New @RISK for Project Features Crystal Clear Results, Sophisticated Models
1 May 2004, Ithaca, NY - Project managers deal with uncertainty every day: shifting start dates, unknown task durations, and hidden costs. With Palisade Corporation’s release of @RISK 4.1 for Project, project managers can account for uncertainty and gain a clear picture of the risks and opportunities embedded in their projects. @RISK for Project integrates seamlessly into Microsoft Project and allows project managers to quickly assess uncertainty in any aspect of their projects. @RISK for Project offers the world’s most powerful simulation engine, an intuitive interface within Microsoft Project, and fast scenario and sensitivity analysis.
New version 4.1 for @RISK for Project features graphical displays that combine Microsoft Project’s Gantt charts with @RISK analysis results, so project managers can quickly see which tasks are most important – in any scenario! The new features in version 4.1 are the ones most requested by project managers.
@RISK 4.1 for Project Works
@RISK 4.1 for Project uses Monte Carlo simulation to account for uncertainty. The software lets a single project file represent thousands of “what-if” scenarios. Uncertain numeric values in fields are replaced with @RISK probability distribution functions that 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 that they will occur. Any field or fields can be used as output, and results can be reported in either Microsoft Project or Microsoft Excel.
New! Risk Results in Gantt Charts
In version 4.1, risk simulation results are integrated with Microsoft Project’s native Gantt charts. The Risk Gantt Chart shows, by task, the earliest, expected, and latest start and finish dates, along with critical indices and sensitivity analysis results. These new graphics make it a snap to interpret results.
New! Critical and Cruciality Indices
@RISK 4.1 for Project allows project managers to size up critical tasks more accurately. When @RISK simulations are added to a project, the values sampled in the simulation determine how frequently a task falls on a critical path. The percentage result is an index, and the new software automatically records the critical index for each task in the project.
The @RISK 4.1 for Project cruciality index factors in both critical indices and sensitivity analysis.
Standard and Professional Editions
@RISK 4.1 for Project comes in Standard and Professional Editions. The Professional Edition adds a number of powerful functions to the capabilities of the Standard Edition. These include BestFit, Palisade’s popular distribution-fitting software and If/Then conditional modeling. With If/Then modeling, if a condition is true, values may change or a new branch may be taken in the project process. The Professional edition now allows Project fields to take an @RISK distribution function as a result if certain conditions are met.
In addition, the Professional edition features probabilistic branching, which allows a project to move from one task to another during a simulation; probabilistic calendars to model weather and other potential sources of work stoppage; global variables; field and macro references; and parameter entry tables.
Free Demo, Further Details
For a free demo CD and more detailed information on @RISK for Project 4.1, click here.
IBM PC Pentium or higher; Windows 98 or higher; Project 2000 or higher; 64MB RAM or more (128MB recommended).