NetRisk is a specialized software designed for thorough risk analysis in project management. It utilizes Monte Carlo simulation and other statistical methods to accurately predict project outcomes, including costs and completion dates. The software offers features such as drag-and-drop interfaces, customizable reporting tools, and an integrated cost and schedule risk model.

Key Features

• Statistical Power: Correlates activity durations with risk likelihoods and impacts. Offers multiple probability distributions and simulation methods like Monte Carlo and Latin Hypercube.
• Drag & Drop Interfaces: Personalizable interface for easy data manipulation and visualization.
• Results & Comparisons: Allows for viewing frequency distributions, criticality indices, and sensitivity analyses.
• Customizable Charts: Personalizable charts for better data interpretation.
• Qualitative Risk Register: Captures qualitative risk data and allows prioritization and response planning.
• Non-work Modeling: Incorporates non-working periods such as weather conditions or shutdowns into project schedules.
• Integrated Cost and Schedule: Links cost uncertainty with activity schedules for holistic risk assessment.
• Automated Risk Sensitivity: Automatically identifies risks with the greatest impact on project timelines.

Benefits

• Enhanced Predictability: More accurate project timelines and cost predictions through comprehensive risk analysis.
• Streamlined Communication: Facilitates clear communication of risks and impacts to stakeholders.
• Efficient Contingency Planning: Allows for scenario modeling to prepare for potential risks.
• Cost Efficiency: Helps in managing costs more effectively by integrating financial and schedule risks.