Intaver Institute

Intaver Institute Inc.
Private company
Industry Computer Software
Founded 2002
Headquarters Calgary, Alberta, Canada
Products RiskyProject Professional
RiskyProject Lite
RiskyProject Enterprise
RiskyProject Cloud
Website www.intaver.com

Intaver Institute is a software development company that develops a suite of project management, risk analysis and risk management applications. Intaver Institute's product is project risk management and risk analysis software suite RiskyProject. Intaver Institute is a privately owned company headquartered in Calgary, Alberta, Canada.

Company

Intaver Institute Inc. was founded in 2002 by a team of software engineers, mathematicians, and economists. The focus of Intaver Institute was to broaden the use of quantitative risk analysis in projects by developing easy to user software for project managers without specialized knowledge of risk management theory.[1][2] As part of this process, Intaver Institute used Event chain methodology.[3] Event chain methodology is an uncertainty modelling and schedule network analysis technique that is focused on identifying and managing events and event chains that affect project schedules. Another area of Intaver Institute's expertise is fully integrated qualitative and quantitative risk analysis and risk management for projects and portfolio of projects with focus on schedule and cost risk analysis.

Intaver Institute also performs project management and risk management consulting and training. Intaver Institute published papers[4] and books of project risk management and decision analysis [5] with particular focus on application of psychology of judgement and decision making in project management.[6]

History

In 2004, Intaver launched RiskyProject 1.0 which featured project scheduling, resource management, Monte Carlo simulations of project schedules,[7] multiple statistical distributions for task cost and durations, discrete risk event modelling, reporting, and integration with 3rd party project scheduling software.[8][9] In 2005 Intaver Institute's reseller program launched its reseller program.[10][11] In 2006 Intaver Institute started academic program, where RiskyProject software was offered with discounts for educational use.[12][13][14]

In 2007, Intaver released RiskyProject 2 that included improvements in the Monte Carlo simulation algorithm as well interface changes. Probabilistic and conditional branching was the biggest feature to be introduced during this release. Other features include task success rate and crucial tasks analysis and reporting, risk templates, probabilistic calendars, and probabilistic cost analysis charts.

In 2009, Intaver released RiskyProject 3 that whose key new features were an integrated risk register that provided a comprehensive risk management capability.[15] Risk register included risk customizable risk properties, risk categories. Risks from the risk register could to assigned to different tasks and resources. This information can be used for quantitative risk analysis. RiskyProject 3 also included integration with Microsoft Project 2003 and 2007, using RiskyProject toolbars in Microsoft Project.

In 2010, Intaver release Risky Project 4 that included risk response and mitigation planning. Risk analysis of project cost was significantly improved. This release also included a management of non-schedule risks, such as safety, security, quality, etc.[16] Risk weighting was implemented using Analytic hierarchy process .[17] Another feature of this release was a Microsoft Project 2010 Add-in that allows user to perform Monte Carlo simulations on cost and schedule inside Microsoft Project.

In 2012, Intaver released RiskyProject 5 that included upgraded risk management features: history of risk changes, and risk reviews. Probability-Impact risk matrix was improved to include risk tolerance customization features and information about risk mitigation.[18] RiskyProject 5 allows easy convert from qualitative risk analysis (without project schedule) to quantitative cost and schedule risk analysis. This version also included a new reporting engine with integration with Microsoft Powerpoint and Microsoft Excel.

In October 2014, Intaver released version 6[19] that included a new project portfolio risk management client/server application RiskyProject Enterprise to the existing RiskyProject Professional and Lite. RiskyProject 6 also implemented multiprocessing architecture, which significantly improved performance of Monte Carlo simulations. In February 2015, Intaver launched RiskyProject Cloud,[20] a web based project portfolio risk management and qualitative risk analysis tool. RiskyProject Cloud includes risk register, hierarchical list of projects, probability vs. impact risk matrix, risk mitigation and risk response planning, risk reporting, risk reviews, and risk history.

Intaver Institute's Products

RiskyProject is a suite of project risk analysis and management software developed by Intaver Institute that is used to analyse and manage risks across a variety of project types and industries.[21] The RiskyProject suite provides software for both single desktop users to a client/server enterprise system that allows for project portfolio risk analysis and management. The RiskyProject suite of products includes RiskyProject Lite, RiskyProject Professional, RiskyProject Enterprise, and RiskyProject Cloud. RiskyProject is a scalable solution. The users may enable basic risk analysis on a project level with RiskyProject Lite, then implement more advanced project risk analysis using RiskyProject Professional, and finally connect RiskyProject Lite and Professional to the database to implement a portfolio risk analysis with common set of risks across an organization. Intaver Institute's RiskyProject software is also performs project risk analysis and risk management as part of broader portfolio management solutions offered by other companies[22][23][24][25][26][27] . While RiskyProject is a licensed software, the company offers discounts for approved 501(c)(3) non-profits and for educational use.

RiskyProject Professional and Lite

RiskyProject Professional and Lite are desktop software that provides Monte Carlo risk analysis with Event Chain Methodology. Quantitative analysis includes schedule risk, cost risk, and integrated cost and schedule risk. RiskyProject Desktop includes an integrated customizable risk register that can be used to manage the entire project risk lifecycle with properties, reviews, and history. Risk assessment tools include a risk matrix and risk scores. Risk response features include mitigation plans with waterfall chart and pre and post-mitigation scores and baselines. RiskyProject includes Microsoft Project Add-in as well integrates with most scheduling software including Oracle Primavera, Safran Project, Sciforma and others.

