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Case Studies
Recently Added
University of Tasmania
Product: @RISK
Application: Evaluating production strategies for salmon farming
Industry: Agriculture/Aquaculture
National Grid UK
Product: @RISK
Application: Modeling electricity network restoration performance
Industry: Energy & Utilities
Solis Financial Forensics LLC
Product: @RISK
Application: Projecting Economic Damages for Attorneys Involved in Complex Lawsuits
Industry: Financial Forensics
CONTI-Group
Product: @RISK
Application: Financial Planning for Shipping Investment Funds
Industry: Shipping/Transport
Major Utility in Eastern US
Product: The DecisionTools Suite
Application: Load Forecasting
Industry: Utilities
Amway
Product: Custom Development
Application: Long-Range Capacity Planning
Industry: Manufacturing
L.E. Peabody & Associates
Product: @RISK
Application: Real Option Valuations of Power Plants
Industry: Energy & Utilities
Louisiana Department of Health
Product: Custom Development
Application: Large-scale Hospital Evacuation Planning
Industry: Government
Pellegrino & Associates
Product: @RISK
Application: Intellectual Property Valuation
Industry: Finance
Integral Consulting
Product: @RISK
Application: Mine Remediation
Industry: Environmental
University Of Victoria
Product: @RISK
Application: Lifetime Excess Cancer Risk
Industry: Academic
Rusnano
Product: The DecisionTools Suite
Application: Private equity investment in nanotechnology
Industry: Finance
MRAG Asia Pacific
Product: @RISK
Application: Quantifying Illegal Fishing
Industry: Environment
Netconomy
Product: @RISK
Application: Budget Forecasting
Industry: Finance
Department of Energy and Climate Change
Product: @RISK
Application: Carbon emission forecasts
Industry: Government
Academic
Brazilian Petroleum Institute
Product: @RISK
Application: Oil Exploration
Bucknell University
Product: PrecisionTree
Application: Technology Implementation
Cambridge University
Product: @RISK
Application: Climate Change
Columbia University
Product: @RISK
Application: Energy and Public Policy
Cornell University
Product: @RISK
Application: Financial Management
Curtin University of Technology
Product: @RISK
Application: Statistical analysis
DePaul University/Advanced Analytics LLC
Product: DecisionTools Suite
Application: Sports Wagering
Illinois State University
Product: @RISK
Application: Pharmaceutical R&D, Net Present Value, Internal Rate of Return
Illinois State University
Product: @RISK
Application: Real Options and Finance
INCAE Business School
Product: @RISK
Application: Finance and Capital Markets
Johnson Graduate School of Management, Cornell University
Product: @RISK
Application: Election Forecasting
Missouri University of Science and Technology
Product: @RISK
Application: Mining Engineering
Pace University
Product: StatTools, DecisionTools Suite
Application: Operations Research
Shanghai Jiao Tong University
Product: DecisionTools Suite
Application: Engineering system design and optimization
Swinburne University of Technology
Product: @RISK
Application: Venture Capital Management
Technical University of Denmark
Product: @RISK
Application: Transportation research
Tulane University
Product: @RISK
Application: Food Safety
University of Houston
Product: DecisionTools Suite
Application: Managerial Decision Making
University of London Royal Veterinary College / EpiX Analytics
Product: @RISK
Application: Health and food safety
University Melbourne
Product: @RISK
Application: Forecasting Dairy Operating Profits
University of New Brunswick
Product: @RISK
Application: Reducing Environmental Impact of Commercial Aquaculture
University of Pennsylvania
Product: DecisionTools Suite
Application: Organizational Dynamics
University of Pretoria
Product: DecisionTools Suite, @RISK, TopRank
Application: Viral Exposure
University of Toronto
Product: DecisionTools Suite
Application: Financial Management
University Of Victoria
Product: @RISK
Application: Lifetime Excess Cancer Risk
University of Witwatersrand
Product: @RISK
Application: Mining Engineering
Virginia Commonwealth University
Product: @RISK
Application: Value at Risk Analysis

READ ALSO
In Agriculture:
Cornell University / Purdue University
Product: @RISK
Application: Agriculture Policy Assessment
University of Buenos Aires
Product: @RISK
Application: Agricultural Investment
University of Tokyo
Product: @RISK
Application: Agriculture
In Environment:
Cornell University /
Lower Colorado River Authority

Product: @RISK
Application: Natural Resource Mgmt
In Energy:
Cranfield University
Product: @RISK
Application: Equipment Reliability
In Finance:
London Business School /
Novartis Pharmaceutical

