Risk Analysis for Asta Powerproject

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http://www.elecosoft.com/software/asta-powerproject/
Content
Risk Analysis for Asta Powerproject .................................................................................................. 1
What's new in this version ................................................................................................................. 5
Create "risk event" tasks by estimating the probability of tasks ................................................. 5
Apply specific distributions to individual tasks............................................................................. 6
Introduction to Risk Analysis for Asta Powerproject ........................................................................ 7
Benefits of analysing risk ................................................................................................................... 7
Overview of the risk analysis process ............................................................................................... 8
Creating a project schedule in Asta Powerproject ....................................................................... 8
Estimating the uncertainty of task durations and the probability of tasks taking place ........... 8
Carrying out risk analysis on your project schedule ..................................................................... 9
Review the results of risk analysis ................................................................................................ 9
Apply an iteration that you are happy with to the live schedule................................................10
Available sampling methods............................................................................................................10
What is sampling? ........................................................................................................................10
The Monte Carlo sampling method .............................................................................................11
The Latin Hypercube sampling method ......................................................................................12
Sampling and the criticality index ...............................................................................................13
Available distributions ......................................................................................................................14
Uniform distribution .....................................................................................................................14
Normal distribution ......................................................................................................................14
Skewed normal distribution .........................................................................................................15
Skewed triangular distribution ....................................................................................................15
Analysing the results of risk analysis ..............................................................................................16
Duration Sensitivity report ...........................................................................................................16
Cost Sensitivity report ..................................................................................................................16
Estimating the duration uncertainty and probability of tasks .......................................................20
Estimating the duration uncertainty and probability of individual tasks ......................................23
Estimating the duration uncertainty and probability of tasks using code libraries ......................23
Creating risk analysis codes ........................................................................................................24
Assigning risk analysis codes to tasks ........................................................................................25
Estimating duration uncertainty using default percentages .........................................................25
Specifying how you have estimated the duration uncertainty and probability of tasks ..............26
Explanation of the fields and buttons on the dialog ..................................................................27
Applying specific distributions to individual tasks..........................................................................28
Checking the schedule prior to carrying out risk analysis .............................................................29
Carrying out risk analysis .................................................................................................................29
Flowchart showing steps involved in carrying out risk analysis ................................................29
Explanation of the fields and buttons on the dialog ..................................................................31
What's new in this version
Create "risk event" tasks by estimating the probability of tasks
You can now estimate the probability, in percentage terms, of tasks taking place for the purposes of risk
analysis. Specifying a task probability other than 100 makes a task a "risk event" - i.e. a task that has a
probability of occurring but that will not definitely occur. For example, you may want to create a "risk event"
task to represent a possible delay in the delivery of certain items. If you specify task probabilities, the
probability of risk event tasks is taken into account in each iteration of risk analysis, meaning that the risk
event tasks will be included in some iterations but not in others. If you specify that a task has an 80%
probability of taking place, the task will appear in - and therefore affect the duration of - roughly 80% of
risk analysis iterations.
Estimating the duration uncertainty of tasks is a necessary part of risk analysis, but you can choose
whether or not to estimate the probability of tasks - and you can estimate the probability of as many, or as
few, tasks as you wish. If you do not estimate the probability of a task, it is assumed to be 100% likely to
occur.
You can estimate the probability of tasks in the following ways:

 On individual tasks, by entering a probability percentage into the new Task probability field that
has been added to the Task tab of the Bar and Task Properties dialog - and to the corresponding
tab of the properties view.

 Using code libraries, by creating codes that define the minimum and maximum duration values,
and the task probability, all in terms of percentages. You can then assign the codes to tasks.
Apply specific distributions to individual tasks
You specify the distribution that you want to use each time you carry out risk analysis, on the Risk
Settings tab of the Risk Analysis dialog. You can now also specify that particular distributions should be
used with individual tasks. If you apply a specific distribution to a task, this distribution is always used for
that particular task when the duration of tasks is determined during risk analysis, regardless of the
distribution that you select on the Risk Settings tab of the Risk Analysis dialog.
You apply specific distributions to tasks using the new Task distribution field that has been added to
the Task tab of the Bar and Task Properties dialog - and to the corresponding tab of the properties view:

You can also apply distributions to individual tasks by displaying the Task distribution field in the
spreadsheet and selecting the distributions that you want to apply to tasks in this field.
Introduction to Risk Analysis for Asta Powerproject
Risk Analysis is a powerful analytical tool that you can use to assess and identify risks within your Asta
Powerproject projects. Risk Analysis helps you to create more accurate and attainable schedules that are
more likely to be on time and within budget - i.e. projects that are more likely to succeed.
You can use Risk Analysis to analyze risk in any Asta Powerproject project. If you manage programmes of
projects, you can choose to analyze risk across the entire programme or in discrete areas of the
programme as required.
Risk Analysis identifies the tasks within your projects that are most likely to cause delays or cost overruns
if they are allowed to slip, which enables you to identify those tasks that you need to monitor most closely.
It also enables you to assess the likelihood of a project finishing on a particular date, of costing a certain
amount or of generating a certain amount of income.

Benefits of analysing risk

A broad definition of project success is for a project to be on time and within budget. Assessing and
analyzing risk in your projects helps you to create more accurate and attainable schedules that are more
likely to be on time and within budget - i.e. projects that are more likely to succeed.
Every project involves an element of risk. Risk analysis identifies the most sensitive tasks within a project
- those that are most likely to affect the project finish date or overall cost if they are not monitored closely.
Risk analysis also indicates the likelihood of a particular finish date, cost amount, income amount or
margin amount being accurate. Understanding this enables you to set targets accurately, to create
appropriate contingencies and to negotiate contracts with a fuller knowledge of the risks involved in your
projects.
If you plan portfolios of projects rather than single projects, risk analysis helps you to prioritize projects
within a portfolio in terms of their risk, thereby managing risk across the entire portfolio of projects.
Overview of the risk analysis process
The process of using Risk Analysis to assess and analyze risk in your projects can be broken down into the
following main stages:

Each of these steps is described below.

