Risk assessment through quantitative analysis

What is quantitative analysis? While analyzing risks in software development companies, we use two a

What is quantitative analysis?

While analyzing risks in software development companies, we use two approaches-Quantitative or Qualitative. Qualitative analysis is the technique wherein we use proper mathematical models. Whereas, qualitative analysis is done by assessing the quality of work which does not contain any sort of measurement. Qualitative analysis involves the analysis of statistical and mathematical data with numerical results.

What is quantitative analysis in risk management?

As quantitative risk analysis deals with a numerical solution, risks are assigned numbers on which the assessments are made. Usually this analysis is made on the basis of cost or time. That is, risk is measured in terms of the loss in cost or time.

Necessity of Quantitative risk assessment

Ideally, a quantitative risk assessment is a compulsion when the policies involved in a project demands it. Apart from all this, there are situations where quantitative techniques become essential. These situations vary from project to project.

Some cases where quantitative analysis is a must for proper risk assessment are:

  • When single point estimates are used for project planning.
  • Understanding the maturity in risk management process of the project undertaken.
  • Deciding between two or more Project approaches.

Quantitative analysis also aids to characterize organizations and leaders to analyze project risk. The ultimate aim of quantitative analysis is to minimize the annual loss and can be used to:

  • Identify the threats that can be reduced to optimize costs.
  • Prevent the loss of assets.
  • Optimize the ROI.

Difference between Qualitative and quantitative analysis

  • Qualitative analysis considers all the risks in the identifying process while quantitative risk analysis process considers those processes which are marked for further analysis in the qualitative risk analysis.
  • Qualitative analysis is done by creating a probability/impact matrix whereas quantitative risk assessment techniques predict the outcomes in terms of money or time based on combined effects of risk.
  • All projects use qualitative risk analysis but not all projects use quantitative analysis.
  • Qualitative analysis does not use mathematical models to analyze risks whereas quantitative models do use mathematical models to analyze risks.

Various techniques used in Quantitative risk analysis

The various techniques used in quantitative risk analysis are:

  • Estimated monetary value
  • Monte Carlo Simulation
  • Sensitivity analysis

Estimated monetary value (EMV):

According to PMBOK, this is a process used to identify, analyze and respond to project risk.

EMV is used to analyze as to how much risk can be tolerated by the stakeholders and how much fallback plans do they want. Stakeholders often want to know the monetary value of the risk occurring. For such situations EMV is the best technique.

EMV= Probability*Impact


 Suppose there is a project where there are the following risk probabilities:

  • Weather: A 25 percent chance of excessive snow fall that will delay the construction for two weeks which will, in turn, cost the project to $80,000.
  • Construction cost: A 60 percent probability that the price of the project will go down by $100,000 because of lowering construction cost.
  • Labor turmoil: A 15 percent probability of construction coming to a halt if the workers go on strike. The impact would lead to a loss of $150,000. Consider your industry and geographic area to determine whether this risk would have a higher probability.

To find out the EMV, the following calculations are made:

Weather: (25/100)*(-80000), negative since loss


Construction cost: (60/100)*(100,000), positive since gain


Labor turmoil: (15/100)*(-150,000)


Therefore Project EMV = -20000+60000-22500=15,500, hence the project will gain $15,500 as the final value is positive.

Monte Carlo simulation:

Monte Carlo analysis uses simulations to determine the risks for various scenarios. Here, certain variable inputs are considered to generate the range of outcomes with a confidence level for each outcome. This is done by establishing a mathematical model. This technique is used for forecasting the likely outcome of an event and thereby making project decisions.


Let us take an example. Suppose there are 3 modules for a project. Monte Carlo analysis determines the best case (optimistic), most likely and worst case (pessimistic) scenarios as follows:


Best case completion

Most likely case completion

Worst case completion


2 days

4 days



3 days

4 days

6 days


1 day

3 days

5 days

Total duration

6 days

11 days

16 days

Let us assume that we run the simulation for 500 times. We see that the project can be completed between 6 to 16 days. We get the following results from the simulations:

Total Duration

No. of times the simulation result was less than or equal to the total duration

Percentage simulation where the result was less than or equal to the total duration



































This simulation shows that there are 18 % chances that the project gets completed in 9 days, 40 % chances of it being completed in 13 days and so on.