Product: @RISK, PrecisionTree, RISKOptimizer, DecisionTools Suite
Application: Portfolio Management
In Medical:
Royal Veterinary College
Product: @RISK
Application: Disease Prevention
Energy & Utilities
Abu Dhabi Water &
Electricity Company

Product: @RISK
Application: Demand Forecasting
Águas do Douro e Paiva
Product: @RISK
Application: Cost Reduction
Alesco Risk Management
Services Limited

Product: @RISK
Application: Risk modelling to determine optimum risk financing and insurance strategies
BC Hydro
Product: @RISK
Application: Project Analysis
Bigen Africa
Product: @RISK
Application: Demand and Cost Forecasting
Blade Energy
Product: @RISK
Application: Drilling Productivity
Carnegie Mellon University / Pittsburgh Technical
Product: @RISK
Application: Mitigating project schedule and cost overrun risk
Cinergy
Product: @RISK
Application: Acquisitions Analysis
Cranfield University
Product: @RISK
Application: Equipment Reliability
Det Norske Veritas (DNV)
Product: @RISK
Application: ROI of Different Projects
ECN
Product: @RISK
Application: Financial analysis of offshore wind farms
Enex
Product: DecisionTools Suite
Application: Project Planning
Fitness First
Product: @RISK, RISKOptimizer
Application: Energy Budget Resilience Optimization
Fluor Corporation
Product: @RISK
Application: Oil and Gas Estimating
Futuremetrics
Product: @RISK
Application: Price Hedging
Grupo ISA
Product: @RISK
Application: Investment Analysis
Hydroelectric Power in Colombia
Product: @RISK
Application: Cost estimation
IHS Energy Group
Product: @RISK Developer Kit
Application: Exploration, Drilling, and Production Analysis
Integrating Renewables with Electricity Storage
Product: @RISK
Application: Energy supply and Electricity Demand
L.E. Peabody & Associates
Product: @RISK
Application: Real Option Valuations of Power Plants
Major Utility in Eastern US
Product: The DecisionTools Suite
Application: Load Forecasting
Metaproject
Product: @RISK, PrecisionTree
Application: Rescue Operations
National Grid UK
Product: @RISK
Application: Modeling electricity network restoration
Northern Indiana
Public Service Company

Product: @RISK, Evolver, RISKOptimizer
Application: Pricing, Production Allocation for Regulation Compliance
Petrobras
Product: @RISK
Application: Exploration & Production
RiskAdvisory
Product: @RISK Developer Kit
Application: Energy Production and Pricing
Rudd Asset Management (RAM)
Product: @RISK
Application: Waste disposal and renewable energy
Sark7
Product: Decision Tools Suite (@RISK, Precision Tree and Evolver)
Application: Optimising the business case for sustainable energy projects
Tioga Energy
Product: @RISK
Application: Solar energy savings
Transelectrica
Product: @RISK
Application: Measuring and Mitigating Open Market Risk
WEnergy Global
Product: @RISK
Application: Return on Investment

SEE ALSO:
Halcrow
Product: @RISK
Application: Flood Protection

SEE ALSO: INDUSTRY MODELS
» Energy Models

Environment
Air and Waste Management Association
Product: @RISK
Application: Estimating vehicles on congested roads
Aspinall & Associates
Product: @RISK, PrecisionTree, DecisionTools Suite
Application: Disaster Planning
Australian Department of Climate Change
Product: @RISK
Application: Climate Change and Flooding Risk Assessment
Bristol’s Environmental Risk Research Centre (BRISK)
Product: DecisionTools Suite
Application: Disaster Planning
Cornell University /
Lower Colorado River Authority

Product: @RISK
Application: Natural Resource Management
Greenup Locks and Dam
Product: @RISK
Application: Dam maintenance and repair
Halcrow
Product: @RISK
Application: Flood Protection
Halcrow Group Ltd /
UK Environment Agency

Product: @RISK
Application: Flood Management
Integral Consulting
Product: @RISK
Application: Mine Remediation
Kennecott Utah Copper
Product: @RISK
Application: Pollution Cleanup
MRAG Asia Pacific
Industry: Environment
Application: Quantifying Illegal Fishing
NOAA Fisheries
Product: @RISK
Application: Estimating effects of dams on Atlantic salmon population dynamics
Purdue University
Product: @RISK
Application: Cost-benefit analysis of biofuel production under two government policies
Triangle Economic Research
Product: @RISK, PrecisionTree
Application: Pollution Cleanup
University of California, Berkeley
Product: @RISK
Application: Modeling extinction risk for Endangered Species
World Conservation Union
Product: @RISK, PrecisionTree, DecisionTools Suite
Application: Endangered Species Protection