Creating a project schedule in Asta Powerproject
You create your project schedule in Asta Powerproject as you would do normally. Once you have created
your project, reschedule it so that Asta Powerproject calculates the finish date of the project using the
critical path method.
Estimating the uncertainty of task durations and the probability of tasks taking
place
You estimate the uncertainty of task durations by specifying minimum and maximum values and applying
these to the tasks. The minimum and maximum values equate to a minimum and maximum duration that
you think the task may take.
You can specify the minimum and maximum values in terms of duration or percentage. For example, if a
task has a duration of 10 days, but you feel that the task could take between 8 and 12 days to complete,
depending on circumstances, you could specify a minimum value of 8 days and a maximum value of 12
days, or a minimum value of 80% and a maximum value of 120%. There are a number of ways of estimating
the uncertainty of task durations.
You estimate the probability of tasks taking place by specifying percentage values against tasks. There
are two ways of estimating the probability of tasks taking place.
Carrying out risk analysis on your project schedule
Once you have estimated the uncertainty of the durations of the tasks in a project, you can carry out risk
analysis on the project, or on a section of the project. When carrying out risk analysis, you can specify the
number of iterations that you want to be performed. Each iteration corresponds to one pass of the risk
analysis process on a project. Within each iteration, Risk Analysis generates a new duration and new cost
and income information for each task, which results in the project finish date, cost amount and income
amount being different for each iteration.
As well as specifying the number of iterations that are performed during risk analysis, you can specify the
sampling method that is used to generate new durations for each task and the distribution to use - ie the
way in which the selected sampling method selects a duration that falls between the minimum and
maximum values for each task for each iteration.
Review the results of risk analysis
Once you have carried out risk analysis on a project, you can use a variety of graphical reports to review
the results:

 Duration Sensitivity report - identifies the tasks in a project that are most likely to affect the finish date
of the project if their duration is changed - ie the tasks most likely to cause delays unless they are
monitored closely.
 Cost Sensitivity report - identifies the tasks in a project that are most likely to affect the total cost of
the project if their cost is changed - ie the tasks most likely to cause an increase in costs unless they
are monitored closely.
 Criticality Index Sensitivity report - identifies the tasks in a project that appear on the critical path most
often in the iterations that are produced during risk analysis.
 Finish Date Likelihood and Distribution report - identifies the number of times each potential project
finish date was achieved across the iterations that were carried out during the last risk analysis
operation, the likelihood in percentage terms of a particular project finish date being accurate, the
earliest and latest possible project finish dates, the mean project finish date, and the standard
deviation from the mean.
 Cost Likelihood and Distribution report - identifies the number of times each potential project cost
amount was achieved across the iterations that were carried out during the last risk analysis
operation, the likelihood in percentage terms of a particular project cost amount being accurate, the
lowest and highest possible project cost amounts, the mean project cost amount, and the standard
deviation from the mean.
 Income Likelihood and Distribution report - identifies the number of times each potential project
income amount was achieved across the iterations that were carried out during the last risk analysis
operation, the likelihood in percentage terms of a particular project income amount being accurate,
the lowest and highest possible project income amounts, the mean project income amount, and the
standard deviation from the mean.
 Margin Likelihood and Distribution report - identifies the number of times each potential project
margin amount was achieved across the iterations that were carried out during the last risk analysis
operation, the likelihood in percentage terms of a particular project margin amount being accurate,
the lowest and highest possible project margin amounts, the mean project margin amount, and the
standard deviation from the mean.
Apply an iteration that you are happy with to the live schedule
Once you have reviewed the results of risk analysis, you can select the iteration that gives you the project
finish date or cost and income amount that you are most happy with, then apply the iteration to the live
schedule. This gives you a risk analysis-adjusted project schedule.
You can also create baselines from iterations.

Available sampling methods

Risk Analysis offers you a choice of two sampling methods, which can be used to generate a different
possible duration for each task for each iteration: Monte Carlo and Latin Hypercube.
What is sampling?
Sampling is the process by which values are taken randomly from a probability distribution - a range of
possible values. Sampling takes place repetitively during risk analysis, as a different duration is selected
for each task for every iteration, with each duration falling within the minimum and maximum duration
range that has been specified for each task.
Risk Analysis supports four distributions. The examples in this topic are based on the use of a normal
distribution, as illustrated below:

A probability distribution can be expressed as a cumulative curve, with the X axis representing the range
of possible values - in the case of Risk Analysis, the range of possible durations that has been specified
for a task - and the Y axis representing the cumulative probability of the corresponding values on the X
axis. This is illustrated in the case of a normal distribution below:
The shape of the cumulative curve differs depending on the distribution you choose to use.
During a risk analysis iteration, for each task, a random number between 0 and 1 is generated. This
random number is plotted on the Y axis of the cumulative probability distribution graph and used to select
the corresponding value from the X axis. This is illustrated in the example below, where a random number
of 0.3 is generated, resulting in duration x being sampled from the range of possible durations:

Plotted onto the normal distribution, the sampled value would appear as follows:

A different duration is sampled during each iteration that is performed.

The Monte Carlo sampling method
Using the Monte Carlo sampling method, a completely random number between 0 and 1 is generated for
each iteration, plotted on the Y axis of the cumulative probability distribution graph and used to select the
corresponding value from the X axis.
Because of the shape of the normal distribution's cumulative curve, the more likely outcomes - those
possible durations in the range at which the cumulative curve is at its steepest - are more likely to be
sampled using the Monte Carlo method. This is also the case if you use a skewed normal or skewed
triangular distribution. If you perform a large number of iterations when carrying out risk analysis, this is
not a problem, as the large number of iterations means that it is likely that the sampled durations cover
the whole possible range. However, if you perform a small number of iterations, it is possible that the
durations selected by the Monte Carlo method can 'cluster' around the area of the distribution that has a
higher probability of occurrence. This can result in risk analysis under-representing the outcomes at the
outer edges of the probability distribution.
A simplified example of this is illustrated in the following diagram, which shows the values selected during
a risk analysis in which only five iterations are performed. In this example, the random numbers generated
by the Monte Carlo method have all clustered around the area of the distribution that has a higher
probability of occurrence, and the values in the outer ranges of the distribution are not represented at all:

Plotted onto the normal distribution, these sampled values would appear as follows:

