Product Details

• Brand: Palisade
• Released on: 2000-02-11
• Platforms: Windows 98, Windows 95

Manufacturer's Description
Lets a single project file represent thousands of "what-if" scenarios, and allows users to analyse the risks involved with any project. This risk analysis is carried out using Monte Carlo simulation. Uncertain numeric values in fields are replaced with @RISK probability distribution functions which represent a range of possible values. During a simulation, @RISK recalculates the project hundreds or thousands of times. The result is a distribution of possible outcome values and the probability they will occur.

The Professional version of @RISK for Project adds three modelling features: probabilistic branching, if/then conditional modelling, and field and macro references in distributions. These are added with a new set of easy-to-use dialogue boxes and functions.

Probabilistic Branching
This allows a project to branch from one task to any number of other tasks during a simulation. Each of the task groups that could be branched to has a probability value. For example, upon completion of a design task, there may be a 10% chance that the bad weather construction tasks will be followed and a 90% chance that the standard construction tasks will be followed.
If/Then Conditional Modelling
This allows the user to check if certain conditions are true during a simulation. If they are true, @RISK will change values in the project or perform branching. For example, a user could enter conditional statements, such as, "If construction is completed after October 9th, then the clean-up cost is set to #20,000" or "If office remodelling takes more than 50 days, then branch to the section of the Project file that deals with 'Temporary Office Relocation'." If a condition is true in an iteration of the simulation, @RISK will make the appropriate change to the project so the results include the conditional effect.
Field and Macro References in Distributions
Task[Field] references and VBA macros can be used as arguments to distribution functions. With this new feature, @RISK distribution functions can be entered with non-numeric arguments, such as "RiskNormal(Design[Duration],5)". This allows values for distribution arguments to change each iteration of a simulation, as values in referenced fields change.

@RISK Professional for Project includes the latest version of RISKview Pro, the distribution viewing add-on from Palisade. RISKview Pro allows @RISK Pro for Project users to assess probabilities entered in their projects, quickly and easily.