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under utilised for
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The first 2010 Palisade Risk Conference will take place in the Institute of Directors in London’s Pall Mall, and will cover a wide variety of innovative approaches to risk and decision analysis.
» Latin America
» Decision-Making and Quantitative Risk Analysis using the DecisionTools Suite
» Project Risk Assessment Using @RISK for Project
Software training will also be included, covering new approaches to the problems you face every day. You will see how new versions of @RISK, PrecisionTree, RISKOptimizer, TopRank, NeuralTools, StatTools, and other Palisade software tools work together to give you the most complete picture possible in your situation. Top-level consultants, industry practitioners, and Palisade experts will present to an audience of professionals from across the spectrum of business and research.
Palisade Blog Headlines
Quantitative risk assessment under utilised for
The job of the Abu Dhabi Water & Electricity Company (ADWEC) is to guarantee the supply and security of water and electricity across the Emirate of Abu Dhabi, part of the United Arab Emirates. Abu Dhabi relies almost completely on desalinated saltwater for its potable water requirements, and because the desalination process is challenging in terms of operation, costs, and environmental impact, it is important that ADWEC's forecasts for water and electricity demand are as accurate as possible. As a result of using @RISK to assist with its forecasting, planning and management strategies, ADWEC has been able to consistently meet with almost complete accuracy and a high degree of confidence the Abu Dhabi Emirate water demand forecasts.
When performing a cost risk analysis study, one of the key results is the amount of extra monetary resources that is to be added to the project cost baseline to guarantee that the budget is not exceeded at a certain confidence level. Good project risk management strategies must take this into account. After defining the uncertain variables and risk events that affect the cost performance of the project, we can run a Monte Carlo simulation with @RISK to find out what the range of the total project cost is. Simulation results can help us to explain the risk exposure that we have in the total cost of the project. The most popular statistics are the mean (average cost), the most likely cost, and the 10th and 90th percentiles.
The Montana Department of Agriculture has developed decision tools to help farmers evaluate opportunities in alternative crops and compare the returns of different cropping plans.
A new technique in neural network technology trains on visual images to assure accuracy in package labeling.
Analysts at the American Enterprise Institute offer a method using Monte Carlo simulation and projected market returns to predict the long-termadequacy of a public pension fund.
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