If you intend to perform a relatively small number of iterations when carrying out risk analysis, it is
advisable to use the Latin Hypercube sampling method rather than Monte Carlo, as this method ensures
that the sampled values are spread evenly across the whole distribution and avoids the potential problem
of clustering.
The Latin Hypercube sampling method
Although the Monte Carlo sampling method has been proven to provide reliable results, as explained
above, it can be less reliable when a small number of iterations are performed during risk analysis.
The Latin Hypercube sampling method gets around this problem. Using Latin Hypercube, the probability
distribution is split into n segments of equal probability, where n is the number of iterations that are to be
performed during risk analysis. As the risk analysis progresses, each of the n segments is sampled once
(i.e. a random number is selected from within each segment), and only once.
For example, a risk analysis with 500 iterations would split the probability distribution into 500 segments,
each representing 0.2% of the total distribution. For the first iteration, a random number between 0 and
0.2 would be generated, plotted on the Y axis of the cumulative probability distribution graph and used to
select the corresponding value from the X axis; for the second iteration, a random number between 0.2
and 0.4 would be generated; and so on.
When a small number of iterations are performed, this has the advantage of generating a set of possible
durations that more precisely reflects the shape of a sampled distribution than pure random (Monte Carlo)
samples.
A simplified example of this is illustrated in the following diagram, which - as in the previous example -
shows the values selected during a risk analysis in which only five iterations are performed. In this
example, the Y axis of the cumulative probability distribution graph is split into five segments of equal
probability. The splits occur on the Y axis at the 0.2, 0.4, 0.6 and 0.8 points and the segments are shaded
using different colors. A random number is selected within each of these segments and used to select the
corresponding value from the X axis:

Plotted onto the normal distribution, these sampled values would appear as follows:

Given that Latin Hypercube sampling generates a set of values that more precisely reflects the shape of a
distribution, it can be viewed as a more efficient sampling method than Monte Carlo in situations where
fewer iterations are performed.
Sampling and the criticality index
As the durations sampled for each task differ from one iteration to another, tasks can appear on the critical
path in some iterations but not in others. This is illustrated in the diagrams below.
The first diagram represents a project schedule containing three tasks: A, B and C. Three possible
durations are shown for each task. The first figure is the minimum value in the range of possible durations,
the second is the actual estimated duration of the task in the project and the third is the maximum value
in the range of possible durations. All three tasks are currently on the critical path:

The overall time taken to complete all three tasks could be anywhere from 12 (2+7+3) to 27 (8+11+8).
In the following diagram, task D has been added to the project schedule:
If risk analysis is performed again on the project, the durations selected for task B will sometimes be
greater than those selected for task D, and vice-versa. Therefore, the critical path will sometimes be A-B-
C and sometimes A-D-C. The relative frequency of the alternative critical paths can tell you a lot about the
nature of a project.
Risk Analysis records the percentage of time each task spends on the critical path during the simulation.
This is known as a task's criticality index. The criticality index is a measure of the importance of a task
within a project: the higher the criticality index, the more important the task and the more likely the task
is to affect the finish date of the project.

Available distributions
Risk Analysis supports four distributions. The distribution you choose affects the way in which the selected
sampling method - either Monte Carlo or Latin Hypercube - selects a duration for each task for each
iteration that is performed during risk analysis.
You specify the distribution that you want to use each time you carry out risk analysis, on the Risk
Settings tab of the Risk Analysis dialog. You can also specify that particular distributions should be used
with individual tasks. If you apply a specific distribution to a task, this distribution is always used for that
particular task when the duration of tasks is determined during risk analysis, regardless of the distribution
that you select on the Risk Settings tab of the Risk Analysis dialog.
Uniform distribution
Using this distribution, the selected sampling method takes a random value from within the minimum and
maximum duration range that has been specified for each task. If you plotted a graph of hundreds of such
random values, the graph would approximate a straight line. The current duration of the task within the
project is ignored.

The uniform distribution will provide the most useful results in cases where you know that the duration of
tasks will fall somewhere between two values, but you have no feel for the probable duration. This may be
the case if someone else has planned a schedule.
Normal distribution
Using this distribution, the selected sampling method takes a random value from within the minimum and
maximum duration range that has been specified for each task, tending towards the middle of the duration
range. If you plotted a graph of hundreds of such random values, the graph would approximate a normal
curve. The current duration of the task within the project is ignored.

The normal distribution will provide the most useful results in cases where you know that the duration of
tasks will fall somewhere between two values and is most likely to fall midway between them.
Skewed normal distribution
Using this distribution, the selected sampling method takes a random value from within the minimum and
maximum duration range that has been specified for each task, tending towards the current duration of
the task within the project. If you plotted a graph of hundreds of such random values, the graph would
approximate a normal curve, but with a peak around the current duration.

The skewed normal distribution will provide the most useful results in cases where you know that the
duration of tasks will fall somewhere between two values and is most likely to fall on the current duration,
in other words where you are fairly confident that the current duration of tasks in the schedule is accurate.
Skewed triangular distribution
This distribution produces similar results to the skewed normal distribution. As with the skewed normal
distribution, the selected sampling method takes a random value from within the minimum and maximum
duration range that has been specified for each task, tending towards the current duration of the task
within the project. If you plotted a graph of hundreds of such random values, the graph would approximate
a triangle, with its apex around the current duration.

As with the skewed normal distribution, the skewed triangular distribution will provide the most useful
results when you are fairly confident that the current duration of tasks in the schedule is accurate.
Analysing the results of risk analysis
Once you have carried out risk analysis on a project, you can use a variety of graphical reports to review
the results:

Duration Sensitivity report

You use the Duration Sensitivity report to identify the tasks in a project that are most likely to affect the
finish date of the project if their duration is changed - ie the tasks most likely to cause delays unless they
are monitored closely.
The Duration Sensitivity report indicates the correlation between the duration of individual tasks and the
overall elapsed duration of the project (or the duration of the current branch or view, depending on the
scope of the last risk analysis operation). The correlation is calculated using either Pearson's Product
Moment Correlation Coefficient or Spearman's Rank Correlation Coefficient. Both correlation coefficients
return a value in the range between -1.0 and 1.0 for each task. The sensitivity report converts these values
into percentages in the range between -100% and 100%. You can interpret the values as follows:

 A value of -100% indicates an exact negative correlation between the duration of a task being reduced
and the finish date of the project increasing. It is worth noting that a -100% correlation would be
extremely rare in Asta Powerproject data.
 A value of 100% indicates an exact positive correlation between the duration of a task being increased
and the finish date of the project increasing.
 A value of 0% indicates that there is no correlation between the duration of a task being increased
and the finish date of the project increasing.