READ ALSO
In Academic:
Cambridge University
Product: @RISK
Application: Climate Change
Sark7
Product: Decision Tools Suite (@RISK, Precision Tree and Evolver)
Application: Optimising the business case for sustainable energy projects
In Agriculture:
World Aquatic Veterinary Medical Association (WAVMA)
Product: @RISK
Application: Helping aquatic farmers to make informed choices that reduce risk of disease in their animals without extensive and costly testing
Finance
Albert Fensterstock Associates
Product: NeuralTools
Application: Credit and debt risk analysis
Benemerita Universidad Autonoma de Puebla
Product: @RISK
Application: Derivatives Pricing
Cynametrix
Product: DecisionTools Suite
Application: Portfolio Optimization including IDB
FiduciaryVest
Product: @RISK
Application: Asset Allocation, Value-at-Risk
George Washington University
Product: @RISK & RISKOptimizer
Application: Debt Portfolios, Capital Investments
London Business School /
Novartis Pharmaceutical

Product: @RISK, PrecisionTree, RISKOptimizer, DecisionTools Suite
Application: Portfolio Management
LStar Capital
Product: @RISK
Application: Risk Quantification in Film Financing
Merck
Product: @RISK
Application: Value-at-Risk Exchange Rate
Netconomy
Product: @RISK
Application: Budget Forecasting
Nighthawk Intelligence
Product: DecisionTools Suite
Application: Private label credit card (PLCC) accounts for major electronics retailer
Pellegrino & Associates
Product: @RISK
Application: Intellectual Property Valuation
Performance Thinking & Technologies
Product: @RISK & RISKOptimizer
Application: Hedge Fund management
Procter & Gamble
Product: @RISK, PrecisionTree, DecisionTools Suite
Application: Production Siting, New Product Analysis, Exchange Rate Analysis, Real Options
Risqworx
Product: @RISK
Application: Calculating investment risk and ROI
Rusnano
Industry: Finance/Banking
Application: Private equity investment in nanotechnology
RoseCap Investment Advisors
Product: @RISK
Application: Valuation of Direct Investment
Solis Financial Forensics LLC
Product: @RISK
Application: Projecting Economic Damages for Attorneys Involved in Complex Lawsuits

READ ALSO
In Academic:
Swinburne University of Technology
Product: @RISK
Application: Venture Capital Management
In Energy:
Cinergy
Product: @RISK
Application: Acquisitions Analysis
Grupo ISA
Product: @RISK
Application: Investment Analysis
In Government:
Her Majesty's Prison Service
Product: @RISK
Application: Cash Flow Analysis
In Insurance/Reinsurance:
Society of Actuaries /
Casualty Actuary Society

Product: @RISK
Application: Pension and Insurance Planning

SEE ALSO: INDUSTRY MODELS
» Finance/Banking Models
Recently Added
University of Tasmania
Product: @RISK
Application: Evaluating production strategies for salmon farming
Industry: Agriculture/Aquaculture
National Grid UK
Product: @RISK
Application: Modeling electricity network restoration performance
Industry: Energy & Utilities
Solis Financial Forensics LLC
Product: @RISK
Application: Projecting Economic Damages for Attorneys Involved in Complex Lawsuits
Industry: Financial Forensics
CONTI-Group
Product: @RISK
Application: Financial Planning for Shipping Investment Funds
Industry: Shipping/Transport
Major Utility in Eastern US
Product: The DecisionTools Suite
Application: Load Forecasting
Industry: Utilities
Amway
Product: Custom Development
Application: Long-Range Capacity Planning
Industry: Manufacturing
L.E. Peabody & Associates
Product: @RISK
Application: Real Option Valuations of Power Plants
Industry: Energy & Utilities
Louisiana Department of Health
Product: Custom Development
Application: Large-scale Hospital Evacuation Planning
Industry: Government
Pellegrino & Associates
Product: @RISK
Application: Intellectual Property Valuation
Industry: Finance
Integral Consulting
Product: @RISK
Application: Mine Remediation
Industry: Environmental
University Of Victoria
Product: @RISK
Application: Lifetime Excess Cancer Risk
Industry: Academic
Rusnano
Product: The DecisionTools Suite
Application: Private equity investment in nanotechnology
Industry: Finance
MRAG Asia Pacific
Product: @RISK
Application: Quantifying Illegal Fishing
Industry: Environment
Netconomy
Product: @RISK
Application: Budget Forecasting
Industry: Finance
Department of Energy and Climate Change
Product: @RISK
Application: Carbon emission forecasts
Industry: Government
DecisionTools Suite Cases
Aspinall & Associates
Industry: Environment
Application: Disaster Planning
Bristol’s Environmental Risk Research Centre (BRISK)
Industry: Environment
Application: Disaster Planning
Cal Poly, San Luis Obispo
Industry: Agriculture
Application: Financial Risk Management in Agriculture
Captum Capital
Industry: Healthcare/Pharmaceutical
Application: rNPV of New Companies and Technologies
Cynametrix
Industry: Finance
Application: Portfolio Optimization including IDB
DePaul University/Advanced Analytics LLC
Industry: Academia
Application: Sports Wagering
DNV GL SE
Industry: Shipping
Application: Risk and cost-benefit analysis to enhance the safety of ships and ship systems
Enex
Industry: Energy
Application: Geothermal Power Plant Equipment Procurement
Linksbridge SPC
Industry: Non-Profit
Application: Evaluating Efficacy of Public Health Initiatives
Logion BV
Industry: Transportation
Application: Transportation, Distribution, and Inventory Management
London Business School /
Novartis Pharmaceutical

