Comparison of project risk analysis software
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The following is a comparison of the features of various project risk analysis software available. Project planning software is reviewed separately.
General information[edit]
| Software name | Company name | Works with Microsoft Project | Works with Primavera P6 | Application | Software license | License options | Price indicator[1] |
|---|---|---|---|---|---|---|---|
| @RISK Pro[2] | Palisade Corporation | Yes | No | Add-in | Proprietary | Single user, network license | Medium |
| Acumen Risk[3] | Deltek, Inc | Yes | Yes | Stand-alone | Proprietary | Single user | High |
| Full Monte[4] | Barbecana, Inc | Yes | Yes | Add-in, Stand-alone | Proprietary | Single user | Medium |
| Primavera Risk Analysis[5] | Oracle, Inc | No | Yes | Stand-alone | Proprietary | Single user | High |
| RiskyProject Professional[6] | Intaver Institute | Yes | Yes | Stand-alone, add-in | Proprietary | Single user, network license | Low |
| RiskyProject Lite[7] | Intaver Institute | Yes | Yes | Stand-alone, add-in | Proprietary | Single user, network license | Low |
| RiskyProject Enterprise[8] | Intaver Institute | Yes | Yes | Stand-alone, add-in | Proprietary | network license | High |
| Safran Risk[9] | Safran Software Solutions AS | Yes | Yes | Stand-alone | Proprietary | Single user | High |
| Tamara Basic[10] | Vose Software bvba | Yes | Yes | Stand-alone | Proprietary | Single user, network license | Free |
| Tamara Complete[10] | Vose Software bvba | Yes | Yes | Stand-alone | Proprietary | Single user, network license | Low |
Technical specification[edit]
| Software name | Cost/schedule[11] | Schedule checker[12] | Risk register[13] | Calendar/weather risks[14] | Probabilistic branching[15] | Correlation method[16] | Mitigation/response planning[17] | Non-schedule risks[18] |
|---|---|---|---|---|---|---|---|---|
| @RISK Professional | Both | No | No | No | Yes | Copula | No | Yes |
| Acumen Risk | Both | Requires separate Acumen Fuse | Yes | Yes | Yes | None | Yes | Yes |
| Full Monte | Both | Requires separate Schedule Inspector | No | P6 Only | Yes | Factors | No | No |
| Primavera Risk Analysis | Both | Yes | Yes | Yes | Yes | Copula | No | No |
| RiskyProject Professional | Both | Yes | Yes | Yes | Yes | Copula | Yes | Yes |
| RiskyProject Lite | Both | Yes | Yes | Yes | Yes | Copula | No | Yes |
| RiskyProject Enterprise | Both | Yes | Yes | Yes | Yes | Copula | Yes | Yes |
| Safran Risk | Both | Yes | Yes | Yes | Yes | Copula | No | No |
| Tamara Basic | Schedule only | Yes | No | No | No | Factors | No | No |
| Tamara Complete | Both | Yes | Yes | Yes | Yes | Factors | No | No |
Results analysis and reporting[edit]
| Software name | Plot types[19] | Sensitivity analysis[20] | Stochastic Gantt[21] | Scenarios[22] | Cashflow[23] | Spreadsheet simulation[24] | Custom report templates[25] | Export file types |
|---|---|---|---|---|---|---|---|---|
| @RISK Professional | H, C, X | Yes | Yes | Yes | Yes | Yes | Yes | xlsx |
| Acumen Risk | H, C, X | Yes | Yes | Yes | No | No | Yes | docx, image (bmp, jpeg, etc), pdf, xlsx |
| Full Monte | H, C | Yes | Yes | Yes | Yes | No | No | csv, clipboard |
| Primavera Risk Analysis | X | Yes | Yes | Yes | Yes | No | Yes | xls |
| RiskyProject Professional | H, C, X | Yes | Yes | Yes | Yes | No | Yes | image (bmp, jpeg, etc), pdf, xls, ppt |
| RiskyProject Lite | H, C, X | Yes | Yes | Yes | Yes | No | Yes | pdf, xls |
| RiskyProject Enterprise | H, C, X | Yes | Yes | Yes | Yes | No | Yes | image (bmp, jpeg, etc), pdf, xls, ppt |
| Safran Risk | H, C, X | Yes | Yes | Yes | Yes | No | No | |
| Tamara Basic | H, C, X | Yes | Yes | No | Yes | Yes | Yes | docx, html, image (bmp, jpeg, etc), mht, pdf, xlsx |
| Tamara Complete | H, C, X | Yes | Yes | No | Yes | Yes | Yes | docx, html, image (bmp, jpeg, etc), mht, pdf, xlsx |
Help file, support and training[edit]
| Software name | Help file in PDF | Help file online | Language versions | Online videos | Online training | Onsite training | Trial version duration |
|---|---|---|---|---|---|---|---|
| @RISK Professional | Yes | No | ZH, EN, FR, DE, JA, PT, ES | Yes | Yes | Yes | 15 days |
| Acumen Risk | No | Yes | EN | Yes | Yes | Yes | 15 days |
| Full Monte | Yes | No | EN | Yes | Yes | Yes | 30 days |
| Primavera Risk Analysis | No | No | EN | No | No | No | None |
| RiskyProject Professional | Yes | Yes | EN | Yes | Yes | Yes | 30 days |
| RiskyProject Lite | Yes | Yes | EN | Yes | Yes | Yes | 30 days |
