Integrating Palisade Tools into the
Classroom – Complimentary Webcast
Interested in learning about using Palisade software in the classroom?
Join Jaime Weisberg, Regional Sales Manager, and Michael Corbett, Academic Sales Manager for this live webcast to learn more about applying @RISK and the DecisionTools Suite to risk and decision analysis concepts in the classroom.
Palisade's DecisionTools Suite includes 7 software programs that can be used by a wide variety of departments and individuals within any organization, to better assess risk and make well-informed decisions.
On June 2nd at 11 am ET, see the software in action during the live demo, followed by a discussion of Palisade’s affordable and flexible academic licensing options. See why last year alone over 800 universities adopted the DecisionTools Suite for their coursework.
» Register Here
The Palisade Risk Management
Roadshow: Boston, June 3
Featuring Pharmaceutical and Other Business Applications
JOIN US, AT NO CHARGE, FOR THIS ONE-DAY FORUM
We are pleased to announce The Palisade Risk Management Roadshow, to be held on June 3, 2011 at the Radisson Hotel, Boston. As the first event of its kind from Palisade, we are offering admission at no charge. Join decision-makers and practitioners from academia and industry at this exciting and informative one-day event. Programming will include presentations and discussions on topics such as decision making in the field of biotechnology, optimizing investments, and using simulation to value new projects. Case studies and analysis using Palisade software @RISK and the DecisionTools Suite will be presented.
» See the schedule
» Register now
@RISK is a wonderful tool which helps
business people make accurate, efficient
financial projections, as well as accurately
establish which risks their investments are
Professor Gabriel Rovayo
Instituto de Desarrollo Empresarial,
Guayaquil - Quito, Ecuador
Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2010, over 800 universities worldwide adopted the DecisionTools Suite. Professors in business, engineering, OR, and other fields keep their students on the cutting edge by teaching the latest analytical techniques from Palisade. Some major schools with programs and courses that standardized on the DecisionTools Suite last month include:
US and Canada:
||Coastal Carolina University
Colorado School of Mines
Embry-Riddle Aeronautical University
Harvard School of Public Health
Michigan State University
University of Texas - Austin
University of Virginia
University of Washington
||City University London (UK)
Georg-August-Universitaet Goettingen (Germany)
London School of Economics & Political Science (UK)
Universidad ESAN (Peru)
Universidade de Coimbra - FE (Portugal)
Universita de Brescia (Italy)
Yeditepe University (Turkey)
Palisade is happy to showcase professors who implement our tools into their teaching. This month we would like to introduce you to Dr. Samuel Frimpong from the Missouri University of Science and Technology.
Dr. Samuel Frimpong
Missouri University of Science and Technology
For their capstone design projects, undergraduate mining engineering students at Missouri University of Science and Technology have to develop “real-world” solutions. So, Dr. Samuel Frimpong provides his students with real-world tools, including Palisade’s @RISK software.
Similarly, he uses @RISK to help graduate students undertake research projects in geology and geological engineering, mining and petroleum engineering.
Dr. Frimpong says the software helps students with risk modeling for everything from investment to production. It also helps them understand stochastic processes – how random events can affect engineering phenomena over time.
“@RISK offers a comprehensive package for simulating stochastic processes defined by parametric probability and statistics,” says Dr. Frimpong, who has been teaching at the Rolla, Mo.-based university for more than 6 years. “The Excel environment also makes @RISK user-friendly.”
He also praised the software’s “efficient pre-simulation definition of input variables and post-simulation results.”
Dr. Frimpong says he has been using @RISK since his time at University of Alberta, Edmonton, Canada, where he completed his PhD in 1992 and later served as an associate professor of mining engineering.
A native of Ghana, Dr. Frimpong holds several patents in the area of oil sands extraction and is a noted expert in mine design, mineral economics, modeling methods and operations research.
» Click here for more information on Dr. Frimpong
There are three easy ways to get the DecisionTools Suite for your students:
Course Licenses available from Palisade. These are economical, annually renewing bulk licenses for both
network lab and laptop installation.
» Learn more
Student Versions from Palisade. These are 12-month versions available for purchase individually by students through either the Palisade web site or the school store.
» Learn more
Textbook Editions available bundled with textbooks.
These are time- and model-limited licenses.
» Learn more
Get DecisionTools Suite 5.7 for your course by contacting:
Palisade Academic Sales
800-432-7475 / 607-277-8000
Your software is just great. Every year I give
a course in environmental risk assessment
at Rhodes University. The course attendants
are all always impressed with @RISK.
If I ever ran short on environmental
consulting work (my business), I would
run monthly courses on risk assessment
focused on your software.