The tasks with the highest percentages are those most likely to cause delays. The report lists the tasks in
descending order of percentage - whether the percentage is positive or negative. For example, any tasks
with percentages of -100% and 100% are listed first, followed by tasks with percentages of -99% and 99%,
and so on. You can specify the maximum number of tasks to include in the report. If, for example, you
choose to include a maximum of 100 tasks in the report, the report lists the 100 tasks in the project that
are most likely to cause delays.
Bear in mind that correlation does not equal causation: a high positive or negative correlation does not
necessarily mean that the duration of a task being increased or reduced will definitely result in the duration
of the project being increased; it merely means that the duration of the task happened to be lower or
higher in many iterations in which the duration of the project increased.
To access the Duration Sensitivity report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Sensitivity. The
Sensitivity Reports dialog appears.
2. Click the Duration Sensitivity tab.

Cost Sensitivity report

You use the Cost Sensitivity report to identify the tasks in a project that are most likely to affect the total
cost of the project if their cost is changed - ie the tasks most likely to cause an increase in costs unless
they are monitored closely.
The Cost Sensitivity report indicates the correlation between the cost of individual tasks and the overall
cost of the project (or the cost of the current branch or view, depending on the scope of the last risk
analysis operation). The correlation is calculated using either Pearson's Product Moment Correlation
Coefficient or Spearman's Rank Correlation Coefficient. Both correlation coefficients return a value in the
range between -1.0 and 1.0 for each task. The sensitivity report converts these values into percentages in
the range between -100% and 100%. You can interpret the values as follows:

 A value of -100% indicates an exact negative correlation between the cost of a task being reduced
and the cost of the project increasing. It is worth noting that a -100% correlation would be extremely
rare in Asta Powerproject data.
 A value of 100% indicates an exact positive correlation between the cost of a task being increased
and the cost of the project increasing.
 A value of 0% indicates that there is no correlation between the cost of a task being increased and
the cost of the project increasing.

The tasks with the highest percentages are those most likely to cause an increase in costs. The report lists
the tasks in descending order of percentage - whether the percentage is positive or negative. For example,
any tasks with percentages of -100% and 100% are listed first, followed by tasks with percentages of -
99% and 99%, and so on. You can specify the maximum number of tasks to include in the report. If, for
example, you choose to include a maximum of 100 tasks in the report, the report lists the 100 tasks in
the project that are most likely to cause an increase in costs.
Bear in mind that correlation does not equal causation: a high positive or negative correlation does not
necessarily mean that the cost of a task being increased or reduced will definitely result in the cost of the
project being increased; it merely means that the cost of the task happened to be lower or higher in many
iterations in which the cost of the project increased.
To access the Cost Sensitivity report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Sensitivity. The
Sensitivity Reports dialog appears.
2. Click the Cost Sensitivity tab.

Criticality Index Sensitivity report

You use the Criticality Index Sensitivity report to identify the tasks in a project that appear on the critical
path most often in the iterations that are produced during risk analysis.

The critical path in the live data does not apply to all iterations; during risk analysis, the critical path can
change with each iteration, as different durations are selected for tasks. The relative frequency of the
alternative critical paths can tell you a lot about the nature of a project.
The Criticality Index Sensitivity report indicates the percentage of the iterations in which each task is on
the critical path. The criticality index of a task is a measure of the importance of the task within a project:
the higher the criticality index, the more important the task and the more likely the task is to affect the
finish date of the project.
The report lists the tasks in descending order of percentage - whether the percentage is positive or
negative. For example, any tasks with percentages of -100% and 100% are listed first, followed by tasks
with percentages of -99% and 99%, and so on. You can specify the maximum number of tasks to include
in the report. If, for example, you choose to include a maximum of 100 tasks in the report, the report lists
the 100 tasks in the project that appear on the critical path most often.
In addition to viewing the Criticality Index Sensitivity report, you can view the criticality index of tasks in a
project once you have carried out risk analysis by displaying the Criticality index field in the spreadsheet.
To access the Criticality Index Sensitivity report:
1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Sensitivity. The
Sensitivity Reports dialog appears.
2. Click the Criticality Index Sensitivity tab.

Finish Date Likelihood and Distribution report

You use the Finish Date Likelihood and Distribution report to identify:

 The number of times each potential project finish date was achieved across the iterations that were
carried out during the last risk analysis operation. This is indicated by the vertical bars in the report
and the left-hand y axis. The finish date of the project in the live data is highlighted in a different color.
 The likelihood in percentage terms of a particular finish date being accurate. This is indicated by the
cumulative line graph and the right-hand y axis.
 The earliest and latest possible project finish dates (i.e. best and worst case scenarios).
 The mean finish date, and the standard deviation from the mean.

To access the Finish Date Likelihood and Distribution report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Likelihood and
Distribution. The Likelihood and Distribution Reports dialog appears.
2. Click the Finish Date tab.

Cost Likelihood and Distribution report

You use the Cost Likelihood and Distribution report to identify:

 The number of times each potential project cost amount was achieved across the iterations that were
carried out during the last risk analysis operation. This is indicated by the vertical bars in the report
and the left-hand y axis. The project cost in the live data is highlighted in a different color.
 The likelihood in percentage terms of a particular project cost amount being accurate. This is indicated
by the cumulative line graph and the right-hand y axis.
 The lowest and highest possible project cost amounts (i.e. best and worst case scenarios).
 The mean project cost amount, and the standard deviation from the mean.

To access the Cost Likelihood and Distribution report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Likelihood and
Distribution. The Likelihood and Distribution Reports dialog appears.
2. Click the Cost tab.

Income Likelihood and Distribution report

You use the Income Likelihood and Distribution report to identify:

 The number of times each potential project income amount was achieved across the iterations that
were carried out during the last risk analysis operation. This is indicated by the vertical bars in the
report and the left-hand y axis. The project income in the live data is highlighted in a different color.
 The likelihood in percentage terms of a particular project income amount being accurate. This is
indicated by the cumulative line graph and the right-hand y axis.
 The lowest and highest possible project income amounts (i.e. best and worst case scenarios).
 The mean project income amount, and the standard deviation from the mean.

To access the Income Likelihood and Distribution report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Likelihood and
Distribution. The Likelihood and Distribution Reports dialog appears.
2. Click the Income tab.

Margin Likelihood and Distribution report

You use the Margin Likelihood and Distribution report to identify:

 The number of times each potential project margin amount (income minus cost) was achieved across
the iterations that were carried out during the last risk analysis operation. This is indicated by the
vertical bars in the report and the left-hand y axis. The project margin in the live data is highlighted in
a different color.
 The likelihood in percentage terms of a particular project margin amount being accurate. This is
indicated by the cumulative line graph and the right-hand y axis.
 The lowest and highest possible project margin amounts (i.e. best and worst case scenarios).
 The mean project margin amount, and the standard deviation from the mean.

