NetRisk

A Monte Carlo-based risk-analysis tool for simulating CPM and GPM schedules.

Industry-leading Risk Management Software

Developed in collaboration with industry-leading risk-management professionals, NetRisk offers a unique feature-set unmatched by alternative products.

Completely redesigned and rewritten, NetRisk 2.0 offers specialized functionality in a single application, resulting in an advanced feature-set at a competitive price.

Schedule Risk Analysis

Find project risk resources from our knowledgebase.

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Breakthrough Innovations in Risk Analysis

Un-correlated Risk Impacts

In NetRisk, a risk's probability of occurrence can be un-correlated amongst the activities to which it has been assigned - and in fact, it can even be different. This approach is more realistic for a risk response that affects activities scheduled years apart or at different project sites.

Automated Risk Sensitivity

Thanks to automated risk sensitivity analysis, NetRisk re-runs the entire simulation, each time removing the risk with the biggest impact. The result is a tornado chart showing the exact impact in days that each risk has on the project completion.

Non-critical Activity Floating

By scheduling activities on early starts in every iteration, CPM risk analysis does not account for the impact of float use on project completion and therefore overestimates the probability of completion. With NetRisk, activities off the critical path can be started later to model resource leveling, progress pacing, or other strategic reasons, resulting in a more realistic model.

For more on floating and pacing, please read:

Mitigating the Planning Fallacy

Tailor-made for Risk Professionals

Qualitative Risk Register

Define qualitative probabilities and impacts, prioritize by risk ratings, enter mitigation strategies, and record responses and comments, all in a single view directly within NetRisk.

Non-work Modeling

Overlay calendars on top of activities for modeling probabilistic weather, hurricanes, shutdowns, or other non-working windows, and view their impacts together with risk sensitivity results.

Best in Class User Experience

Tabular interfaces for rapid data entry combined with the elimination of obstructive dialog boxes result in an interface that is both easier to learn and quicker to operate than alternative products, without sacrificing capability.

The Fundamentals You Need

Statistical Power

Correlate activity durations and risk likelihoods and impacts, choose from over half a dozen probability distributions, and run simulations using Monte Carlo or Latin Hypercube sampling methods.

Drag & Drop Interfaces

Use the mouse to remove, resize, or rearrange individual columns or entire panes, resulting in a personalized view that works for you.

Results & Comparisons

View frequency distributions, criticality indices, cruciality, sensitivity, and more. Compare results across activities or across simulations at the click of a button.

Customizable Charts

Rename titles and axes, resize text, configure colors, and add markers for confidence intervals, percentiles, and variances.

Flexible Licensing Options

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The Value of Proper Project Risk Management

Integrated Risk Management

Project risk management is a key factor in making sure projects succeed in finishing on time and at cost. Project risks are uncertain events that, if occurring, have an impact on one or more project objectives such as scope, schedule, cost, and quality. Project risk collectively causes fluctuation in capital expenditure and forecasting, cost overrun, and schedule delay.</p> <p>An integrated risk management process can improve project delivery and team communications and better balance strategic needs with project budgeting and capital planning. This essential process includes developing qualitative risk analysis in conjunction with project managers and stakeholders; integrating those assessments into robust, quantitative cost and schedule risk analyses; and monitoring and mitigating any risks accordingly.

Risk Management Tips

Pro-tip on Risk Management within Construction Projects: We frequently find that creating a risk register and a participating in a formal workshop for potential risk identification on a project are key to avoiding preventable delays and subsequent project cost increases.

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Frequently Asked Questions About Project Risk Management

When during the lifecycle of a project is the best time for project managers to identify potential risks?

Before a project has begun, a risk assessment should be undertaken so as to identify how realistic the schedule is and make any adjustments to time and budget if necessary. Once the project is underway, additional assessments should be done which factor in actual progress and updates to the schedule.

What role does NetRisk play in communicating potential problems to team members and stakeholders?

NetRisk provides project managers with quantifiable data and interactive results, allowing them to communicate the issues more effectively. Stakeholders can see the major problems and the impact they have on the overall schedule.

Can NetRisk help project managers create contingency plans after identifying new risks that could have a negative effect on the project?

NetRisk facilitates contingency planning by allowing multiple scenarios to be run and compared. Project managers can see the probability of meeting targeted completion dates, as well as the time contingency necessary in the event a risk occurs. This helps project managers develop a plan for what to do if a risk cannot be mitigated at the outset.

What's the difference between positive risks and negative risks?

A positive risk, or opportunity, can reduce the amount of time it takes to complete a certain activity. A negative risk, or threat, will increase an activity’s duration. Both opportunities and threats can be documented in the NetRisk risk register.

How is NetRisk different from other risk management tools?

NetRisk is the only tool which allows float use to be modeled during simulation, risk drivers with variable likelihoods, and multiple mitigation scenarios directly in the risk register. A dialog-box-free interface makes it easy to learn and navigate, while tables make data entry quick and familiar. Automatic software updates, hands-on customer-support, and an affordable price make NetRisk stand out from other tools.

What is the best way to register project management risks in NetRisk?

NetRisk provides a risk register for capturing both qualitative and quantitative input. Risks can be identified, captured, scored, tracked, and reported.

How can project risk management help my project team manage risk for better project success?

Once risks have been identified and discussed, strategies can be taken to avoid or reduce their potential impact on the project. When risks do occur, a plan can be established to avoid unnecessary surprises or delays. Stakeholder expectations can be managed through improved communication and more realistic timelines.

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