissions for each user. The user can always create and modify risks in the project they have an access to. But these risks will belong to this project only. The checkbox Create Risk is only for risk on enterprise level of hierarchy.

For more information visit www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=6&t=1209

Janurary 18, 2016

Q: How to define distribution using historical data
Have have a number samples with historical duration of some tasks. How can we use it to define statistical distribution for task duration?

A: There are a number of way to define statistical distribution using historical raw data. One of the ways is to use custom or discrete distribution. The second way is to fit continuous statistical distribution, such as beta or normal. For distribution fitting we recommend using Stat::Fit software from Geer Mountain Software. It is integrated with #RiskyProject. You can launch this software from Distribution tab of Task Information Dialog box (double click on Task ID). Stat::Fit software needs to be installed on your computer. If it is not installed, the dialog box will come up and tell you where is software can be obtained. There is a free student version of the software, but it has a limited number of statistical distributions.
You can also use Custom or Discrete distributions in RiskyProject. You can define distribution the same way you did with any any distribution (Distribution tab of Task Information Dialog box), and select Custom or Discrete. Then you can enter data samples and intervals, associated with this data samples. Based on our experience using Custom or Discrete distributions would give you accurate results of project risk analysis, but you need to have at least 5-10 and more samples.

For more information visit www.intaver.com

http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1208

User Guide for RiskyProject Professional

January 13, 2016

Q: User Guide for RiskyProject Professional
Where can I find User Guide for RiskyProject Professional?
A: depending upon the version you are using all documentation is included with the install in the root directory where the software is installed in a documentation folder: ; C:\Program Files\Intaver\RiskyProject 6.1\Documentation.

The installer also adds links to the User Guide to the start menu. In this example from Windows 7, it lists the two main user guides provided with the install. You can also find RiskyProject User Guide and all other documentation on http://www.intaver.com.

For more information visit: www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1206

Basing SRA off of Remaining Duration

January 13, 2016

Q: Basing SRA off of Remaining Duration
This would be the correct way to perform Schedule risk analysis (accomplished effort is known with certainly)? Do I have to go through the MSP schedule to 'update' the Mapped Fields following each status'g of the schedule or does SRA look at Base Duration along with % Complete to do the math in the background.

A: There is a description of how we deal with actuals in the User Guide, see ” Calculating and reassessing tasks using tracking data”. In our case, we refer to actuals as tracking actual performance.
Briefly if you do not have time to read the guide, if you have an updated schedule in MSP and have all the field mappings set up in the Addin or the desktop client, it will handle it. So if you update only the most likely remaining duration, RiskyProject takes status date, % complete, and uses the original statistical distribution to run the simulation. If you update the Low, Most Likely, and High estimates for remaining duration, we will use these values plus % complete and status date.

For more information visit: www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1207

I would like to apply distributions with VBA in MSP

January 13, 2016

Q: I would like to apply distributions with VBA in MSP.

I would like to be able to apply lo/hi durations programmatically through VBA; however, there appears to be a dependency with the Duration Distribution text field. ?Is there documentation on how to construct the "^" delimited formatting of the Duration Distribution text field?

A: There is a description of the statistical distribution code in the documentation, see Format of distribution definition text field for RiskyProject/Microsoft Project”. One of our major clients uses VB to generate this code so it has been field tested. TaskID> estimates in minutes, Seed, statistical distribution type, number of parameters.
You can use this information to create a macro which populate these fields. Our use documentation includes exact description of distribution parameters for each statistical distribution. If you use Triangular distribution, you don't need to define any parameters.

For more information please visit: www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=4&t=1205

How are original and actuals estimates handled?

January 13, 2016

Q: How are original and actuals estimates handled?

How are the lo/base/hi duration values related to full duration vs remaining duration? I presume it is these values that are passed to the simulation engine. Are there other dependencies that I would need to account for?

A: As noted in the documenation, you have two choices. If you only update the Most Likely (base estimate), then RiskyProject will automatically recalculate remaining duration for Low and High based on original estimates. For example if you have an activity with an original estimate of 8,10, and 14 days Base, Low, and High respectively and after 5 days, you status it 50% complete with 5 days remaining. RiskyProject will use the original low and high estimates to recalculate the Low as 4 and High as 7 days.
If you update all 3 values, you need set where the updated actuals are in the Field Mappping dialog in the Remaining Duration field. Unless you would like to keep a record of the original low and high estimates, I recommend that you select "Remaining and original duration are mapped to the same fields."
If you are just running SRA, in the mapping dialog you can exclude data types to speed up the analysis. This is found in the checkboxes at the bottom of the Field Mapping dialog.

For more information please visit: www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1204

Cash Flow chart

January 7, 2016

Q: Cash Flow chart
I use probabilistic cash flow chart. Is it possible to view statistical distribution of cost for each time interval?

A: As part of risk analysis RiskyProject can calculate cost and income for each period of time. The results of analysis can be presented on probabilistic cash flow chart (Cash Flow view under Analysis). Periodicity is defined using a drop down list located at the bottom portion of the right pane. The chart can be shown weekly, monthly, yearly, etc.
Each bar of the chart is associated with statistical distribution. We can calculate low, base, and high estimate of cost and income. Each estimate can be associated with particular percentile of statistical distribution. For example, low can be P10 and high will be P90. Actual percentile can be defined in Schedule->Project Options->Calculation.
When you double click on each bar you can view a statistical distribution of cost or income associated with particular time period. As any other statistical distributions in RiskyProject this one can be presented as frequency, cumulative probability plots or their combination. You can copy this chart to clipboard and paste it to your presentation. You can also view statistics, percentiles and raw cost data associated with this time interval.

