Assessing of Project Risk Management With (RiskyProject Professional 7 ‐ Project Risk Management Software)

Any project faces opportunities and risks during its lifetime (from the beginning to the end of its life and reaching its goals). Risks are the factors that can create disorder in the implementation of the project and cause it to fail. To avoid these risks, risk management is essential. Risk management steps are referred to as the process of identifying, analyzing, and responding to risk factors that may occur in the lifetime of a project. If risk management is done correctly, it can prevent potential hazards by controlling future events. This issue becomes more significant when faced with a large, long-term project. It is not possible to identify, calculate, analyze, and control risks in a traditional way, and it is better to facilitate and speed up the project risk management using existing advanced tools. Risk management is inevitable. Even in non-organized projects, risk management is done in an unsystematic, intuitive way. What's essential is to systematize risk management with the most favorable outcomes of implementing risk management. The classic project management method is not able to deal with complex projects. In this regard, we are considering introducing and reviewing software designed for this purpose. INTAVER INSTITUE designed a software for doing the process of management of risks which is name is RiskyProject. The RiskyProject is a complete portfolio of project risk analysis and project risk management software for use independent or integrates with Microsoft Project, Primavera, and other planning tools. RiskyProject includes quantitative and qualitative analysis by the Monte Carlo method. Risk analysis helps determine how uncertainty in project work and resources affects the scope, results, cost, duration, and other parameters of the project. Project risk analysis also assesses the tasks and resources of the project based on its own risk, calculates the entire project at risk, and determines the effectiveness of risk mitigation and response measures. Cost and planning risk analysis can be integrated and implemented using a high-performance Monte Carlo simulation engine.