Note that unlike the other likelihood and distribution reports, in which the values on the x axis go from the
lowest on the left to the highest on the right, the x axis of this report shows the highest value at the far left
and the lowest value at the far right. This is because higher margins are less likely to be achieved than
lower margins.
To access the Margin Likelihood and Distribution report:

1. Click the Reports control on the Results tab of the Risk Analysis dialog and select Likelihood and
Distribution. The Likelihood and Distribution Reports dialog appears.
2. Click the Margin tab.

As well as viewing the graphical reports on screen, you can copy the information from the reports to the
Windows® Clipboard and export them to Microsoft Excel® for further manipulation.
Estimating the duration uncertainty and probability of tasks
Before carrying out risk analysis on a project for the first time, you should estimate the duration uncertainty
and probability of the tasks in the project.
The duration uncertainty of tasks provides Risk Analysis with the minimum and maximum duration range
between which a random duration should be selected for each task for each iteration. For example, if a
task has a duration of 10 days, but you feel that the task could take between 8 and 12 days to complete,
depending on circumstances, you could specify a minimum value of 8 days and a maximum value of 12
days in terms of duration, or a minimum value of 80% and a maximum value of 120% in terms of
percentages.
The probability of tasks provides Risk Analysis with the likelihood, in percentage terms, of a task taking
place. Specifying a task probability other than 100 makes a task a "risk event" - ie a task that has a
probability of occurring and that will not definitely occur. For example, you may want to create a "risk event"
task to represent a possible delay in the delivery of certain items. If you specify task probabilities, the
probability of risk event tasks is taken into account in each iteration of risk analysis, meaning that the risk
event tasks will be included in some iterations but not in others. If you specify that a task has an 80%
probability of taking place, the task will appear in - and therefore affect the duration of - roughly 80% of
risk analysis iterations.
Estimating the duration uncertainty of tasks is a necessary part of risk analysis, but you can choose
whether or not to estimate the probability of tasks - and you can estimate the probability of as many, or as
few, tasks as you wish. If you do not estimate the probability of a task, it is assumed to be 100% likely to
occur.
You can estimate the duration uncertainty and probability of tasks in the following ways:

 On individual tasks, by entering precise minimum and maximum durations and a probability
percentage into fields for each individual task.
 Using code libraries, by creating codes that define the minimum and maximum duration values, and
the task probability, all in terms of percentages. You can then assign the codes to tasks.
 For duration uncertainty only, using default percentages, by entering minimum and maximum values
in terms of percentages in the Risk Analysis dialog. It is not possible to use a default percentage to
estimate the probability of tasks.

You can use whichever method suits you, or you can use any combination of the methods. For example,
you can estimate duration uncertainty by entering minimum and maximum values in terms of duration on
a number of individual tasks, then apply default percentages to the rest of the tasks in the project.
How duration uncertainty and task probability is calculated when more than one
method is used

1. If you use a combination of methods of estimating duration uncertainty and task probability in a
project, Risk Analysis determines the uncertainty of each task's duration and the probability of the
task as follows:
2. If the task has minimum and maximum duration values and a task probability entered into fields,
these are used.
3. If the task does not have minimum and maximum duration values and a task probability entered into
fields, but has been assigned a code from a risk analysis code library, the values that have been
entered against the code are used.
4. If the task does not have minimum and maximum duration values and a task probability entered into
fields and has not been assigned a code from a risk analysis code library, but the bar or a parent task
has been assigned a code from a risk analysis code library, the values that have been entered against
the code are used.
5. If the task does not have minimum and maximum duration values and a task probability entered into
fields and the task, its bar or a parent task have not been assigned a code from a risk analysis code
library, but default minimum and maximum duration percentages have been entered on the Risk
Settings tab of the Risk Analysis dialog, these are used; the task is assumed to have a probability of
100%.
6. If the task does not have minimum and maximum duration values and a task probability entered into
fields, the task, its bar or a parent task have not been assigned a code from a risk analysis code library
and default minimum and maximum duration percentages have not been entered on the Risk Settings
tab of the Risk Analysis dialog, the task is not affected by the risk analysis procedure.

This is illustrated by the following flowchart:

Once you have estimated the duration uncertainty and probability of tasks in a project, you specify the
method(s) you have used to do so on the Risk Settings tab of the Risk Analysis dialog.
Estimating the duration uncertainty and probability of individual
tasks
Estimating the duration uncertainty and probability of individual tasks gives you the most control, by
enabling you to specify precise minimum and maximum durations and a probability for each individual
task. If you normally think of risk in terms of minimum and maximum duration, this method of estimating
duration uncertainty will probably suit you.
However, estimating duration uncertainty and probability against individual tasks is more time-consuming
than the other methods. As you can use a combination of duration uncertainty and probability estimation
methods, you may want to estimate duration uncertainty and probability against certain key individual
tasks and use code libraries, or default percentages, to estimate duration uncertainty and probability
against less key tasks.
To estimate the duration uncertainty and probability of an individual task:

1. Right-click the task and select Properties. The Bar and Task Properties dialog appears.
2. Click the Task tab.
3. In the left pane of the dialog, click Risk Analysis.
4. Enter the shortest time that you estimate the task could take to complete in the Minimum
duration field.
5. Enter the longest time that you estimate the task could take to complete in the Maximum
duration field.
6. Enter a value between 0 and 100 in the Task probability field to specify, in percentage terms, the
likelihood of the task taking place.
7. Click Close.

You can also estimate the duration uncertainty and probability of individual tasks by displaying the Risk
analysis minimum duration, Risk analysis maxim duration and Task probability fields in the spreadsheet
and entering the information in these fields.
When estimating the duration uncertainty of tasks, you can enter minimum and maximum values in terms
of duration using any of the durations that are set up in the current project. For example, to enter a duration
of three hours, enter 3h; to enter a duration of six days, enter 6d. If you enter a duration into only one of
the fields, it is ignored when you perform a risk analysis.
You cannot estimate the duration uncertainty or probability of individual summary tasks or expanded
tasks.

