4/9/2015
RiskyProject
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
2012 Intaver Institute
Project Risk Management Software
1
What Is RiskyProject?
Project Scheduling
Risk Register
Quantitative risk analysis using Monte Carlo simulations
Project performance measurement
2012 Intaver Institute
•
•
•
•
4/9/2015
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?
2
2012 Intaver Institute
Projects
consistently
fail to meet:
• Budget
• Schedule
• Quality
• Safety
• Technology
• Other measures
4/9/2015
The Project Management Problem
3
•
•
•
•
Human psychological limits
Inadequate training
Poor processes
others
2012 Intaver Institute
Reasons
4/9/2015
The Project Management Problem
4
• How to estimate project duration or cost?
• What are the most critical risks and how to mitigate them?
• How to measure project performance?
• How to make an informed decision about future course of
the project?
2012 Intaver Institute
Key Project Management Issues
4/9/2015
The Project Management Problem
5
• RiskyProject is consistent with PMI PMBOK. Risky
Project supports the full project risk
management process.
• RiskyProject is very easy to use. RiskyProject is
uses a scheduling interface similar to other
project popular project management tools.
• RiskyProject has low implementation and
support costs. Compared with the comparative
products, RiskyProject provides unmatched value
2012 Intaver Institute
Project risk management made simple
4/9/2015
The RiskyProject Solution
6
• Provide state of art quantitative project risk management
tools
• Low cost
• Ease of implementation
• Limited initial training required
• Scalable
2012 Intaver Institute
Project risk management for Project
Managers
4/9/2015
The RiskyProject Solution
7
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
2012 Intaver Institute
•
•
•
•
•
•
•
•
4/9/2015
RiskyProject Features
8
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
2012 Intaver Institute
•
•
•
•
•
•
•
•
4/9/2015
RiskyProject Features (Continued)
9
•
•
•
•
WBS
Resources
Costs
Risk Register or Risk Lists
2012 Intaver Institute
RiskyProject uses common PM
artifacts
4/9/2015
RiskyProject Workflow
10
2012 Intaver Institute
4/9/2015
RiskyProject Workflow
RiskyProject’s workflow is compatible with PMI, Prince II, and other risk
management processes
11
Enter resources, cost and
income for each task
Enter complete WBS,
as it is done in other
project management
software
You may also import project schedules from other scheduling tools, such as Microsoft
Project or Primavera.
2012 Intaver Institute
4/9/2015
Define Project Schedule
12
Risk Register
2012 Intaver Institute
4/9/2015
Risk register
view
Separate
opened and
closed risk and
issues
Separate
threats or
opportunities
Pre mitigation
Probability,
Impact, and
Score
Post mitigation
Probability,
Impact, and
Score
13
Risk Form
4/9/2015
Double-click on a risk to view or modify Risk Information
Risk description
and status
2012 Intaver Institute
Management
Strategy
Cost of Risk
Review Timeline
14
4/9/2015
Qualitative Risk Analysis: Define Risk Probabilities and
Impacts
Outcome Types are
now qualitative
2012 Intaver Institute
If no schedule is attached, qualitative risk assessments can be performed
Outcomes for risk
categories are qualitative
and are based on risk
matrix settings
15
Mitigation Plans
2012 Intaver Institute
4/9/2015
Add mitigation or risk response plans (cost, expected reduction in
probability and impact, an descriptions. Plans can have sub-plans
16
Mitigation Waterfall Chart
2012 Intaver Institute
4/9/2015
Track total cost, expected reductions in probability or impact and
dates for mitigation plans
17
Risk Reviews and Risk History
2012 Intaver Institute
4/9/2015
All risk reviews with details can be saved and tracked in system
18
Assign Risks to Tasks and Resources
2012 Intaver Institute
Risks can be global (for
all tasks or resources)
or local (for specific
tasks or resources)
4/9/2015
If schedule is attached, quantitative risk assessments is performed
Define risk chance, outcome and
result. Risks can have mutually
exclusive outcomes, different
outcomes of the same risk
19
If you enter only the low, base
and high cost, duration, start
time and income, RiskyProject
will generate statistical
distribution based on this data
2012 Intaver Institute
In addition to risk events
you may define
uncertainties as statistical
distributions for:
• task cost
• task start time
• task duration
• income associated
with task
4/9/2015
Statistical Distributions
20
When your project schedule
and risk breakdown structure is
ready, click here to perform
Monte Carlo simulations
2012 Intaver Institute
4/9/2015
Monte Carlo Simulation
21
White bars represent
original project
schedule (no risks)
Blue bars represent
project schedule with
risks
2012 Intaver Institute
Compare original project schedule and result of analysis
4/9/2015
Result Gantt Chart
22
Results of Risk Analysis
Results of analysis
for project cost,
finish time, and
duration
Double click on any chart to view detailed information
2012 Intaver Institute
4/9/2015
Project Summary:
project duration, cost,
and finish time with
and without risks
23
Detailed results can be shown for each task
or project for cost, duration, start time, finish
time, and income.