Sensitivity Analysis:

Sensitivity analysis is a technique used to show the effects of changing one or more variables on an outcome. For example, in project management, it may be used to determine the change in ROI if the output of a certain variable process is changed.

In project management, the purpose of sensitivity analysis is to:

  • Help identify the key variables which influence the project cost and benefit streams
  • Investigate the consequences of likely adverse changes in these key variables
  • Assess whether project decisions are likely to be affected by such changes
  • Identify actions that could mitigate probable adverse effects on the project


Irrespective of it being a quantitative or qualitative process, risk assessment, in software outsourcing companies, is the most important phase of project management. The various ways of Quantitative assessment serves assured ways of risk management after qualitative assessment is made. So, the importance of qualitative analysis is very high as it gives exact values for risk assessment.

Guidelines for Android application design

Today mobile phones are considered as necessary accessory and it is not only looked as telecommunica

Today mobile phones are considered as necessary accessory and it is not only looked as telecommunication device but the multitasking gadget that makes everyday life easy. The applications developed by mobile application development companies India are the inseparable parts of the smart phones which makes it multifunctional. The smart phones have reduced the time of the users in many ways by providing instant solution. We can understand the significance of it by looking at example fund transfer from one bank account to other bank account.  The person have various options like visit a bank, visit an ATM, drop a cheque, use Internet banking or use a mobile app. Obviously, the first three options are tedious. Internet banking and mobile app banking give the flexibility to transfer fund instantly from anywhere. But between them the mobile application one is more instant as it is secured and multiple credentials are not needed to be entered every time.

Importance of design in app development

Android app design is essential to attract the user for long hours. Designing is combining the user mind with the user interface.  Android app design is not only important for bringing in new customers or retaining them but also to depict the brand value of the company. A profound app design will bring in more downloads which gradually increases the ROI of the organization.

Guidelines for making effective application design

  • User driven

Recognizing target audience in the initial phase makes it easy for app designers to plan the functionalities of the app according to the user preferences to make it valuable and grab more attention. After confirming the target user, create persona of them which allows determining what will drive users’ decisions within the app.

  • Create prototype

Before creating actual design, create a simple prototype. Make sure that prototype covers all the basic functionality of the application. The prototype can be made by using simple pen and paper however functionality and flow is clear.

  • Integrity of an App

The application should look like a one collaborative thing; no element should contradict or ambiguous. The design should be easy to understand and guiding the user to find the things quickly and easily. Also there is no place for intrusive or frivolous; it simply takes user away from application.

  • Navigation

Navigation is a journey of the application which has be easy and convenient for users. The hierarchy in the processes is important to the user to intuitively traverse through the content of the app. While making prototype the navigations should be clear for better implementation. To better navigation design learn creating swipe views with tabs, creating a navigation drawer, providing up and back navigation and implementing descendant navigation.

  • Consistency

The style and theme of application should be consistent to give complete and connected experience to the user. This can take place when design is guided by the Android SDK standards and paradigms. Consistency elevates user experience and encourages the user to use app. 

  • Immediate results

In today’s fast world nobody has the time to wait and mobiles are designed for quick access. Thus, customer expects the immediate results from the application. To get results faster improve performance of the application and tweak the UI. Waiting is always annoying so if application requires time to perform any heavy tasks then at least let users know how long they have to wait.      

  • Easy to learn

To attract user in first time the application should be easy to learn. To make application easy to learn use design patterns that is familiar to users. Identify the popular interfaces and study common mobile patterns, such as slide-out navigation. This does not mean copying design of others, the common patterns will be like baseline to enable user to learn fast, then on that own layer of creativity has to be applied.  

  • Accessibility for fat fingers

All mobiles are finger touch; very few have the stylus option. As fingers are thicker than the stylus or mouse pointer, we have to pay attention to make finger friendly design. Buttons should not be smaller or bunched closely together, this does not make user to tap them accurately. If user does not able tap what he wants to then users frustration will increase.Therefore, it is necessary that there is enough space to tap user.