Dr. Mike Mentis, Visiting Professor in
Environmental Science, Rhodes University
The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way. Each month we feature an example or tip illustrating how students can gain “real world” benefits by implementing quantitative analysis.
Manpower Scheduling Under Uncertainty
Excerpted from Decision Making Under Uncertainty with RISKOptimizer by Wayne Winston, published by Palisade Corporation
Banks, retailers, phone companies, fast-food restaurants and many other organizations must schedule a workforce in the face of uncertain manpower requirements. RISKOptimizer makes it easy to determine a schedule that can handle the uncertain demand that we face in today's unpredictable world.
Download sample chapter and spreadsheet
The DecisionTools Suite is included in dozens of major textbooks, and is a key component of more titles every year. Authors use the DecisionTools Suite to illustrate key analytical concepts and build examples demonstrating the value of quantitative techniques in business, OR, and engineering.
Data Analysis and Decision Making
with Microsoft Excel
By Dr. Chris Albright, Wayne Winston, and Christopher Zappe
Master data analysis, modeling, and spreadsheet use. With a teach-by-example approach, student-friendly writing style, and complete Excel integration, this business statistics text provides you with the tools you need to succeed. Margin notes, boxed-in definitions and formulas in the text, enhanced explanations in the text itself, and stated objectives for the examples found throughout the text make studying easy. Problem sets and cases using StatTools provide realistic examples that enable you to see the relevance of the material to your future as a business leader. @RISK, PrecisionTree, and StatTools are all covered.
The 4th edition has been updated for Excel 2007 and 2010.
» Learn more from the publisher
» See a list of books bundled with Palisade software
Professors, PhD candidates, practitioners and others often use the DecisionTools Suite as part of a complex analysis to address important problems. These analyses are published in white papers. Each month we will feature a different academic white paper addressing a wide range of issues.
Modeling Financial Scenarios:
A Framework for the Actuarial Profession
By Kevin C. Ahlgrim, Illinois State University, Stephen P. D’Arcy, University of Illinois at Urbana-Champaign and Richard W. Gorvett, University of Illinois at Urbana-Champaign in Proceedings Of The Casualty Actuarial Society Volume 92
This paper summarizes the research project on Modeling of Economic Series Coordinated with Interest Rate Scenarios initiated by the joint request for proposals by the Casualty Actuarial Society and the Society of Actuaries. The project involved the construction of a financial scenario model that simulates a variety of economic variables over a 50 year period. The variables projected by this model include interest rates, inflation, equity returns, dividend yields, real estate returns, and unemployment rates. This paper contains a description of the key issues involved in modeling these series, a review of the primary literature in this area, an explanation of parameter selection issues, and an illustration of the model’s output. The paper is intended to serve as a practical guide to understanding the financial scenario model in order to facilitate the use of this model for such actuarial applications as Dynamic Financial Analysis, development of solvency margins, cash flow testing, operational planning, and other financial analyses of insurer operations.
View the full paper
Professors using Palisade software share examples and teaching tips they've used in class in Palisade's Academic Webcast series. Register online at no charge.
Forestalling Foreclosure: Using @RISK
to Analyze Debt Capacity and Find a
Strategic Alternative to Default
Presented by Steven Slezak, California Polytechnic State University
June 23, 2011, 1:00pm ET
This webcast illustrates how even a simple @RISK simulation can provide valuable insights into a complicated financial issue and lead to a strategic solution.
A medical center in rural California secured a 30-year mortgage from a lending agency backed by the U.S. Government. Combined annual principal and interest payments became a burden shortly after the loan was issued due to an unexpected decrease in the center’s net income, leading the borrower to suspend mortgage payments and the lender to begin the default process.
The parties to the loan requested FinEx Company, LLC, provide an analysis of the debt situation, with particular focus on the borrower’s debt capacity from 2010 through the maturity of the mortgage.
The study aimed to identify a minimum level of net income for the center to target, a level which would allow it to maintain sufficient debt capacity to pay off the mortgage. The study also looked at how changing the terms of the loan – interest rate and maturity – by refinancing might contribute a solution.
A simple Excel spreadsheet was used to determine target the minimum net income level need to support debt capacity for the mortgage at various points of time in the maturity of the mortgage. An uncomplicated @RISK analysis was then performed to determine the probability that the center would be able to meet that minimum net income level within the next 12 months, and to find out if refinancing would be a viable solution under the circumstances. The @RISK simulation helped to determine an optimal strategy.
» Register now
» See complete Webcast schedule
|The Academic Global Leader in
Risk and Decision Analysis
Palisade Corporation is the world’s leading provider of risk and decision analysis software and solutions. Founded in 1984, its products @RISK and the DecisionTools Suite are used by over 95% of the Fortune 100, in nearly every industry around the world. Palisade is headquartered in New York State, and has offices in London, Sydney, Rio de Janeiro, and Tokyo.
