October 26, 2016
Q: View cost distribution for specific time intervals.
Is it possible to see the Monte Carlo charts for cost over a specific interval rather than an activity?
A: Yes, this information is available in the Cashflow view with provides forecasts about expected revenues (cost and income) over the course of a project.
To view the cost results for a specific interval:
1. On the ribbon, click the Analysis tab >, Cashflow view.
2. Select the time interval from the Periodicity drop-down list. The intervals can be monthly, bi-monthly, quarterly, and yearly.
3. Double-click on the interval or right-click and select Results for selected interval. The Monte Carlo Simulation Results charts open.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1307
Sunday, 30 October 2016
Printing Histograms or Cumulative Probability Charts
October 26, 2016
Q: Printing Histograms or Cumulative Probability Charts
How can I print the simulation result charts?
A: The quickest way to get a printed or hardcopy of the simulation results charts is to open the results that you want to print. This can be for activities on the Result Gantt or the project in the Project Summary. Once you have the charts open in RiskyProject, right-click and from the shortcut menu you can copy the chart image to the clipboard or as an image file.
You can use the image in presentation or document, which you can then print. Typically, people will copy the images into a standard report. It is also possible to print the charts using the Statistics Report.
For more information please visit:http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1308
Q: Printing Histograms or Cumulative Probability Charts
How can I print the simulation result charts?
A: The quickest way to get a printed or hardcopy of the simulation results charts is to open the results that you want to print. This can be for activities on the Result Gantt or the project in the Project Summary. Once you have the charts open in RiskyProject, right-click and from the shortcut menu you can copy the chart image to the clipboard or as an image file.
You can use the image in presentation or document, which you can then print. Typically, people will copy the images into a standard report. It is also possible to print the charts using the Statistics Report.
For more information please visit:http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1308
Saturday, 29 October 2016
Joint Confidence for Activities
October 26, 2016
Q: Joint Confidence for Activities
Is there anyway to calculate the chance that a milestone will meet both cost and schedule goals?
A: The probability that you will meet both cost and schedule objectives is often referred to as the Joint Confidence Level (JCL). RiskyProject calculates and visualizes the results on the Cost vs. Duration Scatter Plot that can be viewed from the Project Summary view. To view the JCL plot, click the Cost vs. Duration Scatter Plot button.
Joint Confidence is the product of the chance of meeting cost and duration values and can be expressed as JCL= ChanceDuration * ChanceCost where chance is expressed as a coefficient i.e. 0.5. With this in mind, it is possible to manually calculate the chance that you will meet both cost and schedule objectives for any activity in the schedule. Once you have run the simulation, open the Result Gantt. Select the milestone or activity that you want to calculate the joint confidence.
Click the Probability Plot button to open the simulation results. Double click on the Cost chart to bring up the details view. Using the Statistics view, check the Deterministic value. This should be your objective. Then compare this to the values in the Percentiles tab. The Percentiles listed are equal to the chance that you will meet that cost or be lower. Record the percentile that represent the deterministic value.
Repeat this for the Finish Time (or Duration) chart. You should end up with 2 values, for example Cost P35 and Finish Time is P55.
JCL = Cost (.35) * FinishTime (.55)
JCL= 19.25%
In layman’s terms this would mean you have a less than 1 in 5 chance of meeting both cost and schedule.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1306
Q: Joint Confidence for Activities
Is there anyway to calculate the chance that a milestone will meet both cost and schedule goals?
A: The probability that you will meet both cost and schedule objectives is often referred to as the Joint Confidence Level (JCL). RiskyProject calculates and visualizes the results on the Cost vs. Duration Scatter Plot that can be viewed from the Project Summary view. To view the JCL plot, click the Cost vs. Duration Scatter Plot button.
Joint Confidence is the product of the chance of meeting cost and duration values and can be expressed as JCL= ChanceDuration * ChanceCost where chance is expressed as a coefficient i.e. 0.5. With this in mind, it is possible to manually calculate the chance that you will meet both cost and schedule objectives for any activity in the schedule. Once you have run the simulation, open the Result Gantt. Select the milestone or activity that you want to calculate the joint confidence.
Click the Probability Plot button to open the simulation results. Double click on the Cost chart to bring up the details view. Using the Statistics view, check the Deterministic value. This should be your objective. Then compare this to the values in the Percentiles tab. The Percentiles listed are equal to the chance that you will meet that cost or be lower. Record the percentile that represent the deterministic value.
Repeat this for the Finish Time (or Duration) chart. You should end up with 2 values, for example Cost P35 and Finish Time is P55.
JCL = Cost (.35) * FinishTime (.55)
JCL= 19.25%
In layman’s terms this would mean you have a less than 1 in 5 chance of meeting both cost and schedule.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1306
Master Schedules
October 21, 2016
Q: Master Schedules
How does RiskyProject manage MS Project Master schedules?
A: Essentially RiskyProject merges a master schedule with n subprojects into 1 large schedule. Cross project links are converted into standard links such as in a schedule in MS Project is converted to RiskyProject schedule. You will not notice this if you run the analysis using the RiskyProject MSP Addin; however, if you open the Master Project in RiskyProject you will see that cross project links are shown as a standard link in the Predecessors tab of the Task Information view.
In addition, if you compare the task numbering, RiskyProject renumbers all tasks in the Master Schedule; whereas in MS Project each subproject has its own task numbering. Because MS Master Projects do not have unique task numbers (there can be n Task 1s etc.) this RiskyProject relies on unique WBS IDs to properly convert the subprojects to a single project file.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=6&t=1305
Q: Master Schedules
How does RiskyProject manage MS Project Master schedules?