Industry: Financing/Banking
Application: Portfolio Management
Major Utility in Eastern US
Industry: Utilities
Application: Load Forecasting
MegaFon
Industry: Telecommunications
Application: Enterprise Risk Management
Met-Mex Peñoles
Industry: Six Sigma
Application: Six Sigma Design of Experiments
Nighthawk Intelligence
Industry: Finance
Application: Private label credit card (PLCC) accounts for major electronics retailer
Novelis
Industry: Manufacturing
Application: Project Evaluation
PragmaRisk
Industry: Engineering, Construction
Application: Project cost and schedule risk analysis
Procter & Gamble
Industry: Academic
Application: Production Siting, New Product Analysis, Exchange Rate Analysis, Real Options
Rusnano
Industry: Finance/Banking
Application: Private equity investment in nanotechnology
Sark7
Industry: Sustainable energy (project consulting)
Application: Optimising the business case for sustainable energy projects
Shanghai Jiao Tong University
Industry: Finance
Application: Engineering system design and optimization
Triangle Economic Research
Industry: Environment
Application: Pollution Cleanup
Unilever
Industry: Manufacturing
Application: Product launch, capex, and many others
University of California San Diego School of Medicine
Industry: Healthcare / Pharmaceutical
Application: Public Health screening
University of Houston
Industry: Energy, Finance, Medical, and more
Application: Managerial Decision Making
University of Toronto
Industry: Academic
Application: Financial Management
University of Pretoria
Industry: Sciences
Application: Viral Exposure
World Conservation Union
Industry: Environment
Application: Endangered Species Protection

SEE ALSO
In StatTools:
Pace University
Industry: Academic
Application: Operations Research

In @RISK:
Northern Indiana
Public Service Company

Industry: Energy
Application: Pricing, Production Allocation for Regulation Compliance


@RISK Cases
Abu Dhabi Water &
Electricity Company

Industry: Energy and Utilities
Application: Demand Forecasting
African Risk Capacity (ARC)
Industry: Insurance/Reinsurance
Application: Assessing Catastrophic Drought Risk
Air and Waste Management Association
Industry: Environment
Application: Estimating vehicles on congested roads
Alesco Risk Management
Services Limited

Industry: Energy
Application: Risk modelling to determine optimum risk financing and insurance strategies
Amway
Services Limited

Industry: Manufacturing
Application: Long-Range Capacity Planning
Analytics
Industry: Academic
Application: Health and food safety
Águas do Douro e Paiva
Industry: Energy
Application: Cost Reduction
AgustaWestland
Industry: Aerospace
Application: New product development, feasibility studies, business initiatives
Antea Group
Industry: Environment
Application: Cost Justification of Water Recycling Systems
ARC of Yates
Industry: Non-Profit
Application: Budget Forecasting
Australian Department of Climate Change
Industry: Environment
Application: Climate Change and Flooding Risk Assessment
BC Hydro
Industry: Energy
Application: Project Analysis
Benemerita Universidad Autonoma de Puebla
Industry: Finance
Application: Derivatives Pricing
Bigen Africa
Industry: Energy & Utilities
Application: Demand and Cost Forecasting
Blade Energy
Industry: Energy
Application: Drilling Productivity
Brazilian Petroleum Institute
Industry: Academic
Application: Oil Exploration
Broadleaf Capital International
Industry: Mining
Application: Schedule and Cost Risk, Project Management
Cambridge University
Industry: Academic
Application: Climate Change
Carnegie Mellon University / Pittsburgh Technical
Industry: Nuclear Energy / Energy Infrastructure
Application: Mitigating project schedule and cost overrun risk
Centre for Traffic
& Transport, Denmark

