This presentation is an overview of integrated project and portfolio risk management and risk analysis process with RiskyProject Enterprise.
About Intaver Institute.
Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
www.intaver.com
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Project and Portfolio Risk Management with RiskyProject Enterprise
1. Intaver Institute Inc.
Project and Portfolio Risk
Management with
RiskyProject Enterprise
Project and Portfolio Risk
Management with
RiskyProject Enterprise
Intaver Institute Inc.
303, 6707, Elbow Drive S.W, Calgary, AB, Canada
Tel: +1 (403) 692-2252
Fax: +1 (403) 259-4533
www.intaver.com
2. Project and Portfolio Risk Management Process
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Project Portfolio
includes multiple project
schedules
Comprehensive risk
register
includes all information
about risk, issues, lesson
learned for the organization
Open project schedule
within a portfolio
Assign risks from risk
register to this schedule
Perform project risk analysis:
Monte Carlo simulations of
project schedule
Rank risks for the project
Rank projects within a
portfolio based on risk
exposure
Apply mitigation and
response plans to the critical
risks
Continuously
perform risk
management for
all project
3. Project Portfolio
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This is project portfolio.
Each Bar represents a
project.
This is a list of projects
within a portfolio
Project risk scores for
duration, cost, and other
parameters (quality, safety,
security, etc.)
Each project within a
portfolio has uncertainties
which calculated as a result
of Monte Carlo simulations
Percent completed for each
project
4. Portfolio risk register
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Portfolio risk register
includes all portfolio
risks with their
properties
Risks may have different
probabilities, impacts,
and scores
Risks can be assigned to
different projects and
within a project to
different tasks
Risk register includes
risks, issues, and
lessons learned
Risks can be open and
closed.
Risks can be threats,
opportunities, or both
5. Risk Properties
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Double click on risk
within a risk register
and assign different
risk properties
Cost of risk includes
potential and expect
losses before and after
mitigation
Risk response planning
Information for risk
reviews
6. Risk Categories
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Risk can belong to
different categories. The
list of risk categories is
fully customizable
You can define relative
important for each risk
category
Default risk categories
include schedule-related
categories (schedule and
scope, cost and income)
and non-schedule
categories (safety,
environment, quality,
legal, performance, and
technology)
7. Open particular project
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Double click on
the project
within a portfolio
and open project
schedule
This is Gantt
Chart of a
project schedule
This Project becomes current: youThis Project becomes current: you
may now edit this schedule
8. Assign Risks to Tasks and Resources
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This is corporate risk
register
This is current project
schedule
Drag this risk and drop it on
selected tasks:
“Delay due to weather” will
affect task “Drilling”
9. Define Risk Probability and Impact
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When you drop risk on
tasks you can define risk
probability and impact
This risk cause fixed
delay on 3 days (12%
chance) and quality
problems
This risk belongs to two
categories: schedule
and quality
10. Assigning Uncertainties
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You may also define risk
uncertainties in form of
statistical distributions
for cost, income,
duration and start time
This is statistical
distribution for the
duration of the selected
tasks
11. Monte Carlo Simulations
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Now you can perform
Monte Carlo
simulations
This is original project
schedule (no risks)
This is project schedule
with risks: the project
takes much longer
Six risks are assigned to this
task
12. Project cost with risks
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Project cost with risksProject cost without risks
Actual cost
13. Probabilistic project cash flow
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Monthly cash flow with
risksMonthly cash flow
without risks
Project NPV and IRR
14. Risk register for individual project
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This is a risk register for individual project. The list of risks is the
same as for portfolio but probabilities and impacts are different
These risks are not
assigned to this project
15. View results of risk analysis in project portfolio
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When you save individual project all
results on Monte Carlo simulation will be
saved in the database
Double click on each
project bar within a
portfolio Gantt Chart to
view results of Monte
Carlo simulations
17. Portfolio risk matrix
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Risks with a red area of
the matrix need to be
mitigated
Arrows represent
mitigation: probability
and impact of risks will
be reduced due to
mitigation efforts
18. Managing Mitigation Plans
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All mitigation and
response plans for project
portfolio are saved in the
database and shared for
all risks in the portfolio
Each mitigation plan
has cost which is
used in risk cost
calculation
You can assign these
plans to the risks
19. Defining Mitigation Plans
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You can assign mitigation
plans from the list of
available plans
This is risk waterfall
diagram: risk probabilities
and impacts are reducing
over time
20. Risk History
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Information how risk is
changing over time is
saved in the database
What user made the change New probabilities and impacts
The table shows in what
project the changes are made
21. Risk Reviews
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Risk can be regularly
reviewed. Review information
can be recorded
Reviews can be scheduled on
a regular basis
23. Risk Approval Process
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The user may not have permissions to enter
risk directly to portfolio risk register.
Manager can make hidden risk visible: the risk will be available for the portfolio
In this case the user will enter risk as hidden for other users and manager
will change status to visible: it constitutes an approval process
Hidden Risk
24. Risk Report
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RiskyProject generates detailed
customizable risk report
Report settings are saved in the database
25. User Management System
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RiskyProject has advanced user
management system
Different users can be assigned
to different projects
Users will have different roles
and permissions.
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Additional Resources
• White Papers and Articles: http://www.intaver.com/index-whitepapers.html
• Online Tutorials: http://www.intaver.com/index-tutorial4.html
• Project Decisions: http://www.projectdecisions.org
• YouTube Channel: https://www.youtube.com/channel/UCh3WQGV3vQAR0kdTJPlNwvQ
ContactDetails
Michael Trumper
Intaver Institute Inc.
mtrumper@intaver.com
403.692.2252
Project Think:
Why Good Managers Make Poor
Project Choices
Project Decisions: The Art and Science
Introduction to Project Risk
Management and Decision Analysis