A: Essentially RiskyProject merges a master schedule with n subprojects into 1 large schedule. Cross project links are converted into standard links such as in a schedule in MS Project is converted to RiskyProject schedule. You will not notice this if you run the analysis using the RiskyProject MSP Addin; however, if you open the Master Project in RiskyProject you will see that cross project links are shown as a standard link in the Predecessors tab of the Task Information view.
In addition, if you compare the task numbering, RiskyProject renumbers all tasks in the Master Schedule; whereas in MS Project each subproject has its own task numbering. Because MS Master Projects do not have unique task numbers (there can be n Task 1s etc.) this RiskyProject relies on unique WBS IDs to properly convert the subprojects to a single project file.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=6&t=1305
Monday, 24 October 2016
Customising the Tornado Chart
October 21, 2016
Q: Customising the Tornado Chart
It seems that the Tornado Chart has different colors for different types of data and different calculations. Can you modify the colors? Also, which is the preferred “Sensitivity calculation algorithm”. Does it change the ranking at all?
A: IThe color schemes are hardcoded and correspond with the underlying Windows theme colors. Therefore the outside frame color cannot be changed, but you can modify how the actual data is formatted using the Application Look dialog in the Tools > Resources and Settings.
RiskyProject comes with 2 sensitivity algorithms: Rank order correlation coefficient and Contribution to variance. Both are based on Spearman’s rank correlation coefficient and return the same order of results. Many people prefer the Contribution to variance as it provides a more context into the relative scale that each activity or risk is contribution to the overall variance in a particular parameter (cost, finish time, etc). If your audience is not familiar with correlation coefficients, the contribution to variance provides a more easily understandable measure. For example if your project has $2M at risk, the contribution to variance shows the % of that that can be identified with a particular activity or risk.
In the example, if there was $2M at risk, the Task 19 is contributing 34% or approximately $680K. This is much easier for project team to understand the potential impact.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1304
Q: Customising the Tornado Chart
It seems that the Tornado Chart has different colors for different types of data and different calculations. Can you modify the colors? Also, which is the preferred “Sensitivity calculation algorithm”. Does it change the ranking at all?
A: IThe color schemes are hardcoded and correspond with the underlying Windows theme colors. Therefore the outside frame color cannot be changed, but you can modify how the actual data is formatted using the Application Look dialog in the Tools > Resources and Settings.
RiskyProject comes with 2 sensitivity algorithms: Rank order correlation coefficient and Contribution to variance. Both are based on Spearman’s rank correlation coefficient and return the same order of results. Many people prefer the Contribution to variance as it provides a more context into the relative scale that each activity or risk is contribution to the overall variance in a particular parameter (cost, finish time, etc). If your audience is not familiar with correlation coefficients, the contribution to variance provides a more easily understandable measure. For example if your project has $2M at risk, the contribution to variance shows the % of that that can be identified with a particular activity or risk.
In the example, if there was $2M at risk, the Task 19 is contributing 34% or approximately $680K. This is much easier for project team to understand the potential impact.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1304
Calendar Exceptions
October 21, 2016
Q: Calendar Exceptions
Is there any way to customize the calendars such that every 2nd Friday is a half day or similar recurring exceptions to the basic project calendar?
A: RiskyProject does not provide a mechanism to automatically add reoccurring exceptions, such as half days every 2nd Friday. You have to add them manually add them to the calendar in the Working Time dialog box.
Note: RiskyProject will recognize nonstandard recurrent exceptions defined in MS Project or other scheduling software.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1303
Q: Calendar Exceptions
Is there any way to customize the calendars such that every 2nd Friday is a half day or similar recurring exceptions to the basic project calendar?
A: RiskyProject does not provide a mechanism to automatically add reoccurring exceptions, such as half days every 2nd Friday. You have to add them manually add them to the calendar in the Working Time dialog box.
Note: RiskyProject will recognize nonstandard recurrent exceptions defined in MS Project or other scheduling software.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1303
Sunday, 23 October 2016
Viewing overallocation
October 13, 2016
Q: Viewing overallocation
Can I view statistical distribution for resource allocation units for different time internals.
A: In RiskyProject you cannot view statistical distribution for resource allocation units directly. You can view statistical distribution for work for different tasks, as well as statistical distribution for duration. However you can view resource allocation for different time intervals for low, base, and high estimates of your project schedule. To do it please calculate your project schedule first, then go to Schedule -> Resources and then select Cur.Schedule, Low Results, Base Results, or High Results within a right pane. You will be able to view Peak Units, Work, Overallocation and Percent Allocation. To switch units simply right click on right pane and select type of data you want to view.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1301
Q: Viewing overallocation
Can I view statistical distribution for resource allocation units for different time internals.
A: In RiskyProject you cannot view statistical distribution for resource allocation units directly. You can view statistical distribution for work for different tasks, as well as statistical distribution for duration. However you can view resource allocation for different time intervals for low, base, and high estimates of your project schedule. To do it please calculate your project schedule first, then go to Schedule -> Resources and then select Cur.Schedule, Low Results, Base Results, or High Results within a right pane. You will be able to view Peak Units, Work, Overallocation and Percent Allocation. To switch units simply right click on right pane and select type of data you want to view.
For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=2&t=1301
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