Industry: Transportation
Application: Transportation Planning
Cinergy
Industry: Energy
Application: Acquisitions Analysis
City of Edmonton / SMA Consulting
Industry: Transportation / Government
Application: Project management
Columbia University
Industry: Academic
Application: Energy and Public Policy
CONTI-Group
Industry: Shipping/Transport
Application: Financial Planning for Shipping Investment Funds
Cornell University
Industry: Academic
Application: Financial Management
CP Risk Solutions/
Illinois State University

Industry: Insurance
Application: Reinsurance Strategy
CP Risk Solutions/Illinois State University
Industry: Manufacturing
Application: Factory Shutdown
Cranfield University
Industry: Energy
Application: Equipment Reliability
Cornell University/
Lower Colorado River Authority

Industry: Environment
Application: Natural Resource Mgmt
Cornell University
Industry: Agriculture
Application: Agriculture Policy Assessment
Cummins Inc.
Industry: Six Sigma
Application: Six Sigma Quality Analysis
Curtin University of Technology
Industry: Academic
Application: Statistical analysis
Department of Energy and Climate Change
Industry: Government
Application: Carbon emission forecasts
Deloitte
Industry: Insurance/Reinsurance
Application: Cell Captive Insurance
Deloitte AIS
Industry: Insurance/Reinsurance
Application: Financial Planning for Environmental Rehabilitation
Det Norske Veritas (DNV)
Industry: Energy
Application: ROI of Different Projects
DNV GL
Industry: Energy
Application: Project Risk Management, Enterprise Risk Management, SHE Risk Management, Operational Risk Management
ECN
Industry: Energy research organisation
Application: Financial analysis of offshore wind farms
ENGCOMP
Industry: Government/Defense
Application: Budgeting
Federal Highway Adminstration
Industry: Transportation
Application: Pavement Cost Analysis
FiduciaryVest
Industry: Finance
Application: Asset Allocation, Value-at-Risk
Fitness First
Industry: Energy / Utilities
Application: Energy Budget Resilience Optimization
Fluor Corporation
Industry: Energy
Application: Oil and Gas Estimating
Fort McMurray Airport Authority (FMAA) / Revay and Associates Ltd.
Industry:Transportation
Application: Enterprise Risk Management (ERM)
Futuremetrics
Industry: Energy
Application: Price Hedging
Gemeente Hoorn
Industry: Government
Application: Urban Planning
Graphic Era University - Dehradun
Industry: Manufacturing
Application: Supply Chain Management
George Washington University
Industry: Finance
Application: Debt Portfolios, Capital Investments
Greenup Locks and Dam
Industry: Energy
Application: Dam maintenance and repair
Grupo ISA
Industry: Energy
Application: Investment Analysis
Halcrow
Industry: Energy & Utilities
Application: Flood Protection
Halcrow Group Ltd /
UK Environment Agency

Industry: Environment
Application: Flood Management
Her Majesty's Prison Service
Industry: Government
Application: Cash Flow Analysis
Hospital Clinic Barcelona
Industry: Medical
Application: Blood Screening
Hydroelectric Power in Colombia
Industry: Energy
Application: Cost estimation
Illinois State University
Industry: Academic / Pharmaceutical
Application: Pharmaceutical R&D, Net Present Value, Internal Rate of Return
Illinois State University
Industry: Academic
Application: Real Options and Finance
INCAE Business School
Industry: Academic
Application: Finance and Capital Markets
Integral Consulting
Industry: Environment
Application: Mine Remediation
Integrating Renewables with Electricity Storage
Industry: Energy & Utilities
Application: Energy Supply and Electricity Demand
JB Scherer Consulting Group LLC
Industry: Manufacturing
Application: Future Net Income Forecasting
Johnson Graduate School of Management, Cornell University
Industry: Academic / Politics
Application: Election Forecasting
Kewpie Corporation and University of Tokyo
Industry: Agriculture
Application: Food Safety
Katrina Disaster Response Center
Industry: Government
Application: Disaster Response Planning
Kennecott Utah Copper
Industry: Environment
Application: Pollution Cleanup
KSU College of Veterinary Medicine
Industry: Agriculture
Application: Biosecurity to Avoid Disease Introduction
Kuwait Environment Public Authority
Industry: Government
Application: Air Quality
Larsen & Toubro Institute of
Project Management

