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Risk Analysis of Linear Project

Risk Analysis of Linear Project. Intaver Institute Inc. 400, 7015 Macleod Trail S.W, Calgary, AB, Canada Tel: +1(403)692-2252 www.intaver.com Linear Project Software http://www.turbo-chart.com. What Are the Linear Projects?.

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Risk Analysis of Linear Project

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  1. Risk Analysis of Linear Project Intaver Institute Inc. 400, 7015 Macleod Trail S.W, Calgary, AB, Canada Tel: +1(403)692-2252 www.intaver.com Linear Project Software http://www.turbo-chart.com

  2. What Are the Linear Projects? • In linear projects activities are associated with certain locations. They are usually construction projects, such as building and roads where each activities have location attributes in addition to duration, start and finish times, cost, resources and other attributes of traditional project schedules. • Time location charts are a way of visualising project schedules with linear locations on the horizontal axis, and dates on the vertical axis. Schedule activities are then plotted onto the chart according to the locations over which they occur and the dates that the project schedule determines.

  3. Risk Adjusted Location Charts • Time location charts could be presented for original project schedule and risks-adjusted project schedule. • Risk adjusted project schedule is a result of project risk analysis • Comparing risk adjusted project schedule and original project schedule helps to determine how risks would affect your project. Project Risk Analysis is performed by RiskyProject software (www.intaver.com). Time location charts are presented by Turbo Chart software (www.turbo-chart.com).

  4. How to Perform Risk Analysis of Linear Projects • 4-Step Process: • Configure the Statistics Report in RiskyProject to contain specified columns • Run a simulation. • Export the Results to Excel • Import the Excel file to Turbo Chart • Exporting Monte Carlo simulation results for linear projects from RiskyProject to Turbo Chart

  5. Step 1: Configure the Statistics Report Set up a view the contains simulation results columns. The example uses the Simulation Results view in RiskyProject to generate data for results associated with any percentile (e.g. P80). The following are required fields:

  6. Step 2: Run Monte Carlo Simulations • Run Monte Carlo simulations to populate the report with results (Start Date, Finish Date) Columns are remained in RiskyProject

  7. Step 3: Export Results to Excel Export view to Excel with Headers Add location values for Start and End fields, if they are not added in RiskyProject. (Optional) Add Shape Codes. These codes define how data is displayed in Turbo Chart. Codes can be added in Turbo Chart using templates. Copy data to clipboard

  8. Step 4: Import the Excel data to Turbo Chart Open TurboChart From the Data menu, click Tasks

  9. Step 4: Import the Excel data to Turbo Chart 3. Click Paste from Clipboard After validation, data is added to the Data Set. To add shape codes: Import the Shape library, click Data > Shape Library > Load. Apply shapes to Tasks

  10. Final Time Location Chart Here is an example of a finished visualization of a original vs risk adjusted (P80) linear project:

  11. Comparison Two Sets of Data in Turbo Chart Using Turbo Chart you can compare two different set of data, for example deterministic project schedule and risk adjusted P80 project schedule • In Turbo Chart Select CHART>CHART OPTIONS>DATASETS TAB • Select the main and 2nd Dataset to be displayed • Adjust the display options for the 2nd Dataset to change opacity, or to slightly transpose the position values to see one set of data next to the other. Being able to compare deterministic vs. Risk Adjusted dates could be very useful way of understanding the behaviour of the linear schedule and to identify where the majority of the risk delays occur.

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