RiskyProject Cloud

RiskyProject Cloud is a web based risk management software introduced launched in December 2014. RiskyProject Cloud provides organizations a risk management tool that has an integrated risk register, risk matrix, risk response planning with mitigation plans and waterfall charts and reporting. RiskyProject Cloud maintains a project portfolio hierarchy and allows to assign risks to different projects. RiskyProject Cloud is also an optional component of RiskyProject Enterprise.

RiskyProject Enterprise

RiskyProject Enterprise is a client/server application launched in January 2014 that adds additional project portfolio risk analysis and management capability when used in conjunction with RiskyProject desktop applications. In addition to the basic features that are found in the desktop software, RiskyProject Enterprise uses the desktop client to provide organization-wide risk registers, project portfolio hierarchies, risk scores and ranking for portfolio, programs, and projects, organization-wide response and mitigation plans, comprehensive risk analysis using RiskyProject Professional or Lite, and risk approval process based on different user roles and permissions.

See also

References

  1. ↑ "Startup of the Week – Intaver". Calgary Herald. March 22, 2013. Retrieved 2015-04-04.
  2. ↑ Complete profile – Intaver Institute Inc., Industry Canada, June 5, 2014, retrieved 2015-04-04
  3. ↑ Lev Virine and Michael Trumper (2011), Event Chain Methodology in Details (PDF), retrieved 2015-04-04
  4. ↑ "Intaver Institute Launched Online Journal 'Project Risk and Decision Analysis'" (Press release). PRWeb. March 4, 2006. Retrieved 2015-04-04.
  5. ↑ Lev Virine and Michael Trumper. (2007). Project Decisions: The Art and Science . Management Concepts. Vienna, VA, ISBN 978-1-56726-217-9
  6. ↑ Lev Virine and Michael Trumper. (2013) ProjectThink: Why Good Managers Make Poor Project Choices . Gower Pub Co. ISBN 978-1409454984
  7. ↑ David Hulett. (2009). Practical Schedule Risk Analysis. Gower Pub Co.. ISBN 978-0-566-08790-5
  8. ↑ "Intaver Institute Releases Project Risk Management Software RiskyProject version 1.3" (Press release). PRWeb. October 1, 2005. Retrieved 2015-04-04.
  9. ↑ "Canada’s Intaver Institute added to P/PM Marketplace". PM World Library. November 21, 2014. Retrieved 2015-04-04.
  10. ↑ "Intaver Institute and MBAWare Enter Reseller Agreement" (Press release). PRWeb. November 24, 2005. Retrieved 2015-04-04.
  11. ↑ "RiskyProject Professional". Piccors. July 2007. Retrieved 2015-04-04.
  12. ↑ "Intaver Institute and Academic Superstore Enter Into Reseller Agreement" (Press release). PRWeb. April 22, 2006. Retrieved 2015-04-04.
  13. ↑ "RiskyProject Professional: Advanced Project Management Software with Risk Register and Monte Carlo Analysis". Creation Engine. Retrieved 2015-04-04.
  14. ↑ "Intaver Institute and Creation Engine Enter into Reseller Agreement" (Press release). PRWeb. July 21, 2006. Retrieved 2015-04-04.
  15. ↑ Peter Simon and David Hillson. (2012). Practical Risk Management: The ATOM Methodology. Management Concepts. Vienna, VA. ISBN 978-1567263664
  16. ↑ "Aerospace and defense industry looks to Calgary company to help manage risks" (Press release). PRLog. September 27, 2011. Retrieved 2015-04-04.
  17. ↑ Thomas Saaty and Kirti Peniwati (2008). Group Decision Making: Drawing out and Reconciling Differences. Pittsburgh, Pennsylvania: RWS Publications. ISBN 978-1-888603-08-8
  18. ↑ David Hillson and Ruth Murrey-Webster. (2007). Understanding and Managing Risk Attitude. Gower Technical Press. ISBN 978-0566087981
  19. ↑ "Intaver Institute Releases RiskyProject v.6.1 – Schedule Risk Analysis and Risk Management Software" (Press release). PRWeb. October 12, 2014. Retrieved 2015-04-04.
  20. ↑ "Intaver Institute releases RiskyProject Cloud – Web Based Risk Management Software" (Press release). PRWeb. February 27, 2015. Retrieved 2015-04-04.
  21. ↑ Lalomov D.A. and Kovalenko G.V (November 11, 2014). "Using the RiskyProject Software When Calculating The Risk Approach Based Cost Effectiveness of Engineering-Geophysical Works" (PDF). International Scientific Journal Theoretical & Applied Science 19 (11). Retrieved 2015-04-04.
  22. ↑ "CriticalTools. Related Products, Services and Organizations". CriticalTools. Retrieved 2015-04-04.
  23. ↑ "Project Management with Integrated Risk Analysis using RiskyProject". SNA Software. Retrieved 2015-04-04.
  24. ↑ "RiskyProject". Petroglyph Project Analytics. Retrieved 2015-04-04.
  25. ↑ "Partners: Intaver Institute". PTAG Inc. Retrieved 2015-04-04.
  26. ↑ "Partnerships & Alliances: AEC Software's Technology Alliances". AEC Software. Retrieved 2015-04-07.
  27. ↑ "Advanced Project Risk Management and Schedule Risk Analysis". Steelray. Retrieved 2015-04-07.

External links