Industry: Manufacturing
Application: Project Management
L.E. Peabody & Associates
Industry: Energy & Utilities
Application: Real Option Valuations of Power Plants
Lockheed Martin / NASA
Industry: Aerospace
Application: Schedule risk assessment
Louisiana Department of Health
Industry: Government
Application: Large-scale Hospital Evacuation Planning
LStar Capital
Industry: Finance
Application: Risk Quantification in Film Financing
Merck
Industry: Finance/Banking
Application: Value-at-Risk Exchange Rate
Missouri University of Science and Technology
Industry: Academic
Application: Mining Engineering
MRAG Asia Pacific
Industry: Environment
Application: Quantifying Illegal Fishing
Murray & Roberts
Industry: Construction
Application: Evaluating enterprise risks using risk modelling for a cash flow based approach
National Grid UK
Industry: Energy & Utilities
Application: Modeling electricity network restoration performance
Netconomy
Industry: Finance
Application: Budget Forecasting
New York City Department
of Health and Mental Hygiene

Industry: Medical
Application: Future Pandemic Planning
Northern Indiana
Public Service Company

Industry: Energy
Application: Pricing, Production Allocation for Regulation Compliance
NOAA Fisheries
Industry: Environment
Application: Estimating effects of dams on Atlantic salmon population dynamics
Pantektor AB
Industry: Construction
Application: Fire Risk Mitigation
Pareto Solutions
Industry: Government
Application: Budget Projection
Patrick Engineering
Industry: Construction
Application: Cost and Schedule Risk Analysis
RD&I Consulting
Industry: Construction
Application: Fehmarn Belt Fixed Link
Pellegrino & Associates
Industry: Finance
Application: Intellectual Property Valuation
Petrobras
Industry: Energy
Application: Exploration & Production
Preformed Line Products
Industry: Manufacturing
Application: Tolerance Stacking
ProjectPMO
Industry: Aerospace
Application: Schedule and Cost Risk, Project Management
Post Danmark / PricewaterhouseCoopers
Industry: Government
Application: Insurance Premium Reduction
Purdue University
Industry: Environment, Government
Application: Cost-benefit analysis of biofuel production under two government policies
RisqWorx
Industry: Property
Application: Calculating investment risk and ROI
Royal Veterinary College
Industry: Medical
Application: Disease Prevention
RoseCap
Industry: Finance/Banking
Application: Valuation of Direct Investment
Rudd Asset Management (RAM)
Industry: Energy
Application: Waste disposal and renewable energy
Scottsdale Insurance Company
Industry: Insurance
Application: Comparing commercial properties; RAROC
Shanghai Food and Drug Administration
Industry: Government
Application: Food safety, monitoring contaminants
Slovak Rail Company
Industry: Transportation
Application: Capital Investment
Society of Actuaries/
Casualty Actuary Society

Industry: Insurance/Reinsurance
Application: Pension and Insurance Planning
Solis Financial Forensics LLC
Industry: Financial Forensics
Application: Projecting Economic Damages for Attorneys Involved in Complex Lawsuits.
Solvĕre
Industry: Transportation
Application: Transportation Infrastructure
Swinburne University of Technology
Industry: Academic
Application: Venture Capital Management
SzigmaSzervíz Ltd
Industry: Manufacturing
Application: Project Management
Technical University of Denmark
Industry: Academic
Application: Transportation research
Thales Group
Industry: Manufacturing
Application: Market Feasibility
Tioga Energy
Industry: Energy
Application: Solar energy savings
Transelectrica
Industry: Power
Application: Measuring and Mitigating Open Market Risk
Transae/Réseau Ferré de France
Industry: Transportation
Application: PPP rail project financing
Transnet
Industry: Transportation
Application: Freight Transport
Tulane University
Industry: Academic
Application: Food Safety
UK Ministry of Defence
Industry: Defence
Application: Project Management
University of Arkansas
Industry:Agriculture
Application: Analyzing Hybrid Varieties of Rice Crops
University of Buenos Aires
Industry: Agriculture
Application: Agricultural Investment
University of California, Berkeley
Industry: Environment
Application: Modeling extinction risk for Endangered Species
University Melbourne
Industry: Academic / Agriculture
Application: Forecasting Dairy Operating Profits
University of New Brunswick
Industry: Academic / Agriculture
Application: Reducing Environmental Impact of Commercial Aquaculture
University of Pennsylvania
Industry: Academic
Application: Organizational Dynamics
University of Texas Southwestern Medical Center
Industry: Health
Application: Evaluating kidney function for organ transplant
University of Tasmania
Industry: Agriculture/Aquaculture
Application: Evaluating production strategies for salmon farming
University of Tokyo
Industry: Agriculture
Application: Food safety, detection of BSE
University Of Victoria
Industry: Academic
Application: Lifetime Excess Cancer Risk
University of Witwatersrand
Industry: Academic
Application: Mining Engineering
US Army Materiel Systems Analysis Activity (AMSAA)
Industry: Government / Defense
Application: Schedule and Cost Risk for Acquisitions
Value Management Strategies, Inc.
Industry: Government, Manufacturing
Application: Project management, cost estimation, event risk
Virginia Commonwealth University
Industry: Academic
Application: Value at Risk Analysis
Visual Reporting / Danish Government / Agency for Digitisation
Industry: Government, IT
Application: Risk assessment of major IT projects
WEnergy Global
Industry: Energy
Application: Return on Investment
Wright Homes
Industry: Construction
Application: Real Estate Development
World Aquatic Veterinary Medical Association (WAVMA)
Industry: Environment
Application: Aquaculture and biosecurity