For more information please visit www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1201

Resource chart for portfolio

January 6, 2016

Q: Resource chart for portfolio
Can I allocate the same resource to different projects within project portfolio using RiskyProject Enterprise? Is it possible to view resource allocation to different projects on Resource chart?

A: In current version of RiskyProject Enterprise resources belong to only one project. You cannot share resources between different projects.
Resource peak units, allocation, work, or percent allocation for specific resource can be presented on the probabilistic resource chart. This is done for specific project only. So you would need to open project, perform Monte Carlo calculation of this specific project and than go to Schedule -> Resources. If you right click on resources you would select a particular information you would present on chart (units, work, etc.).
Essentially in RiskyProject Enterprise this chart works the same way as in RiskyProject Professional or Lite. You can view resource allocation associated with low, base and high project schedule. But please remember that this chart shows only allocation to current project.

For more information please visit: www.intaver.com
http://www.intaver.com/IntaverFrm/viewtopic.php?f=6&t=1202

When should I use cost resources and how would it affect risk analysis

January 6, 2016

Q: Cost resources
When should I use cost resources and how would it affect risk analysis

A: In RiskyProject cost resources is developed for compatibility with Microsoft Project and other scheduling software. So if your schedule in Microsoft Project has cost resources it will be shown in RiskyProject as cost resources after important. Some organizations actively use cost resources as part of project scheduling process. It may help to facilitate earned value management.
There are no risk events, which affect cost resource directly. If cost resource is assigned to the task, cost of the cost resource is a properly of resource assignment. It is important to note that cost of cost resource assignment does not depend on task duration. For example, if your task duration is between 3 to 7 days and you have cost resource with cost $5000 assigned to this task, the cost of the task will be always $5000. On statistical distribution of the cost for this task you would see only one bar. Therefore you need to be vary careful when you switch resource type from cost to work and vice versa. Cost of work resources depends on duration of task.

For more information please visit: www.intaver.com

http://www.intaver.com/IntaverFrm/viewtopic.php?f=4&t=1203

Intaver Institute scheduled two new free webinars

January 6, 2015

Intaver Institute scheduled two new webinars

Intaver Institute Inc. scheduled two free webinars.
Webinar "Mastering risk analysis with RiskyProject" will be held Tuesday, March 8 2016. The standards for effective planning and management of projects are increasingly adopting Monte Carlo project risk analysis as an essential tool in an environment that is characterized by increased complexity and lowered risk tolerance. This webinar will show you a step by step process how to import project plans from other scheduling software, add uncertainty and risk events, understand how to analyse the results.
Webinar "Integrated project risk analysis" will be held Tuesday, May 3, 2016. Risk in projects can come from two main sources Risk events and uncertainties. Risk events are discrete risks that are commonly captured in risk registers and are characterized by probability and impact. Uncertainties are inherent natural randomness that is found in all processes. Both should be included as part of your project risk analysis model. This webinar will show you how to assign risk events and uncertainties to your activities, how to model risk factors, how to interpret results of analysis with discrete events and uncertainties.
Also we would like to remind you that our next webinar "Cost and Schedule Risk Analysis with RiskyProject" will be held Tuesday, Jan 12, 2016. Please click here to register for this webinar.

http://www.intaver.com/index-news.html

Proventures is a new reseller of RiskyProject

January 1, 2016

Proventures is a new reseller of RiskyProject

Proventures Education and Consulting Services has become new value added reseller of RiskyProject software. Here is how Proventures differentiates itself: "We at Proventures has the mandate to work on the threefold objective to empower people, enable them with processes and enhance their effectiveness through various PM tools. We strive to serve our customers with these Key Result Areas (KRAs) with people as the driving parameter to achieve individual excellence and corporate excellence. Demand management offers a unified view of all work in a central location. Its purpose is to quickly help organizations gain visibility into projects and operational activities; standardize and streamline data collection; enhance decision making; and subject initiatives to the appropriate governance controls throughout their life cycles."

http://www.intaver.com/index-news.html

http://proventuresindia.com/home/

Intaver Institute scheduled two new webinars

December 22, 2015

Intaver Institute scheduled two new webinars

Intaver Institute Inc. scheduled two free webinars.
Webinar "Mastering risk analysis with RiskyProject" will be held Tuesday, March 8 2016. The standards for effective planning and management of projects are increasingly adopting Monte Carlo project risk analysis as an essential tool in an environment that is characterized by increased complexity and lowered risk tolerance. This webinar will show you a step by step process how to import project plans from other scheduling software, add uncertainty and risk events, understand how to analyse the results.
Webinar "Integrated project risk analysis" will be held Tuesday, May 3, 2016. Risk in projects can come from two main sources Risk events and uncertainties. Risk events are discrete risks that are commonly captured in risk registers and are characterized by probability and impact. Uncertainties are inherent natural randomness that is found in all processes. Both should be included as part of your project risk analysis model. This webinar will show you how to assign risk events and uncertainties to your activities, how to model risk factors, how to interpret results of analysis with discrete events and uncertainties.
Also we would like to remind you that our next webinar "Cost and Schedule Risk Analysis with #RiskyProject" will be held Tuesday, Jan 12, 2016. Please click here to register for this webinar.


http://www.intaver.com/index-webinars.html