RiskyProject Lite 4.2
Project Management Software with Risk Register and Monte Carlo Analysis
RiskyProject Lite is project management software with integrated risk analysis. RiskyProject allows project managers to perform project planning, scheduling, quantitative risk analysis, and performance measurement of projects with multiple risks and uncertainties.
RiskyProject Lite is designed for project managers without advanced knowledge of risk analysis theory. With it, you can create a project schedule or import it from Microsoft® Project, Oracle Primavera, or other project management applications. Once you have your schedule, just define your risks using risk register and calculate the schedule to determine your risk profile. RiskyProject Lite will determine how risks and uncertainties will affect project schedule.
Seamless Integration with Microsoft® Project
Both RiskyProject Lite and RiskyProject Professional are seamlessly
integrated with Microsoft® Project:
Click here for more information about RiskyProject for Microsoft® Project.
RiskyProject Features
Project Scheduling
Integration with Microsoft® Project and Oracle® Primavera
RiskyProject is built around its own scheduling system. You can define task parameters, relationships between them, constraints, resources, and cost without using Microsoft® Project, Oracle® Primavera, or any other scheduling software.
However, if you are already a user of Project, Oracle Primavera, or other project management software, you can seamlessly open project, created by these applications and augment existing data by assigning uncertainties to your tasks and projects.
Risk Register
A risk register is a set of all risks and issues in the project. Issues are risks that have occurred and therefore are having an actual affect on your project. You can easily convert risks to issues. You can open and close risks. Risks in the risk register may have different properties (owner, recorder, contact, date recorded, date converted to issue, location, etc.). You may customize any properties for all projects.
Risks and issue can be assigned to different tasks and resources or be global. For example, you could assign the risk "Budgetary problem" to all tasks that this risk could affect. Each risk assignment will have different probabilities and outcomes. For example, "Budgetary problems" assigned to task "Project elaboration" will have chance of occurrence 30% and outcome "Restart task".
After calculation, the risk register will present calculated risk impact, risk probability and risk score, which is equal probability multiplied on impact.
In addition to the risk register, uncertainties in the RiskyProject can be represented using statistical distributions.
See Online Documentation for more information.
Non-schedule risks
Customizable Risk Categories
RiskyProject performs quantitative risk analysis on any types of risks outcomes including non-schedule risks. Non-schedule risk categories include quality, safety, performance, etc. You may add or replace any risk categories.
You can now rank risks of all types based on scores. Risks affecting quality, safety, technology, project duration, cost, and others can be ranked together. In addition, for non-schedule risks (quality, safety, etc.), you do not necessarily need a project schedule to perform analysis.
See Online Documentation for more information.
Assigning Risks to Tasks and Resources
Setting up your project for risk analysis has never been easier. RiskyProject's interface is designed to allow you to quickly add and edit your project risks. To assign risk to tasks you may use risk register, global and local risk views, assign them separately for each task or resource.
RiskyProject allows you to define default settings for task, resource and risk parameters and when you need help an interactive system of legends and on-screen help messages will guide you though the process of modeling your project schedule.
See Online Documentation for more information.
Result Gantt Chart
The results of your project risk analysis are shown on the Results Gantt chart. You will see the ranges for start and finish times of each task, and be able to compare them with baseline or original project schedule.
The RiskyProject scheduling engine is designed and optimized for risk analysis. Probabilistic calculations with multiple simulations are performed quickly: on small projects, the calculations are instantaneous. This is important, for as new information about the project performance becomes available, you can quickly reanalyze the project as often as required.
Risks and issues can be shown on the Gantt chart as arrows. The calculated impact of a risk is color-coded. For threats green = low, yellow = medium, and red = high. For opportunities, colors are opposite. The size of the arrow represents the risk probability. Click on an arrow to view information about the particular risk.
See Online Documentation for more information.
Risk Probability vs. Impact Matrix
The risk matrix shows project risks' impact and probabilities and allows you to identify critical risks. In addition, the Risk matrix shows both threats and opportunities. The Risk Matrix is fully customizable: you can define the size of the matrix and risk tolerance.
See Online Documentation for more information.
Probabilistic Earned Value Analysis
RiskyProject performs earned value analysis based on original project schedule and project schedule with risks and uncertainties (results of analysis). RiskyProject allows you to specify or calculate actual cost for each task. Actual cost, budgeted cost, and cost as a result of analysis (with risks and uncertainties) are displayed using interactive cash flow diagrams. You can determine difference between actual and budgeted cost on the each stage of the project.
See Online Documentation for more information.
Project Dashboard 3x3
Project Dashboard 3x3 is an easy way to view results of analysis: three main project parameters (cost, duration, finish time) with and without risk; three most crucial tasks, three most critical risks.
See Online Documentation for more information.
Optimistic and Pessimistic Project Schedule
Optimistic (low) and pessimistic (high) project schedule can be displayed separately on Result Gantt chart. It gives you an opportunity to analyze different project scenarios.
Tracking Projects
Because real-life data is sometimes the only way to assess your uncertainties correctly, tracking is one of the most important components of RiskyProject. To track a task, you enter the percentage of the task done on the particular date. RiskyProject then calculates the projected task duration and updates the risk profile of the task. The project schedule is recalculated to give you a more accurate estimate of total cost, project finish time, and duration.
Deadlines
RiskyProject allows you setup task deadlines and assign different actions to them. For example, tasks can be canceled if the task or reaches the deadline. In this case, the success rate of the task (chance the project or task will be completed) is reduced.
RiskyProject Lite and RiskyProject Professional
RiskyProject professional features advanced risk analysis functionalities: project planning, scheduling, quantitative risk analysis, and project performance measurement. RiskyProject Lite has the same project scheduling and performance measurement functionalities, but it includes only basic quantitative risk analysis functionalities.
| RiskyProject Features | RiskyProject Lite | RiskyProject Professional |
|---|---|---|
| Scheduling engine (Gantt chart, resources, costs) |  |
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| Integration with Microsoft® Project, Oracle Primavera, and other project management software* | |
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| Risk Register: threat, opportunities, and issues; easily assign risks to task and resources | |
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| Customizable risk categories: schedule, cost, safety, environment, quality, technology and others | |
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| Managing uncertainties in task duration, start and finish times, costs, income, work and resources | |
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| Monte Carlo simulation engine | |
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| Simulation Results Gantt chart | |
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| Risk Matrix: probability vs. outcomes | |
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| Project Dashboard 3x3 view: simple way to see main project parameters, three crucial tasks, and three critical risks | |
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| Correlations of risk events | |
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| Optimistic and pessimistic project schedule | |
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| Tracking project with uncertainties | |
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| Project and task deadlines | |
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| Export data and charts to various formats, including Microsoft® Office* | |
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| Multiple statistical distributions for duration, start and finish times and costs. | |
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| Probabilistic calendars | |
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| Project Summary View with simulation results | |
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| Simulation results for each task with charts and full statistical reports | |
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| Sensitivity analysis view: tornado chart to view critical project parameters | |
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| Managing mitigation plans using multiple baselines; pre- and post- mitigation probabilities, impacts, and scores | |
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| Risk "Waterfall" diagrams | |
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| Risk Analysis for product life cycle management | |
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| Tracking Gantt chart | |
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| Success Rate Gantt chart | |
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| Crucial Task Gantt chart | |
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| Risk Chart view (task duration/cost vs. risk) | |
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| Probabilistic and conditional branching | |
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| Risk templates | |
* third-party software should be purchased separately