Move the slider to
determine the chance
that project will be
within budget
2012 Intaver Institute
4/9/2015
Detailed Results of Analysis
Get detailed
statistical data
Data can be exported
as an image or text
24
4/9/2015
Cost vs Schedule Scatter Plot
2012 Intaver Institute
Move the slider to
determine the chance
of meeting both
schedule and budget
Base
Estimate
indicated by
yellow dot
This plot is often referred to as the “Bull’s eye” or
“Football” chart
25
Cost chart is generated based on
fixed and variables cost and
income associated with tasks and
resources
Compare forecasted
project costs with (blue
line) and without (red
line) risks
2012 Intaver Institute
4/9/2015
Cost, Income and Revenue
26
2012 Intaver Institute
4/9/2015
Probabilistic Cash Flow Analysis
Cash flow is generated based on
fixed and variables cost and
income associated with tasks and
resources
Compare cash flows
with (blue bars) and
without (red line) risks
27
Prioritize critical task or
risks
Tornado chart shows risks or other
parameters that have the most affect
on the project schedule
2012 Intaver Institute
4/9/2015
Sensitivity Analysis
28
2012 Intaver Institute
Crucial tasks for project cost and
duration can be different
4/9/2015
Crucial Tasks
Crucial tasks have the
most effect on the
project schedule
29
This task has low
duration but high risk
These tasks have
balanced risk versus
duration ratio.
2012 Intaver Institute
Risk chart shows task duration and versus risk, associated
with task
4/9/2015
Risk Chart
30
2012 Intaver Institute
4/9/2015
Risk Matrix
Risk Probability,
Impact and Score for
the current schedule
31
3 most important project
parameters (cost, duration,
and finish time)
3 most crucial tasks
2012 Intaver Institute
Project Dashboard 3x3
is a condensed view of
the most important
results of analysis
4/9/2015
Project Dashboard 3x3
32
3 most critical risks
For each task at any moment you may enter how much work has
been completed
Risky project automatically
adjusts the probability of risks
for partially completed tasks
2012 Intaver Institute
This task is 100%
completed (green bar)
4/9/2015
Project Tracking
This task is partially
completed (yellow bar)
33
New project forecast is done each time actual project data
is entered.
2012 Intaver Institute
Low, base, and
high forecast
4/9/2015
Tracking Results
Original (baseline)
project duration
Actual project
performance
34
Advanced Project Risk Management
• Risk register allows you to compare pre and post mitigation risk
scores
Select pre and post
mitigation baselines
to view on risk
register
Pre and post
mitigation risk
scores
2012 Intaver Institute
4/9/2015
View mitigation efforts
35
• View results for each baseline
• Select the working schedule that you will use to manage
the project
Select the current
schedule
Compare results for
each baseline
2012 Intaver Institute
Compare different baselines
4/9/2015
Advanced Project Risk Management
36
• Model different scenarios when project activities are uncertain
• Gives EV of project given uncertainties in project activities
Run alternative
project branches
probabilistically
2012 Intaver Institute
Conditional and Probabilistic Branching
4/9/2015
Advanced Project Risk Management
37
Integration with Project Management
Software
2012 Intaver Institute
4/9/2015
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.
38
Intaver Institute performs project risk management, risk
analysis, and decision analysis training and consulting
4/9/2015
Intaver Institute’s Services
• Project management: theory and best practices
• Introduction to project risk management: theory and case
studies
• Project decision analysis
• Quantitative methods in project management
2012 Intaver Institute
Popular Intaver’s training courses include:
• Introduction to RiskyProject: basic RiskyProject workflow
and features
• Advanced features of RiskyProject Professional
39