» PwC Recommends @RISK
to Reduce Insurance Costs
» @RISK 5.7.1 and
DecisionTools Suite 5.7.1
» Palisade Risk Conference
Las Vegas, November 10-11
@RISK Modeling Tips
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Decision-Making and Quantitative Risk Analysis using @RISK
Decision-Making and Quantitative Risk Analysis using the DecisionTools Suite
Project Risk Assessment Using @RISK for Project
Frank Lyhne Hansen, PwC consultant during the project, explained: “Post Denmark had been meticulous in collecting data relating to every eventuality against which it must insure itself. @RISK extracts true value from this information because it quantifies the risk faced by the organization in a measurable format. The technical sophistication of @RISK enables models to be built that reflect complex scenarios and are straightforward for users to deploy and interpret.”
We are pleased to announce the release of @RISK 5.7.1 and DecisionTools Suite 5.7.1, available now for immediate download. The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs, and 5.7.1 is an important maintenance release that provides valuable improvements and fixes. At Palisade, we strive to continually improve the tools you rely on for optimal decision-making, so be sure to keep your software current.
As with version 5.7.0, version 5.7.1 is fully compatible with 64-bit Excel 2010, as well as 32-bit versions of Excel. 64-bit technology enables Excel and DecisionTools products to access much more computer memory than ever before. This allows for vastly larger models and greater computational power.
Present Your Case Study in Las VegasIf you have an interesting application of Palisade software which you would like to present, please send a short abstract to Jami Adams, at firstname.lastname@example.org. The closing date for abstracts to be submitted is August 15, 2011. If you would like to submit an abstract but need more time, please let us know.
All presenters attend the conference and social events at no charge.
Most recently, RisqWorx has been helping clients in property/real estate make more informed decisions about property acquisitions. RisqWorx’s @RISK model allows all the variables associated with property portfolios to be incorporated into the equation, such as the initial cost of the building, the construction and materials costs, the length of the building project, and much more. The complex calculations are then presented to board members of property companies in easy-to-understand Monte Carlo graphs. As a result of this due diligence, they are able to make an informed decision about which property purchases will make sound investments for their portfolio.
“@RISK is a highly-prized software. Organizations can realize value from vast amounts of previously unused data which can now be used as inputs to the @RISK model, the outcomes of which will inform their decision making and drive profits.” -Alan Cartmell, RisqWorx
@RISK allows you to:
With @RISK, all uncertain values and probabilities for branches in your decision trees, and supporting spreadsheet models, can be defined with distribution functions. When a branch from a decision or chance node has an uncertain value, for example, this value can be described by an @RISK distribution function. During a normal decision analysis, the expected value of the distribution function will be used as the value for the branch. The expected value for a path in the tree will be calculated using this value.
However, when a simulation is run using @RISK, a sample will be drawn from each distribution function during each iteration of the simulation. The value of the decision tree, and its nodes, will then be recalculated using the new set of samples and the results recorded by @RISK. A range of possible values will then be displayed for the decision tree. Instead of seeing a risk profile with a discrete set of possible outcomes and probabilities, a continuous distribution of possible outcomes is generated by @RISK. You can see the chance of any result occurring.
In decision trees, chance events must be described in terms of discrete outcomes (a chance node with a finite number of outcome branches). But, in real life, many uncertain events are continuous, meaning that any value between a minimum and maximum can occur. Using @RISK with PrecisionTree, makes modeling continuous events easier, using distribution functions. Also, @RISK functions can make your decision tree smaller and easier to understand!
Presented by Chris Marlow,
Presented by Doug Oldfield,
Use of Simulation Models in Pricing Health
Einführung zur Risiko- & Entscheidungsanalyse
Introducción al análisis de riesgo y decisión con
Introduction a l’analyse des Risques et décisions
Modeling Insurance Risk & Decisions using the DecisionTools Suite
Project Management Risk Modeling Methods
Modeling Oil & Gas Risk Problems using the DecisionTools Suite
Better Property Investment Decisions with Risk Analysis Software
Call and Put as Fast as You Can
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