Working with risk analysis results
You use the Results tab of the Risk Analysis dialog to review the results of the last risk analysis you have carried out. The tab displays a grid, with each row of the grid representing an individual iteration. The iterations are displayed in order of finish date, with the earliest-finishing iterations displayed at the top of the grid. Click an iteration in the grid to select it.
You can use the controls on this dialog to apply an iteration, either to the live data or in a baseline, to copy iterations to the Clipboard or to Microsoft Excel®, and to produce a number of reports.
Explanation of the fields and buttons on the dialog
The grid displays the following information about each iteration:
| Field | Description |
|---|---|
| Rank | An indication of the risk of the iteration. Iterations are displayed in the grid in order of risk, with the 'riskiest' iterations - those with the earliest finish date - at the top of the list and the least risky - those with the latest finish date - at the bottom. Iterations with the most realistic finish dates are likely to be listed somewhere between the top and bottom of the list; your idea of what constitutes 'realistic' depending to some extend on your attitude to risk. |
| Probability |
A measure, in percentage terms, of how likely it is that the finish date of the iteration is accurate.
Note that the cost, income and margin of iterations are not taken into consideration in the calculation of probability; the probability of iterations is calculated in terms of their finish date only. |
| Finish date | The date on which the project would finish were the iteration to be applied to the live data. |
| Finish date variance | The difference between the finish date in the live data and the finish date according to the iteration. |
| Cost | The amount of money that the project would cost were the iteration to be applied to the live data. |
| Cost variance | The difference between the project cost in the live data and the project cost according to the iteration. |
| Income | The amount of money that the project would achieve were the iteration to be applied to the live data. |
| Income variance | The difference between the project income in the live data and the project income according to the iteration. |
| Iteration | The number of the iteration; iteration number 1 is the first to have been produced during risk analysis, iteration number 2 is the second to have been produced, and so on. |
The following controls and buttons are displayed underneath the grid:
| Control/Button | Description |
|---|---|
| Create from iteration |
|
| Copy/Export |
|
| Reports |
|
| 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. |
How do I...
... apply an iteration to the live data?
- Select the iteration that you want to apply to the live data in the grid.
- Click the Create from iteration control and select Schedule.
The live data is updated with information from the selected iteration - in effect, the selected iteration now becomes the live project.
Note that applying an iteration to the live schedule divorces the risk analysis results from the live data: the results displayed in the Risk Analysis dialog are based on the schedule as it was prior to the application of the iteration, not as it is now. Note also that if you were to carry out a further risk analysis operation on the live data having applied an iteration, the starting point for the second risk analysis operation would be the iteration that you applied from the results of the first risk analysis operation, rather than the original project.
... create a baseline based on an iteration?
- Select the iteration from which you want to create a baseline in the grid.
- Click the Create from iteration control and select Baseline.
The Baseline Wizard appears for you to enter details of the baseline file that you want to create.
... copy iteration information to the Clipboard, or to Microsoft Excel?
- To copy information from the grid on the dialog to the Clipboard - or to a Microsoft Excel format file, if Microsoft Excel is installed on your computer - click the Copy/Export control and select Copy grid to clipboard or Copy grid to Excel.
- To copy information about a specific iteration to the Clipboard or to a Microsoft Excel format file, select the iteration you want to copy then click the Copy/Export control and select Copy iteration to clipboard or Copy iteration to Excel.
... display risk analysis reports?
- To display a range of sensitivity reports, click the Reports control and select Sensitivity.
- To display a range of likelihood and distribution reports, click the Reports control and select Likelihood and Distribution.
Creating a baseline from an iteration
Applying an iteration to the live schedule