Estimating the duration uncertainty and probability of tasks using

code libraries
Estimating the duration uncertainty and probability of tasks using code libraries, by assigning codes from
risk analysis code libraries to tasks, gives you slightly less control than estimating duration uncertainty and
probability against individual tasks, but enables you to estimate duration uncertainty and probability
against a selection of tasks in much less time. If you normally think of risk in terms of minimum and
maximum percentages, this method of recording risk will probably suit you.
As you can use a combination of duration uncertainty and probability estimation methods, you may want
to estimate duration uncertainty and probability against certain key individual tasks and use code libraries,
or default percentages, to estimate duration uncertainty and probability against less key tasks.
To estimate duration uncertainty and task probability using code libraries, you must first create a risk
analysis code library within Asta Powerproject, containing codes that define the minimum and maximum
duration values, and optionally the task probability, in terms of percentages. You can then assign the codes
to tasks to estimate the duration uncertainty and probability of the tasks. Alternatively, you can amend
existing code libraries that have already been assigned to tasks.
Creating risk analysis codes
You can call the code library that you create for use in risk analysis anything you like, but the names of the
codes within the library must follow a precise syntax, as the values are extracted from the names of the
codes.
Note the following points about the code names:

 Each code name must contain two valid percentages, the first representing the minimum duration
value and the second representing the maximum duration value.
 The first percentage must be lower than the second.
 Each code name can optionally contain a third percentage, representing the task probability.
 If the code names do not include a third percentage, the task probability is assumed to be 100%.
 The code names can include other characters.
 When thinking in terms of minimum duration and maximum duration percentages, 100% corresponds
to the current duration of each task.

Some examples of valid risk analysis code names are displayed below:

Code name Description

90% 110%  Minimum duration = 90%.

 Maximum duration = 110%.
 Task probability assumed to be 100%.

Min risk 60% max risk 140%  Minimum duration = 60%.

 Maximum duration = 140%.
 Task probability assumed to be 100%.

80% 120% 50%  Minimum duration = 80%.

 Maximum duration = 120%.
 Task probability = 50%.

Low 85% High 115% Occurs 75%  Minimum duration = 85%.

 Maximum duration = 115%.
 Task probability = 75%.

If you want to, you can create more than one risk analysis code library. When you carry out risk analysis,
you can select the code library that you want to use to determine risk.
Alternatively, you can amend existing code libraries that have already been assigned to tasks by editing
their names and adding risk percentages to them. For example, if you have a code library of names
showing who is responsible for a task, you could add percentages to each name depending on how reliable
you think that person is (you could rename a code called Harriet Wheeler to Harriet Wheeler 90% 110%).
This enables you to get up to speed with Risk Analysis very quickly.
To create a risk analysis code library and codes:

1. On the View tab, in the Show group, click Library Explorer.

2. Select Code Library from the tree view. A list of code libraries appears in the list view.
3. Right-click a blank area of the list view and select New Code Library. A new code library appears in the
list view, with the cursor flashing in the Name column.
4. Enter a suitable name for the code library, for example Risk Analysis, then click a blank area of the list
view to finish editing.
5. Right-click the new code library folder in the list view and select New Code Library Entry. The folder
opens and a new code is created within it, with the cursor flashing in the Name column.
6. Enter a name for the code library entry, following the syntax specified above, then click a blank area
of the list view to finish editing.
7. Specify an appearance for the code.
8. Create more codes within the code library to represent the full spread of uncertainty. For example, you
could create three codes, called Low Risk, Medium Risk and High Risk, each with appropriate
percentages.

You can now assign the codes to tasks.

Assigning risk analysis codes to tasks
Once you have created risk analysis codes, you can assign them to tasks within the current project. You
can assign codes to single tasks, or to more than one task at the same time by selecting multiple tasks.
If you assign a code to a summary task or expanded task, the duration uncertainty percentages apply to
all tasks within the summary group or sub chart that do not have risk values associated with them at the
task level. This saves you time in assigning codes.
To assign risk analysis codes to tasks:

1. Select the task(s) to which you want to assign a risk analysis code.
2. Locate and open the risk analysis code library in the project view.
3. Click and drag the appropriate risk analysis code from the project view to one of the selected tasks
and release the mouse button when the mouse pointer is located over one of the selected tasks.

Estimating duration uncertainty using default percentages

Estimating duration uncertainty using default percentages, by entering percentages within the Risk
Settings tab of the Risk Analysis dialog, enables you to carry out a crude risk analysis in very little time,
without having to estimate duration uncertainty against specific tasks or assign risk analysis codes to
tasks.
If you enter default percentages and use them within risk analysis, the percentages are applied to all tasks
against which duration uncertainty has not been recorded with user fields or code libraries.
To estimate duration uncertainty using default percentages:

1. Select the Use default risk percentages check box on the Risk Settings tab of the Risk Analysis dialog.
2. Enter minimum and maximum values in terms of percentages in the Minimum duration and Maximum
duration fields.
Specifying how you have estimated the duration uncertainty and
probability of tasks
You use the Task Risk tab of the Risk Analysis dialog to specify the way in which you have estimated the
duration uncertainty and probability of tasks within a project.
The duration uncertainty of tasks provides Risk Analysis with the minimum and maximum duration range
between which a random duration should be selected for each task for each iteration. For example, if a
task has a duration of 10 days, but you feel that the task could take between 8 and 12 days to complete,
depending on circumstances, you could specify a minimum value of 8 days and a maximum value of 12
days in terms of duration, or a minimum value of 80% and a maximum value of 120% in terms of
percentages.
The probability of tasks provides Risk Analysis with the likelihood, in percentage terms, of a task taking
place. Specifying a task probability other than 100 makes a task a "risk event" - ie a task that has a
probability of occurring and that will not definitely occur. For example, you may want to create a "risk event"
task to represent a possible delay in the delivery of certain items. If you specify task probabilities, the
probability of risk event tasks is taken into account in each iteration of risk analysis, meaning that the risk
event tasks will be included in some iterations but not in others. If you specify that a task has an 80%
probability of taking place, the task will appear in - and therefore affect the duration of - roughly 80% of
risk analysis iterations.
Estimating the duration uncertainty of tasks is a necessary part of risk analysis, but you can choose
whether or not to estimate the probability of tasks - and you can estimate the probability of as many, or as
few, tasks as you wish. If you do not estimate the probability of a task, it is assumed to be 100% likely to
occur.
You can estimate the duration uncertainty and probability of tasks in the following ways:

 On individual tasks, by entering precise minimum and maximum durations and a probability
percentage into fields for each individual task.
 Using code libraries, by creating codes that define the minimum and maximum duration values, and
the task probability, all in terms of percentages. You can then assign the codes to tasks.
 For duration uncertainty only, using default percentages, by entering minimum and maximum values
in terms of percentages in the Risk Analysis dialog. It is not possible to use a default percentage to
estimate the probability of tasks.

