Page 1 of 1

@Risk for Projects - Essential Decision Making Tool

Posted: Sun 06 Mar 2011 3:49 am
by satisfactionuk
Hi,
If you’re a project manager whose using Microsoft Project then you really should consider upgrading your package with this BRILLIANT add on. Palisades @Risk for Project does exactly what it says on the box. With this package you will never again have to rely on the single iteration provided by MS Projects inbuilt pert analysis function. With @Risk for Projects you can do a whole host of simulations on just about any numerical aspect of your project whether it be for a single task, all the tasks in a phase or the whole project.

I am not going to publish a book on this subject in this forum because I really do want you to go to the site and watch the tutorial for yourself and having done so you like me will be saying to yourself why didn’t I find this sooner.

Of course a lot of you may not be using MS Project as your scheduling tool, that is fine because you can still use @Risk along side your package. In this case all you have to do is export your .mpp file into Excel and then do all the analysis using palisades standard @Risk for Excel package.

Another tool that I have studied greatly from Palisade is their Precision Tree program, which is of the same exceptionally high quality as @Risk. This programme is fantastic for comparative risk analysis such as assessing and making the decision between using different suppliers. However, it does not stop there, if you want to make informed decisions on just about any information where there are several alternatives that can be rendered down to a numerical indicator then this programme is for you. The link for this Palisades Precision Tree tools tutorial is http://www.palisade.com/precisiontree/5/tips/en/gs/


Getting back to @Risk for Projects here is the link to their tutorial page and an index of the subject matter.

http://www.palisade.com/training/rp4tut_menu.asp

@RISK for Project Tutorial Movies
OVERVIEW
GETTING STARTED
@RISK Toolbar
Defining @RISK Functions
@RISK Functions
for a Set of Fields
Editing Distributions
Distribution Fitting
(Pro version only)
Defining Outputs
RUNNING A RISK ANALYSIS
Simulation Settings
Simulation Statistics
and Data
Stepping Through
a Simulation
GRAPHING THE RESULTS
Histograms and Cumulative Graphs
Overlay and Summary Graphs
Sensitivity and Scenario Analysis
Reporting in Excel
Reporting in Project
ADVANCED FEATURES
Correlating Inputs
Multiple Simulations
Critical Indices
Risk Categories
PRO VERSION FEATURES
Probabilistic Branching
If/Then Conditional Modeling
Probabilistic Calendars
Global Variables
Field References in Distribution Arguments
Parameter Entry Table