SEE ALSO: INDUSTRY MODELS
» Example Models

In DecisionTools Suite:
Aspinall & Associates
Industry: Environment
Application: Disaster Planning
Enex
Industry: Energy
Application: Geothermal Power Plant Equipment Procurement
Logion BV
Industry: Transportation
Application: Transportation, Distribution, and Inventory Management
London Business School /
Novartis Pharmaceutical

Industry: Financing/Banking
Application: Portfolio Management
Triangle Economic Research
Industry: Environment
Application: Pollution Cleanup
Procter & Gamble
Industry: Finance
Application: Production Siting, New Product Analysis, Exchange Rate Analysis, Real Options
World Conservation Union
Industry: Environment
Application: Endangered Species Protection

In @RISK Developer Kit:
London Underground / Istria
Industry: Transportation
Application: Transportation Safety and Investments

In Evolver:
Mettler Consulting
Industry: Insurance/Reinsurance
Application: Enterprise Resource Planning


Louisiana Department of Health Uses @RISK to Prepare Hospitals for a Hurricane Strike

Summary
The Louisiana Department of Health (LDH) provides medical, preventative, and rehabilitative services for all the state’s 4.6 million citizens. Due to the significant impact of hurricanes on the region every year, the LDH must maintain plans for the emergency evacuation of entire hospitals based in the most populated portion of the state, to alternative, out-of-state facilities. However, this is a complex undertaking that requires the cooperation - and funding - of several government agencies. LDH worked with Palisade’s Custom Development team to build a risk analysis model with a custom interface, based in @RISK. The customized model incorporates the expanding number of uncertain and unknown variables, and subsequently enables the state to get the federal support it needs in the event of an emergency of this size.

Louisiana is a "Wet Lab" for Emergency Preparedness
Due in part to the significant impact of hurricane season on the Gulf Coast of the U.S., Louisiana is considered a “wet lab” for emergency preparedness. As part of its annual preparations, the State creates and maintains plans that involve the full coastal evacuation of entire hospitals and nursing homes in Southeastern Louisiana - which is highly populated, has a significant medical infrastructure and is particularly vulnerable to hurricanes. As Louisiana doesn’t have enough capacity for an emergency surge of patients in the northern part of the state, most evacuees need to be transported to the neighboring states of Arkansas, Oklahoma, and Tennessee. The only way for the State to accomplish an evacuation of this size is by partnering with the National Disaster Medical System (NDMS) and the U.S. Military Transportation Command (US TRANSCOM), which can provide the necessary aircraft, crews and support personnel to get patients safely to the receiving hospitals. “Ground transportation isn’t an option as there aren’t enough ambulances to move such a high number of patients such a long distance before a hurricane makes landfall,” explained Henry Yennie, Emergency Preparedness Program Monitor for the Louisiana Department of Health (LDH). “The only reasonable way to evacuate patients to out-of-state hospitals is by air, and the only viable source for aircraft that can carry large numbers of patients is the military and national guard.”

Every year, the LDH provides its federal partners with a Health and Medical Response Report that outlines the State’s Emergency Support Needs for the next hurricane season. The plan outlines the needs of Louisiana’s “at risk” patient population in the event of a large, coastal hurricane strike, and provides the government organizations with a logical, analytical and reasonable explanation for the resource requests. Palisade’s @RISK software plays a critical part in both estimating the need for and justifying these resources. “It helps us make the case for our plan and how it is constructed, in case someone questions our data or methodology,” said Yennie.

