RiskyProject Software

RiskyProject
Project Risk Management Software
Intaver Institute Inc.
303, 6707, Elbow Drive S.W, Calgary, AB, Canada
Tel: +1 (403) 692-2252
Fax: +1 (403) 459-4533
www.intaver.com 1
2012IntaverInstitute05/06/14

What Is RiskyProject?
• Project Scheduling
• Risk Register
• Quantitative risk analysis using Monte Carlo simulations
• Project performance measurement
2
RiskyProject is Windows-based project risk
management software.
Risky Project gives you a simple answer to a
common question: What will happen to your
project if certain risks occur?

The Project Management Problem
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The RiskyProject Solution
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The RiskyProject Solution
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RiskyProject Features
• Full scheduling engine with costs and resources
• Full risk register that links to project schedules
• Quantitative and qualitative analysis
• Risk+ replacement
• Easy to use quantitative schedule risk analysis based on risk
events
• Probabilistic cash flow analysis
• Project tracking with risks and uncertainties
• Integration with Microsoft Project, Primavera, or other project
management software
• Optional decision tree analysis
• Analysis of critical risk events which need to be mitigated first
8

RiskyProject Features (Continued)
• Product lifecycle management
• Risk templates
• Probabilistic and conditional branching
• Managing mitigation plans
• “What if “ analysis
• Advanced reporting tools
• Risk event correlations
• Multiple statistical distributions and distribution fitting
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10
RiskyProject Workflow

RiskyProject Workflow
11RiskyProject’s workflow is compatible with PMI, Prince II, and other risk
management processes

Define Project Schedule
Enter complete WBS,
as it is done in other
project management
software
Enter resources, cost and
income for each task
You may also import project schedules from other scheduling tools, such as Microsoft
Project or Primavera.
12

Risk Register
Pre mitigation
Probability,
Impact, and
Score
Post mitigation
Probability,
Impact, and
Score
Risk register
view
Separate
opened and
closed risk and
issues
Separate
threats or
opportunities
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Risk Form
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Risk description
and status
Cost of Risk
Management
Strategy
Review Timeline
Double-click on a risk to view or modify Risk Information

Qualitative Risk Analysis: Define Risk Probabilities and
Impacts
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If no schedule is attached, qualitative risk assessments can be performed
Outcome Types are
now qualitative
Outcomes for risk
categories are qualitative
and are based on risk
matrix settings

Mitigation Plans
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Add mitigation or risk response plans (cost, expected reduction in
probability and impact, an descriptions. Plans can have sub-plans

Mitigation Waterfall Chart
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Track total cost, expected reductions in probability or impact and
dates for mitigation plans

Risk Reviews and Risk History
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All risk reviews with details can be saved and tracked in system

Assign Risks to Tasks and Resources
Define risk chance, outcome and
result. Risks can have mutually
exclusive outcomes, different
outcomes of the same risk
Risks can be global (for
all tasks or resources)
or local (for specific
tasks or resources)
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If schedule is attached, quantitative risk assessments is performed

Statistical Distributions
In addition to risk events
you may define
uncertainties as statistical
distributions for:
• task cost
• task start time
• task duration
• income associated
with task
If you enter only the low, base
and high cost, duration, start
time and income, RiskyProject
will generate statistical
distribution based on this data 20

Monte Carlo Simulation
When your project schedule
and risk breakdown structure is
ready, click here to perform
Monte Carlo simulations
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Result Gantt Chart
White bars represent
original project
schedule (no risks)
Blue bars represent
project schedule with
risks
Compare original project schedule and result of analysis
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Results of Risk Analysis
Project Summary:
project duration, cost,
and finish time with
and without risks
Results of analysis
for project cost,
finish time, and
duration
Double click on any chart to view detailed information 23

Detailed Results of Analysis
Move the slider to
determine the chance
that project will be
within budget
Get detailed
statistical data
Data can be exported
as an image or text
Detailed results can be shown for each task
or project for cost, duration, start time, finish
time, and income.
Detailed results can be shown for each task
or project for cost, duration, start time, finish
time, and income.
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Cost vs Schedule Scatter Plot
Move the slider to
determine the chance of
meeting both schedule
and budget
Base
Estimate
indicated by
yellow dot
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This plot is often referred to as the “Bull’s eye” or
“Football” chart

Cost, Income and Revenue
Compare forecasted
project costs with (blue
line) and without (red
line) risks
Cost chart is generated based on
fixed and variables cost and
income associated with tasks and
resources
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Probabilistic Cash Flow Analysis
Compare cash flows
with (blue bars) and
without (red line) risks
Cash flow is generated based on
fixed and variables cost and
income associated with tasks and
resources 27

Sensitivity Analysis
Tornado chart shows risks or other
parameters that have the most affect
on the project schedule
Prioritize critical task or
risks
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Crucial Tasks
Crucial tasks have the
most effect on the
project schedule
Crucial tasks for project cost and
duration can be different
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Risk Chart
Risk chart shows task duration and versus risk, associated
with task
This task has low
duration but high risk
These tasks have
balanced risk versus
duration ratio.
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Risk Matrix
Risk Probability,
Impact and Score for
the current schedule 31

2012IntaverInstitute
Project Dashboard 3x3
3 most important project
parameters (cost, duration,
and finish time)
3 most crucial tasks
3 most critical risks
Project Dashboard 3x3
is a condensed view of
the most important
results of analysis
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05/06/14

Project Tracking
This task is 100%
completed (green bar)
For each task at any moment you may enter how much work has
been completed
This task is partially
completed (yellow bar)
Risky project automatically
adjusts the probability of risks
for partially completed tasks
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Tracking Results
New project forecast is done each time actual project data
is entered.
Original (baseline)
project duration
Actual project
performance
Low, base, and
high forecast
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Select pre and post
mitigation baselines
to view on risk
register
Pre and post
mitigation risk
scores
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Advanced Project Risk Management

Select the current
schedule
Compare results for
each baseline
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Run alternative
project branches
probabilistically
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Integration with Project Management
Software
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Risk tab installed on Microsoft Project ribbon allows users move
projects seamlessly into RiskyProject
RiskyProject can import schedules from Oracle Primavera and
other project management software.

Intaver Institute’s Services
Intaver Institute performs project risk management, risk
analysis, and decision analysis training and consulting
Popular Intaver’s training courses include:
• Project management: theory and best practices
• Introduction to project risk management: theory and case
studies
• Project decision analysis
• Quantitative methods in project management
• Introduction to RiskyProject: basic RiskyProject workflow
and features
• Advanced features of RiskyProject Professional
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