What is The DecisionTools Suite?
The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs. The Suite includes @RISK for Monte Carlo simulation, PrecisionTree for decision trees, and TopRank for “what if” sensitivity analysis. In addition, DecisionTools Suite comes with StatTools for statistical analysis and forecasting, NeuralTools for predictive neural networks, and Evolver and RISKOptimizer for optimization. All programs work together seamlessly, and all integrate completely with Microsoft Excel for ease of use and maximum flexibility.
The Suite is offered in three affordable and flexible licensing options for those in academia: Student Versions, Course Licenses and Full Academic Versions.
» Schools using Palisade software
» Textbooks using Palisade software
» Integrating Palisade
Tools into the Classroom
» The Palisade Risk
» Recent School Adoptions
Dr. Samuel Frimpong
Missouri University of
Science and Technology
» Licensing Options
» Teaching Tips &
» Textbook of the Month
Data Analysis and Decision
Making with Microsoft Excel
» Featured White Paper
A Framework for
the Actuarial Profession
» Academic Live Webcasts
» About Palisade and the
Click to chat live with
a sales representative
Industry experts present real-world case studies about innovative and interesting approaches to risk and decision analysis. Also, ever-popular workshops and training delivered by Palisade consultants, and sneak previews of new software.
» Amsterdam: 29-30 March
» Mexico City: 1-2 June
» Rio de Janiero: 14-15 Sept
» Las Vegas: 10-11 Nov
Palisade Risk Management Roadshow:
Join decision-makers and practitioners from pharmaceuticals, academia, and many other industries at this exciting and informative one-day event. Registration offered at no charge.
» Boston: June 3, 2011
These seminars are designed to show companies and individuals the benefits of using Palisade solutions – and will also show existing customers how the latest releases can add even more value to their business.
» Zurich: 19 May 2011
» Aberdeen: 25 May 2011
» Leeds: 26 May 2011
» Paris: 6 June 2011
» Marseille: 7 June 2011
» Trade Shows
Palisade will be attending the following trade shows in the coming months.
June 7th – 10th
June 19th – 23rd
PMI Global Congress 2011
October 22nd – October 25th
Dallas/Fort Worth, TX
October 30th – November 3rd
Colorado Convention Center
INFORMS Annual Meeting
November 13th – 16th
Charlotte Convention Center
DSI - Decision Sciences Inst
November 19th – 22nd
June 21st - 23rd
58th ISI Congress 2011
August 21st - 26th
» Training Seminars
Singapore: 24-26 May
Aukland: 30-31 May
Wellington: 2-3 June
Melbourne: 6-7 July
Sydney: 20-22 July
Brisbane: 24-25 August
EMEA & India
London: 24-25 May
Copenhagen: 20-21 June
Moscow: 23-24 June
London: 27-28 June
London: 2-4 August
London: 6-7 September
Den Hague: 27-29 September
Calgary: 7-9 June
Kansas City, MO: 6-7 July
Seattle, WA: 19-21 July
Mount Laurel, NJ: 27-28 July
Toronto: 2-3 August
Jersey City: 16-17 August
Denver: 13-15 September
Chicago: 27-28 September
» Live Web Training
Decision-Making and Quantitative Risk Analysis using @RISK
14-15 July, 1pm-5pm ET
10-11 August, 1pm-5pm ET
Decision-Making and Quantitative Risk Analysis using the DecisionTools Suite
31 May-1 June, 11am-3pm ET
22-23 Sept, 1pm-5pm ET
15-16 June, 11am-3pm ET
10-11 October, 1pm-5pm ET
Project Risk Assessment Using @RISK for Project
11 July, 11am-3pm ET
» Live Webcasts
These complimentary sessions are 30-60 minutes, held via web conference. See industry case studies, software demos, applications, and more.
Integrating Palisade tools
into the Classroom
June 2, 2011, 11:00am ET
Jaime Weisberg and
Using @RISK to Analyze Debt
and Find a Strategic
Alternative to Default
June 23, 2011, 1:00pm ET
Polytechnic State University
The Use of @RISK and
Economic Value Added
in Business Valuation
July 13, 2011, 10:00am ET
Economic Value Advisors
Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!
The complete risk and
decision analysis toolkit
The world's most widely
used risk analysis tool
» @RISK for Excel
» @RISK for Project
» @RISK for Six Sigma
Visual decision analysis
Sophisticated neural networks for spreadsheets
Advanced statistical analysis for spreadsheets
The Innovative Optimizer
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