Modeling Resource Requirements for Emergency Hospital Evacuations
Each federal partner wants to know how many patients will need to be moved out of the State, before they agree to providing the requested resources. As it’s not possible to provide an accurate number prior to an emergency, the LDH needs a way to provide a realistic range of numbers, including the supporting probabilities. In addition, they need a solution that supports the State’s commitment to minimizing the unnecessary movement of critically ill and electrically dependent patients. As the unpredictability of a storm’s landfall makes it extremely difficult to accurately predict if, and when these fragile patients should be moved, they need a model that provides them with a blend of different EVAC (evacuation) and SiP (shelter in place) scenarios. “Palisade built a sophisticated model for us that allows us to take the configuration data and construct a model, quickly and easily,” said Yennie. “@RISK is a really valuable tool that lets us perform up to 10 different scenarios based on patient numbers and other data, plus it has an interface that makes it ‘idiot proof’ for us.”

Working with Palisade Custom Development to Create a User-Friendly Model
Due to the complexity of the situation, LDH worked with Palisade’s Custom Development team to create the model. “Using spreadsheets only, it was very easy to make mistakes that would have cascading error effects in the model. We needed the VBA UIs in some areas to prevent this type of error, and make configuring the model for specific situations more intuitive,” explained Yennie. “The Palisade team built several VBA screens that allowed us to easily configure the model without making errors that impacted other parts of the model. It eliminated the ‘rabbit hole’ work required to find out where the original error occurred, for example ‘turning off’ an airport or taking certain aircraft out of stock.”

“Palisade was extremely responsive, completed the work quickly, and unlike a lot of developers, they provided user-friendly documentation that makes end-user training much easier. We still refer to it prior to every event to ensure our entire team is on the same page, and it has proven extremely helpful in explaining with the model is doing to senior leadership,” added Yennie.

@RISK Simulates the Evacuation of Multiple Patient Populations
To create a new model, the LDH begins by identifying four different types of patients who might need to be evacuated: psychiatric patients, burn patients, pediatric/neonates/high-risk mothers, and general medical / surgical and Intensive Care Unit (ICU) patients. They consider four possible destinations for these patients: in-state hospitals with pediatric and obstetrics capabilities, in-state hospitals with available psychiatric beds, in-state hospitals with available burn beds, and out-of-state hospitals through the National Disaster Medical System (NDMS) network. They also consider all possible methods of patient transportation including bus, paratransit, ground and air ambulances, as well as military air assets such as C-130 heavy-lift transport aircraft. “In addition to the types of planes we have access to and the number of patients who can be carried on each plane, we have to identify the cycle time between flights, how many turns a single plane can make, and the impact if a plane breaks down,” added Yennie. “All of these are variables that impact our final results and recommendations.”

The LDH uses Bernoulli distributions, which are special two-point distributions used to determine the probability of two possible outcomes, to model whether or not a flight will occur. They use three-point Pert distributions to model minimum, maximum and mode (most common) cycle times and patient estimates. Palisade’s @RISK also allows them to create high-resolution graphics to present the output distributions from their simulations in a way that easily illustrates the risks. LDH uses tornado graphs, which help them identify which variables are having the biggest impact on each scenario, and what they can do to mitigate the risks.

@RISK Used for Planning Before and During an Actual Hurricane
The LDH uses @RISK for their annual planning activities, as well as during an actual hurricane. According to Yennie, “@RISK gives us benchmarks we can measure against actual patient movements, then lets us know the probabilities of success. By providing us with this estimate of success throughout the process, we’re able to figure out what we can do to fix it right away.”

In the past two years, LDH has used @RISK to justify the need for significant changes to the evacuation plan, largely due to the problem of critical care patients. TRANSCOM medical guidelines define critical care patients more expansively than hospitals. As a result, the capability for transporting these types of patients was shifted to the national ambulance provider, AMR, contracted through FEMA. AMR is now providing the air assets to move critical care patients. Palisade’s @RISK software was used to not only provide a valid basis for the Louisiana request, but also informed how many flights would be necessary to meet the expected demand. Yennie said, “We were able to accurately model the correct demand for the critical care patients and match that to the capabilities of the FEMA contractor. The result was a realization by FEMA that an activation of that contract for the zone containing Louisiana would require surplus capabilities available from other zones.”

“I’ve used other simulation software over the years and none has come close to the usability of @RISK. It makes it really easy for a person who doesn’t have a PhD in statistics to build an accurate model of a real-world situation that has an impact,” concluded Yennie.

» @RISK
» Louisiana Department of Health (LDH)

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