You can use whichever method suits you, or you can use any combination of the methods. For example,
you can estimate duration uncertainty by entering minimum and maximum values in terms of duration on
a number of individual tasks, then apply default percentages to the rest of the tasks in the project.
Explanation of the fields and buttons on the dialog

Field/Button Description

Use task Select this check box if you have estimated the duration uncertainty and
min/max probability of individual tasks by editing the properties of tasks and entering
durations and values into the Minimum duration, Maximum duration and Task
probabilities probability fields, and you want to use these to define the range between
which random durations should be selected during risk analysis, and the
probability of tasks taking place.

Use risk analysis Select this check box if you have estimated the duration uncertainty and
code library probability of tasks by assigning codes from risk analysis code libraries to
tasks, and you want to use these to define the range between which random
durations should be selected during risk analysis, and the probability of
tasks taking place. Select the risk analysis code library to use in the field to
the right of the check box.

Owning bar If you have estimated the duration uncertainty and probability of individual
tasks, select this check box to specify that Risk Analysis should check bars
for assignments of the risk analysis code library in cases where tasks
themselves do not have a duration uncertainty and probability setting
defined.

Owning summary If you have estimated the duration uncertainty and probability of individual
and expanded tasks, select this check box to specify that Risk Analysis should check
tasks parent summary or expanded tasks for assignments of the risk analysis
code library in cases where tasks themselves do not have a duration
uncertainty and probability setting defined.

Use default risk Select this check box if you want to perform risk analysis using a default set
percentages of duration uncertainty percentages, which will be applied to all tasks in the
project. If you select this check box, enter the minimum and maximum
duration uncertainty settings in the fields below.

Minimum If you specify that you want to perform risk analysis using a default set of
duration duration uncertainty percentages, enter the percentage that defines the
lower end of the range between which random durations should be
selected. For example, enter 75 to specify that the shortest possible
duration should be three-quarters that of the current duration of a task.

Maximum If you specify that you want to perform risk analysis using a default set of
duration duration uncertainty percentages, enter the percentage that defines the
upper end of the range between which random durations should be
selected. For example, enter 125 to specify that the longest possible
duration should be one-and-a-quarter that of the current duration of a task.
 Field/Button Description

Generate Click this button to carry out risk analysis on the project using the settings
that you have configured on this dialog.

Depending on the size of your project and the selected scope, carrying out
risk analysis can take a considerable amount of time.

Cancel Click this button to close the dialog without saving any of the changes that
you have made.

Apply Click this button to save the settings that you have entered into the dialog,
without carrying out risk analysis or closing the dialog.

Applying specific distributions to individual tasks

You specify the distribution that you want to use each time you carry out risk analysis, on the Risk
Settings tab of the Risk Analysis dialog. You can also specify that particular distributions should be used
with individual tasks. If you apply a specific distribution to a task, this distribution is always used for that
particular task when the duration of tasks is determined during risk analysis, regardless of the distribution
that you select on the Risk Settings tab of the Risk Analysis dialog.
Applying distributions to individual tasks gives you a great deal of control and precision over the way in
which risk analysis is carried out. However, applying distributions to individual tasks can be time-
consuming. You may want to apply distributions to certain key individual tasks and use the distribution
that you select on the Risk Settings tab of the Risk Analysis dialog for less key tasks.
To apply a distribution to an individual task:

1. Right-click the task to which you want to apply a distribution and select Properties. The Bar and Task
Properties dialog appears.
2. Click the Task tab.
3. In the left pane of the dialog, click Risk Analysis.
4. Select the distribution that you want to apply to the task in the Task distribution field.
5. To specify that the distribution that you select on the Risk Settings tab of the Risk Analysis dialog
should be used for the task during risk analysis, select Default in this field.
6. Click Close.

You can also apply distributions to individual tasks by displaying the Task distribution field in the
spreadsheet and selecting the distributions that you want to apply to tasks in this field.
Checking the schedule prior to carrying out risk analysis
You may want to check for any scheduling problems that ought to be addressed before risk analysis is
carried out. You can do this by rescheduling the project before accessing the Risk Analysis dialog, or from
within the Risk Analysis dialog itself. The reschedule report that is produced highlights issues that you
might like to address before carrying out risk analysis.
Rescheduling the project from within the Risk Analysis dialog has the following advantages over
rescheduling the project before accessing the dialog:

 Only that portion of the programme of projects that matches the scope you have selected on the Risk
Analysis dialog is rescheduled, meaning that only project data relevant to the risk analysis you are
about to carry out is checked for problems.
 Once the reschedule has been carried out, it is immediately undone, with the project reverting back
to the state it was in before.
 A reschedule report that highlights problems is always produced, even if you do not usually view
reschedule reports.

To check the schedule prior to carrying out risk analysis, click the Schedule Check button on the Risk
Settings tab of the Risk Analysis dialog.
When you click this button, either the entire programme of projects, the current branch, or the tasks in the
current view are rescheduled - according to which Scope radio button you have selected on this dialog -
and a reschedule report is displayed in your web browser. The reschedule report will highlight issues that
you may like to address before carrying out risk analysis.
Once the reschedule is complete, it is immediately undone and the project reverts back to the state it was
in before you clicked this button.
Depending on the size of your project and the selected scope, carrying out a pre-risk analysis schedule
check can take a considerable amount of time.

Carrying out risk analysis

To access the Risk Analysis dialog, on the Project tab, in the Data group, click Risk Analysis.
You use the Risk Settings tab of the Risk Analysis dialog to configure the way in which risk analysis is
carried out on a project, and then to carry out risk analysis.

Flowchart showing steps involved in carrying out risk analysis

The following flowchart shows the steps that are involved in carrying out risk analysis. Each step is
explained in more detail in the sections that follow.
Explanation of the fields and buttons on the dialog

Field/Button Description

All Click this radio button to specify that you want to carry out risk analysis on the
entire programme of projects.

Branch Click this radio button to specify that you want to carry out risk analysis on the
currently selected branch of the project only.

View Click this radio button to specify that you want to carry out risk analysis on the
tasks in the current view only.