  • Contrast colours

Colours can make application beautiful if used properly. If similar type of colours are used then details get lost, the buttons or different other elements cannot be properly distinguished from one another. Therefore it is recommended that important elements should have contrast colours to recognize easily. Mostly light colour to buttons with dark or black text is recommended. Also, give the application a clear hierarchy by displaying the most valuable features largely and brightly.

  • Feedback

Feedback is the acknowledgement to the activity or task of the user. The feedback can be positive or negative according to the success or failure of the activity. It can be given by using animation, peek, pop up, sound, notes, etc. Feedback directs the users and tells whether action is complete or not. 

In view of mobile app development companies, Designing is bottom line investment as it directly affects the customers. Smart organizations are realising that effective design is necessity in order to make an impact on business results. It’s more than just how something looks; it’s about how it works and how it satisfies customer needs. Guidelines provided above are the secrets of successful Android development companies.

Top ten project management tools for small to medium IT projects

Project management deals with initiating, planning, executing, controlling, and closing the&nbs

Project management deals with initiating, planning, executing, controlling, and closing the work of team to achieve targets  and meet particular success criteria. A project is a temporary mode designed to produce a unique product, service or result which has defined beginning and end. Project management tool helps better to communicate with team members and keep clients informed. Project management can be seen in every walk of life and phases from making a recipe to developing a complex software, application and webpages.

Project Management facilitates to manage risk, quality, change and benefits the user in terms of timeline, scope and budget. It helps managers follow time frames more accurately, preventing projects from ending past due date. Working with project management tools assist project managers to keep projects under budget and on time. It is important for most business's of any scale which considers  costs that include time / resources, dollars costs and return on the investment needed to make the projects. It smoothens the process of determining the schedule of projects, resources allocated and responsible for ensuring that the stakeholders know about project status.

 1) Microsoft Project

It is widely used tool for project management. Desktop application is available as a Office 365 subscription which allows to work from any corner of world. Plan resources, manage team schedules, calculate scenarios, and collaborate with all the project stakeholders. It helps them develop a schedule, assign resources to tasks, track progress. It also manages the budget, and analyze workloads for an ongoing project.

 2) Podio

Podio is open by default and transparent and can be built on top of an open API. Podio speeds communication and provides the transparency and accountability needed for efficient teamwork, by enabling people to organize and track work in one easy-to-use place. Every app is made using a simple drag and drop interface, with which any user can pick from a combination of these field types to create their apps. Podio has feature of reporting, workflows, webforms, workspace, podio chat, task management.

3) Wrike

Wrike's end-to-end solution takes your projects from initial request to tracking work progress and reporting results. Wrike enables to create and delegate tasks, track deadlines, visualize  plans on the Gantt chart, and share reports. It includes following feature of Gantt chart, Resource and workload management, Cross-team collaboration, custom status and workflow, Real time status update and visual dashboard and reporting. Wrike is a powerful yet user-friendly solution that helps you achieve your project goals.


Basecamp is easy to use interface to collaborate with your team and client. It allows you to create multiple projects and setup discussions, write to-do lists, manage files, create and share documents, and organise dates for scheduling. It facilitates to manage projects and check status on mobile device on the go. It is a good application for small projects where a lot of collaboration is required with clients and team or for internal projects.

5) Smartsheet

Smartsheet is an online project management & task collaboration tool that defines how teams work and works as software as a service application. It is  easy to use spreadsheet-like interface, coupled with file sharing, Gantt charts, card view and work automation features have helps to quickly grow into a favorite business app for productivity and manage any kind of work with one centralized tool that is seamlessly integrated with Google Apps.

 6) Teamwork Projects

Teamwork Projects is the ultimate productivity tool to manage projects with your team. Teamwork allows you to keep all your projects, tasks and files all in one place and easily collaborate with a team. It helps to visualise the entire project through a marked calendar and gantt chart and setup reporting.

 7) Asana

Asana helps teams to track work by single user and manage projects. It facilitates to manage tasks, projects, conversations and dashboard and keeps work organized, and teammates accountable. It also helps to create or join project. To keep track of work with mobile apps for both iOS and Android. It is free to use for teams upto 15.

