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Have you ever worked on a multimillion-dollar project where the project plan was little more than a collection of guesses? Or managed a project where the number of risks made the project unmanageable? Every year numerous projects finish late or over budget, or get cancelled outright because the project manager had no tools to assess and manage risk. @RISK for Project helps project managers realize the effects of uncertainty, communicate realistic project forecasts and allocate resources effectively. |
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@RISK for Project Shows You Many Possible Outcomes
@RISK for Project uses Monte Carlo simulation to show you many possible outcomes in your project – and tells you how likely they are to occur. This means that you finally have, if not perfect information, the most complete picture possible. You can determine which tasks are most important and then manage those risks appropriately. While no software package can predict the future, @RISK for Project can help you choose the best strategy based on the available information. That’s not a bad guarantee!
The power of Monte Carlo simulation lies in the picture of possible outcomes it creates. Simply by running a simulation, @RISK for Project takes your project model from representing just one possible outcome to representing thousands. With @RISK for Project, you can answer questions like, “What is the probability of completing this milestone on time and under budget?” or “What are the chances that this project phase will be completed by this day?”
Define Uncertainty with Ease
Replace uncertain values in your spreadsheet with @RISK probability distribution functions. You’ve probably heard of some of these, such as normal (“bell curve”), uniform, and triangular distributions. Choosing which @RISK distribution function to use is easy. @RISK for Project comes with a distribution viewer that lets you preview various distributions before selecting them. You can also use your own historical data and @RISK for Project’s integrated data fitting tool to select the best function and the right parameters.
Present Results with Stunning Graphs
@RISK for Project provides a wide range of graphs for interpreting and presenting your results to others. The @RISK Gantt Chart lets you see simulation results directly in Project’s native Gantt Chart. Histograms and cumulative curves show the probability of different outcomes occurring. Use overlay and summary graphs for more advanced comparisons. Right-click menus and handy toolbars make navigation a snap. You can also generate a one-page, ready-to-print Quick Report of statistical results and graphs!
Identify the Most Important Tasks
@RISK for Project provides you with Sensitivity and Scenario Analyses to determine the critical factors in your models. Use Sensitivity Analysis to rank the uncertain factors in your model according to the impact they have on your outputs. See the results clearly with an easy-to-interpret Tornado diagram, then take appropriate management action.
Conditional Modeling and Contingency Planning
The Professional version of @RISK for Project includes a set of branching features that enable you to build in contingency plans if certain events occur. Account for chance events in your model with ease. |
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All-New DecisionTools® Suite 5.5
The DecisionTools Suite is an integrated set of programs for risk analysis and decision making under uncertainty that run in Microsoft Excel. The new DecisionTools Suite 5.5 includes @RISK 5.5 as well as PrecisionTree and TopRank. In addition, the Suite has been expanded to add StatTools, NeuralTools, and Evolver for prediction, data analysis and optimization. All programs have been rewritten to work together better than ever before.
New @RISK 5.5 for Excel runs simulations 2 to 20 times faster than before! It also includes new scatter plots from scenario analysis, a freehand distribution artist, and an Excel-style Insert Function dialog with graphs. @RISK 5.5 brings a wide range of new features to improve your analysis, save time, and encourage systematic adoption of risk analysis across your organization.
@RISK 5.5 and RISKOptimizer 5.5 are fully translated into Spanish, German, French, Portuguese and Japanese. The DecisionTools Suite 5.5 is available with @RISK and RISKOptimizer in any language.
» What's New in @RISK 5.5
Click on a tab below to learn more about each product in the Suite. |
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@RISK 5.5 for risk analysis using Monte Carlo simulation @RISK performs risk analysis using Monte Carlo simulation to show you many possible outcomes in your Microsoft Excel spreadsheet—and tells you how likely they are to occur. This means you can judge which risks to take and which ones to avoid.
Greater Than the Sum of its Parts
Each component of the DecisionTools Suite can perform a powerful analysis. When you combine these products, you can achieve more complete results than any single program can provide. |
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@RISK and TopRank
The focus of an @RISK analysis can be narrowed using TopRank. Especially with large models, this saves time and improves accuracy of your @RISK analysis. @RISK functions can also be used by TopRank to represent a wider range of values than TopRank’s standard functions. |
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@RISK and PrecisionTree
In addition, @RISK can be combined with PrecisionTree to represent uncertain chance events and payoffs in decision tree models. This enhances the accuracy of decision tree models by considering wider ranges of values for chance events instead of a few limited, discrete options. |
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@RISK then StatTools
@RISK results can be run through a StatTools analysis to assess confidence intervals. @RISK can also be applied to results from a StatTools time-series forecast to simulate possible outcomes with more precision.
DecisionTools Suite Industries & Applications
The DecisionTools Suite is used to analyze risk and uncertainty in a wide variety of industries. From the financial to the scientific, anyone who faces uncertainty in their quantitative analyses can benefit from The DecisionTools Suite. |
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(HSE) Health Safety and Environment |
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Administrative & Office Management |
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Architecture, Civil & Build Environment |
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Building Maintenance & Facilities Management |
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Chemical Engineering |
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Construction Engineering Management |
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Contract Planning, Administration & Claims Management |
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Cost Estimating, Budget & Cost Control |
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Customer Service & Customer Relationship (CRM) |
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Electrical Engineering |
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Finance, Accounting & Banking |
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Human Resource Management (HRM) |
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Industrial Engineering, Maintenance & Operations Management |
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Information Technology (IT) |
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International Programs 2010 |
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Management, Team Building, Leadership & Personnel Development |
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Marketing, Sales & Public Relations |
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Materials, Logistics, Purchasing, and Supply Chain Management |
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Mechanical Engineering |
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Oil, Gas & Petroleum Engineering |
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PLC, Process Control, Instrumentation & Measurement |
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Project Management |
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Property Management |
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Quality Assurance & Quality Control |
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