| RiskyProject Enterprise | Yes | Yes | EN | Yes | Yes | Yes | Unlimited |
| Safran Risk | No | No | EN | No | No | Yes | 30 days |
| Tamara Basic | Yes | Yes | EN | Yes | Yes | Yes | Unlimited |
| Tamara Complete | Yes | Yes | EN | Yes | Yes | Yes | Unlimited[26] |
See also[edit]
Footnotes and references[edit]
- ↑ Price per user: Low < $1000: Medium >$1000, < $3000; High >$3000
- ↑ @RISK manual version 7.5, Palisade Corporation http://www.palisade.com
- ↑ Deltek, Inc http://www.deltek.com
- ↑ Barbecana, Inc http://www.barbecana.com
- ↑ Oracle, Inc https://www.oracle.com/applications/primavera/products/risk-analysis.html
- ↑ RiskyProject Professional User Guide, Intaver Institute http://www.intaver.com
- ↑ RiskyProject Professional Lite Guide, Intaver Institute http://www.intaver.com
- ↑ RiskyProject Professional Enterprise Guide, Intaver Institute http://www.intaver.com
- ↑ Safran Risk manual, Safran Software Solutions http://www.safran.com
- ↑ 10.0 10.1 Vose Software web site http://www.vosesoftware.com
- ↑ Whether the software performs an integrated cost and schedule risk analysis of the project plan.
- ↑ Whether the software performs a check of the schedule model’s suitability according to recognized standards like DCMA-EA PAM 200.1 EVMS Program Analysis Pamphlet (PAP). Hard constraints, leads, long or negative lags, and open-ended activities are all incompatible with schedule risk modelng.
- ↑ Whether the software includes a table featuring the risk events that could impact the project, their probability or frequency of occurrence, and the delay and/or cost to the schedule if they occur.
- ↑ Whether the software incorporates the ability to model risk occurrence as a function of the time of year instead of the tasks being performed.
- ↑ Whether the software incorporates the ability to model extra work that may have to be undertaken that is not in the baseline schedule.
- ↑ Correlation in the uncertain amount of time taken to complete different tasks in the schedule can dramatically increase the overall uncertainty in milestone dates and costs (see Hulett, Schuyler or Vose in further reading). There are two ways to model this: (1) using copulas, which require specifying the level of correlation between each pair of uncertain task durations. For k tasks, this means defining k(k-1)/2 correlation coefficients. For example, for a small schedule of 50 tasks, this comes to 1,225 coefficients, which is impractical to specify; or (2) using driving factors (for example, level of competence of a contractor) which are more intuitive and easier to implement since a typical project will have 5-20 such factors.
- ↑ Quantitative analysis of efficiency of risk mitigation and response efforts.
- ↑ Quantitative analysis of risks belonging to safety, security, quality, technology, legal, finance, environment, and other categories that don't affect project schedule directly.
- ↑ Whether the software plots histogram (H), Cumulative (C) and combined (X) plots of simulated variables.
- ↑ Whether the software plots tornado sensitivity plots showing the influence of input uncertainty on the selected output variable.
- ↑ Whether the software shows uncertainty in start and finish dates of tasks within a Gantt chart.
- ↑ Whether the software can overlay different scenarios, e.g. the schedule uncertainty with and without certain risks.
- ↑ Whether the software incorporates analysis of the uncertainty in cashflow over time.
- ↑ Whether the software incorporates the ability to run simulations in a spreadsheet using its results. This is useful for performing more advanced financial analysis, for example, but requires control of the sampling order to ensure internal consistency.
- ↑ Whether the software incorporates the ability to create custom report templates that can be repopulated with data after each simulation for faster, more consistent reporting.
- ↑ Trial can be repeatedly activated from the Basic edition.
Further reading[edit]
- Hulett, David (2011), Integrated Cost-Schedule Risk Analysis, 1st Edition, USA: Gower, ISBN 978-0-5660916-6-7
- Schuyler, John (2016), Risk and Decision Analysis in Projects, 3rd Edition, USA: Planning Press, ISBN 978-0-9664401-6-4
- Virine L, Trumper M, (2017), Project Risk Analysis Made Ridiculously Simple, World Scientific Publishing, ISBN 978-9814759373CS1 maint: Multiple names: authors list (link)
- Vose, David (2008), Risk Analysis: A Quantitative Guide, 3rd edition, Great Britain: Wiley, ISBN 978-0-470-51284-5
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