 8) Freedcamp

Freedcamp is free for unlimited users and projects. Free accounts are limited to 10MB file size limit with unlimited storage on all plans. It facilitates to provide features free to non-profits, teachers and students. It includes components such as Tasks lists,sticky notes,calender milestones, discussions, time tracking.

 9) Trello

Trello is a collaboration tool that organizes projects into boards and organize everything together . It tells what's being worked on, who's working on what, and where something is in a process. It helps to minimize meetings and sync with other platforms.It is easy to organize boards and members for every slice of life with teams. There is no limit to no of users.

 10) Zoho Projects

Zoho Projects is the project management software a that enables users to work online. It is focused on product development and customer support rather than sales and marketing. Zoho integrates with various platforms like MS outlook calendar, google apps, Dropbox. It  plans projects,deep insights charts and reports, keep track  of time,track and fix issues and manage documents. It adds unlimited users on all plans at no extra cost.



Project Management have become indispensable to the modern-day project manager and they form the basis what is achieved during the course of a project. Knowledge of the different kinds of costs that the project will incur is essential to successful budgeting while project managers are planning a project. An understanding of overall cost of a particular company in a specific industry will help project managers create budgets that take cost into proper consideration and deliver winning results. It is difficult to tag any project management tool as the best. Choice of project management tool by companies depends on project requirements, back-end technology, performance, cost and many other aspects. This list is an indicative list that a company can use to select. These are upfront tools to manage project one should review for appropriately according to budget and have secure user experience.

What is the big database called Hadoop?

Doug Cutting and Mike Cafarella two well know computer scientists created Hadoop in 2006. They got t


Doug Cutting and Mike Cafarella two well know computer scientists created Hadoop in 2006. They got this inspiration from Google’s MapReduce a software framework that breaks down the application into numerous small parts. These parts can be run on any node in the cluster. Hadoop after years of development became publicly available in 2012 sponsored by Apache Software Foundation.

Hadoop is an open-source software framework to store data and process this data on clusters. It provides massive storage for any kind of data, huge processing power and the ability to handle limitless parallel tasks or jobs. It is enormously popular and there are two fundamental things to understand here - how it stores data and how it processes data.


Hadoop can store data in a cluster system- through HDFS (Hadoop Distributed File System) which is a part of hadoop. Imagine a file that was larger than your pc’s capacity. Hadoop lets you store files bigger than what can be stored in one particular server or node. It lets you store many files with large volume of data. And there are multiple nodes/servers out there. For example the internet giant like Yahoo uses hadoop which uses thousands of nodes for its operation.

The second characteristic of hadoop is its ability to process data through Map Reduce in a unique way. It processes all the data on the nodes. The traditional method takes longer time to process huge data sets. But in case of Hadoop, it moves the processing software to where the data is and it distributes the processing through a technique called mapping thus reducing the answer likewise and in less time.

Why is Hadoop important in handling Big Data?

  • The tools that Hadoop uses are often on the same servers where the data is located which results into faster data processing.
  • Hadoop provides a cost effective storage solution for business.
  • Hadoop is fault tolerant  i.e. when data is sent to an individual node, that data is also replicated to other nodes in the cluster resulting in providing proper backup in case of any event failure.
  • Hadoop provides a scalable storage platform for business.
  • Hadoop not only has this but it also provides an affordable platform to store all the company’s data for future use.
  • Hadoop is widely used across industries like finance, media and entertainment, government, healthcare, information services, retail etc

Hadoop is developed to a point that it can successfully build large, complex applications. Hadoop also overcome the scalability requirements for handling large sets of data of varied type.

Big vendors are positioning themselves on this technology. Some of the examples are:

  • Oracle has got BigData Machine; this server is dedicated to storage and usage of non-structured content.
  • IBM built BigInsights that acquired many niche actors in the analytical and big data market.
  • Informatica built a tool called HParser, this launches Informatica process in a MapReduce mode, distributed on Hadoop servers.
  • Microsoft has Hadoop backed by Apache for Microsoft Windows and Azure.
  • Some large database solutions like HP Vertica, EMC Greenplum, Teradata Aster Data or SAP Sybase IQ can directly get connected to HDFS.