RiskyProject

Project Risk Management Software

Intaver Institute Inc.

303, 6707, Elbow Drive S.W, 4280 East Tamiami Trail, 302-M,
Calgary, AB, Canada Naples Florida, 34112, USA
Tel: +1 (403) 692-2252 Tel: +1(510) 984 3527
Fax: +1 (403) 459-4533

www.intaver.com
 What Is RiskyProject?

RiskyProject is Windows-based project risk

management software.

• Project Scheduling
• Risk Register
• Quantitative risk analysis using Monte Carlo simulations
• Project performance measurement

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

• Budget
• Schedule
Projects • Quality
consistently
fail to meet: • Safety
• Technology
• Other measures
 The Project Management Problem

Reasons

• Human psychological limits

• Inadequate training
• Poor processes
• others

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 The Project Management Problem

Key Project Management Issues

• 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?
 The RiskyProject Solution

Project risk management made simple

• 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
 The RiskyProject Solution

Project risk management for Project

Managers

• Provide state of art quantitative project risk management

tools
• Low cost
• Ease of implementation
• Limited initial training required
• Scalable
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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
• 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
 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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 RiskyProject Workflow

RiskyProject uses common PM

artifacts

• WBS
• Resources
• Costs
• Risk Register or Risk Lists
 RiskyProject Workflow

RiskyProject’s workflow is compatible with PMI, Prince II, and other risk
management processes
 Define Project Schedule

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 Oracle Primavera.
 Risk Register
Risk register view

Separate opened and Pre mitigation Post mitigation

Separate threats or
closed risks, risk, issues, Probability, Impact, and Probability, Impact, and
opportunities
lessons learned Score Score
 Risk Form
Double-click on a risk to view or modify Risk Information

Risk description and

status

Management Strategy

Cost of Risk

Review Timeline
 Qualitative Risk Analysis: Define Risk Probabilities and
Impacts
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 Waterfall Chart
Track total cost, expected reductions in probability or impact and dates for
mitigation plans

Compare actual and planned

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

Information about risk reviews

Next review timing

 Assign Risks to Tasks and Resources
If schedule is attached, quantitative risk assessments is performed
Drag and drop risk on particular
task or group of tasks

Define risk chance, outcome and result. Risks can

have mutually exclusive outcomes, different
outcomes of the same risk
 Statistical Distributions
If you enter only the low, base and high cost, In addition to risk events you may define
duration, start time and income, RiskyProject uncertainties as statistical distributions for:
will generate statistical distribution based on • task cost
this data • task start time
• task duration
• income associated with task
Monte Carlo Simulation
When your project schedule and risk breakdown structure is
ready, click here to perform Monte Carlo simulations
 Result Gantt Chart
Compare original project schedule and result of analysis

White bars represent original

project schedule (no risks)

Blue bars represent risk

adjusted project schedule (with
risks and uncertainties)
 Results of Risk Analysis
Project Summary: project duration,
The meters show project risk score
cost, and finish time with and
for cost and duration
without risks

Results of analysis for

project cost, finish time,
and duration

Double click on any chart to view detailed information

 Detailed Results of Analysis

Move the slider to determine the

chance that project will be within
Detailed results can be shown for each task or budget
project for cost, duration, start time, finish time,
and income.

Data can be exported as an

Get detailed statistical image or text
data
 Cost vs Schedule Scatter Plot

Move the slider to determine the

chance of meeting both schedule and
budget

This plot is often

Base
referred to as
Estimate indicated by the “Bull’s eye”
yellow dot
or “Football”
chart
 Cost Analysis

Project cost without risks (red line)

Project cost with risks (blue line)

Cost chart is generated based on fixed and

variables cost and income associated with tasks
and resources
 Probabilistic Cash Flow Analysis

Cash flow with risks (blue bars)

Project cost without risks (red line)

Cash flow is generated based on fixed and

variables cost and income associated with tasks
and resources
 Sensitivity Analysis

Prioritize critical task or risks

Tornado chart shows risks or other parameters that have

the most affect on the project schedule
 Crucial Tasks

Crucial tasks for project cost and duration can be

different

Crucial tasks are red

Crucial tasks have the most effect

on the project schedule
 Risk Chart
Risk chart shows task duration and versus risk, associated
with task

These tasks have balanced risk

versus duration ratio.
This task has low duration but
high risk
 Risk Matrix
The arrow represents risk
mitigation

Risk Probability, Impact and

Score for the current schedule
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 Project Dashboard 3x3
Project Dashboard 3x3 is a condensed view of the most important
results of analysis

3 most important project parameters (cost,

duration, and finish time)

3 most crucial tasks

3 most critical risks

 Project Tracking
For each task at any moment you may enter how much work has been completed

This task is 100% completed (green bar)

Risky project automatically adjusts the probability

of risks for partially completed tasks

This task is partially completed

(yellow bar)
 Tracking Results
New project forecast is done each time actual project data is entered.

Low, base, and high forecast

Original (baseline) project duration

Actual project performance

 Advanced Project Risk Management
View mitigation efforts

• Risk Register allows you to compare pre and post mitigation risk
scores for different baselines

Pre and post mitigation

risk scores

Select pre and post mitigation

baselines to view on risk
register
 Advanced Project Risk Management

Compare different baselines

• View results for each baseline

• Select the working schedule that you will use to manage
the project

Compare results for each

Select the current schedule baseline
 Advanced Project Risk Management

Conditional and Probabilistic Branching

• Model different scenarios when project activities are uncertain
• Calculate Expected Value of project given uncertainties in project activities

Run alternative project

branches probabilistically
 Advanced Project Risk Management
Weather Calendar

• Model non working days due to weather

Weather calendar settings:

number of non-working days
due to weather each month

Non working days due to

weather
 Integration with Scheduling Software
RiskyProject’s Add –in installed on the Microsoft Project ribbon allows users move projects
seamlessly into RiskyProject

RiskyProject Add-in for

Microsoft Project

Microsoft Project

RiskyProject can import schedules from Oracle Primavera and other project
management software.