Uniform Click this radio button to specify that you want to apply a uniform - or linear -
distribution to the way in which the duration of tasks is selected during risk
analysis.

Using this distribution, a random value between the minimum and maximum
duration range specified is selected for each task for each iteration; the current
duration of the task is ignored. If you plotted a graph of hundreds of such
random values, the graph would approximate a straight line.

The uniform distribution will provide the most useful results in cases when you
know that the duration of tasks will fall somewhere between two values, but
you have no feel for the probable duration. This may be the case if someone
else has planned a schedule.

If you have applied a specific distribution to one or more individual tasks in the
project, the distributions that you have specified against tasks will override the
distribution that you choose on this dialog, for those tasks only.

Normal Click this radio button to specify that you want to apply a normal distribution to
the way in which the duration of tasks is selected during risk analysis.

Using this distribution, a random value within the minimum and maximum
duration range specified is selected for each task for each iteration; the values
selected tend towards the middle of the duration range. If you plotted a graph
of hundreds of such random values, the graph would approximate a normal
curve.
Field/Button Description

The normal distribution will provide the most useful results in cases when you
know that the duration of tasks will fall somewhere between two values, and is
most likely to fall midway between them.

If you have applied a specific distribution to one or more individual tasks in the
project, the distributions that you have specified against tasks will override the
distribution that you choose on this dialog, for those tasks only.

Skewed normal Click this radio button to specify that you want to apply a skewed normal
distribution to the way in which the duration of tasks is selected during risk
analysis.

Using this distribution, a random value between the minimum and maximum
duration range specified is selected for each task for each iteration; the values
selected tend towards the current duration of the task within the project. If you
plotted a graph of hundreds of such random values, the graph would
approximate a normal curve, but with a peak around the current duration.

The skewed normal distribution will provide the most useful results in cases
when you know that the duration of tasks will fall somewhere between two
values, and is most likely to fall on the current duration, in other words when
you are fairly confident that the current duration of tasks in the schedule is
accurate.

If you have applied a specific distribution to one or more individual tasks in the
project, the distributions that you have specified against tasks will override the
distribution that you choose on this dialog, for those tasks only.

Skewed Click this radio button to specify that you want to apply a skewed triangular
triangular distribution to the way in which the duration of tasks is selected during risk
analysis.

This distribution produces similar results to the skewed normal distribution. As

with the skewed normal distribution, a random value between the minimum
and maximum duration range specified is selected for each task for each
iteration; the values selected tend towards the current duration of the task
within the project. If you plotted a graph of hundreds of such random values,
the graph would approximate a triangle, with its apex around the current
duration.

As with the skewed normal distribution, the skewed triangular distribution will
provide the most useful results when you are fairly confident that the current
duration of tasks in the schedule is accurate.
Field/Button Description

If you have applied a specific distribution to one or more individual tasks in the
project, the distributions that you have specified against tasks will override the
distribution that you choose on this dialog, for those tasks only.

Monte Carlo Click this radio button to specify that you want to apply the Monte Carlo
sampling method when carrying out risk analysis.

Click here for more information.

Latin Click this radio button to specify that you want to apply the Latin hypercube
Hypercube sampling method when carrying out risk analysis.

This sampling method may give better results if you choose to perform fewer
iterations, as it ensures that the iterations that are performed select task
durations from across the entire duration range, avoiding the clustering effect
that can occur when the Monte Carlo method is used with a relatively small
number of iterations.

Interruptible Select this check box if you want to include interruptible tasks in the risk
tasks analysis calculations, or clear the check box to exclude them, meaning that their
durations will not change as a result of risk analysis.

As the duration of interruptible tasks can change each time a project is

rescheduled, depending on the progress of the tasks to which they are linked,
it is advisable to exclude interruptible tasks from risk analysis calculations in
most cases.

Buffer tasks Select this check box if you want to include buffer tasks in the risk analysis
calculations, or clear the check box to exclude them, meaning that their
durations will not change as a result of risk analysis.

As the duration of buffer tasks can change each time a project is rescheduled,
depending on the progress of the tasks to which they are linked, it is advisable
to exclude buffer tasks from risk analysis calculations in most cases.

Number of Enter the number of iterations - cycles of selecting a duration for each task and
iterations performing critical path analysis - that you want to be performed during risk
analysis. The more iterations you specify, the longer the risk analysis will take,
but the more accurate will be the results.

Snapping Specify whether you want the durations of tasks to snap to a particular time
unit when random durations are selected for each task during risk analysis. You
may want to do this in order to prevent tasks ending up with what you might
consider to be unrealistic durations, such as 3d 1h 7m 23s.
Field/Button Description

 Select No snapping to allow tasks to be given any duration during risk

analysis, without snapping to a particular time unit.

 Select Snap to task unit to force task durations to snap to each task's
current duration time unit, ie the time unit that was applied to the task
when its duration was last edited. For example, if a task was last given
a duration of 3w, its current duration time unit would be weeks; if a
task was last given a duration of 2d, its current duration time unit
would be days.

 Select Snap to given unit to force task durations to snap to a specific

time unit, that you select in the field to the right.

Note that choosing to snap to each task's current duration time unit might
provide undesirable results, especially if task durations have been defined
using large time units such as weeks or months.

Time unit for Select the time unit in which to display values in the Finish date
finish date variance column on the Results tab once risk analysis is complete. This column
variance displays the variance between the current project finish date and the project
finish date within each iteration.

Schedule Check Click this button to reschedule the project prior to carrying out risk analysis, in
order to check for any scheduling problems that ought to be addressed before
risk analysis is carried out.

When you click this button, either the entire programme of projects, the current
branch, or the tasks in the current view are rescheduled - according to
which Scope radio button you have selected on this dialog - and a reschedule
report is displayed in your web browser. The reschedule report will highlight
issues that you may like to address before carrying out risk analysis.

Once the reschedule is complete, it is immediately undone and the project

reverts back to the state it was in before you clicked this button.

Depending on the size of your project and the selected scope, carrying out a
pre-risk analysis schedule check can take a considerable amount of time.

Generate Click this button to carry out risk analysis on the project using the settings that
you have configured on this dialog.

Depending on the size of your project and the selected scope, carrying out risk
analysis can take a considerable amount of time.
Field/Button Description

Cancel Click this button to close the dialog without saving any of the changes that you
have made.

Apply Click this button to save the settings that you have entered into the dialog,
without carrying out risk analysis or closing the dialog.