Frequently Asked Questions
Q: How is RiskTrak™ different than other risk-related software on the market?
A: RiskTrak™ is designed for the actual management of risk in a project or program. All other software currently available are actually risk-analysis tools (i.e., Monte Carlo simulation), or they are application add-ons, or databases of someone else’s risks. RiskTrak™ with its networking capability allows your entire organization to identify, estimate, analyze, communicate and report on all risks in your project in real-time. No other software gives you the ability to manage risk in this fashion.
Q: I don’t have the time or the budget for my project team to learn complicated software. What kind of learning curve are we talking about with RiskTrak™?
A: RiskTrak™ is Windows-based software with a user-friendly point-and-click, drag-and-drop interface. The actual projects present themselves just like Windows File Manager or Windows Explorer. There is context-sensitive <F1> Help in any window. If you can use a mouse, you can be managing your project’s risks in no time at all.
Q: Is doing risk management with RiskTrak™ better than using a spreadsheet program?
A: Yes, by far. Spreadsheet programs are two-dimensional and have many limitations. RiskTrak‘s polymorphic database provides for complete control over limitless inter-relational data elements. RiskTrak‘s “Project Attributes” screen enables you to fine tune the details of your project or program. For example, you can add new fields of any type and/or change data fields such as: type of currency, currency multiplier, time units, rate per hour, color thresholds, project phases, risk classifications, risk states, allocated users, user permissions, network notifications and more. Give each risk as much detail as you want — up to 40K text fields. Try doing all this with a spreadsheet!
Q: Can RiskTrak be used for any type of project or risk?
A: Yes. RiskTrak™ is the most flexible risk management software you’ll find. You can import projects that you currently have in other PM software, such as MS Project. RiskTrak‘s “Interview Experts” (electronic questionnaires) and “New Project Expert” wizard allow you to create any type of project/program from the start. RiskTrak‘s “Risk Editor” enables you to enter your own risks and mitigation strategies as you define them. You can assign weight factors, probability, costs, duration, classification, phases, target resolution date, status and more. Whatever you choose to manage can be entered into the database. You can also choose to have a customized “Interview Expert” designed for your: industry, business process, WBS, EVMS, program methodology, audit questionnaire, etc., to help standardize the way that you approach risk within all projects of your organization.
Q: How can RiskTrak™ help me manage multiple projects?
A: RiskTrak™ gives you the ability to maintain a complete set of projects on your network. You can open multiple projects at once and tile them on-screen for comparison. Using RiskTrak‘s drag-and-drop capability, you can copy risks, mitigations, or entire sections from one project to another. RiskTrak‘s powerful SQL database search engine allows you to sift, sort, import, export and display data from multiple projects in every way imaginable. RiskTrak™ allows you to create ad hoc reports from the data and report on what is important to you.
Q: Is the software license good for only a set amount of time?
A: No! Unlike some other programs (that don’t do nearly as much as RiskTrak™ does), once you purchase your RiskTrak™ software, it is yours permanently. You can use it for as long as your project lasts and for all your future projects and programs, too!
Q: What is “Phishing?”
A: See our E-mail FAQs page.