Royal Veterinary College uses @RISK
to Combat Avian Flu
Founded in 1792, the Royal Veterinary College is one of the University of London's 18 independent colleges, and is the UK's longest-established vet school. The RVC's research is divided into five themes: musculoskeletal biology; reproduction, genes and development; cardiovascular and inflammation biology; animal welfare: and infection and immunity. The Population Biology and Disease Control research group operates within the latter. @RISK plays a critical role in the RVC's work.

The RVC's epidemiology skills enable it to identify and understand the risks associated with specific diseases. However, in order to determine appropriate activity to prevent infections spreading, the RVC must quantify the risks it has outlined. To do this it uses @RISK software from Palisade. Excel-compatible, @RISK uses Monte Carlo analysis to show all potential scenarios, as well as the likelihood that each will occur, thereby providing the decision-maker with the most complete picture possible.

Professor Dirk Pfeiffer, leader of the RVC's Population Biology and Disease Control research group, explains: “Some species of wild birds don't mix with others and therefore pose less threat of spreading the disease. Equally, different breeds of birds move round at different times of year, which has a bearing on whether they will come into contact with birds that are potentially infected. In-depth knowledge of factors like these enables us to take a rational approach to situations that, at a surface level, have the potential to spiral out of control.”

Professor Pfeiffer, who has used @RISK for many years, concludes: “Palisade is the Microsoft of risk analysis software and is therefore the only real solution for the RVC for this particular question. We deal with issues that have significant health risks to animals and humans, as well as economic impact, and it is critical therefore that our supporting software is powerful, sophisticated and flexible, in addition to producing highly accurate figures. @RISK ensures that we provide the various bodies that depend on our knowledge and experience with the best possible solution available to them.”

» Read more here
» More about Prof. Pfeiffer, his courses, and publications
 

Palisade Roadshows on Strategic Risk
Taking the show on the road!

Palisade is offering a free seminar series on the quantification and analysis of risk in a variety of industries. Please join us for this unique opportunity to learn powerful risk and decision analysis techniques that you can immediately apply to your work. Monte Carlo simulation, sensitivity analysis, and optimization are among the techniques that will be demonstrated, using @RISK and DecisionTools Suite software from Palisade.

» See the schedule, and sign up today!
 

Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2011, 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:

International:

There are three easy ways to get the DecisionTools Suite for your students:

Get DecisionTools Suite 5.7.1 for your course by contacting:

Palisade Academic Sales    
800-432-7475 / 607-277-8000
academic@palisade.com

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.

Modeling Managerial Flexibility
Excerpted from Decision Making Under Uncertainty with RISKOptimizer by Wayne Winston, published by Palisade Corporation

Many manufacturing companies are trying to decide whether they should invest in more flexible machinery. We describe the degree of flexibility of a machine by the number of products the machine can make. A more flexible machine usually costs more money, but if you have flexible machines you are less vulnerable to demand uncertainty. This is because the flexible machine can "pick up the slack" if demand for one product is unexpectedly high and demand for another product is unexpectedly low. The following example shows how to combine RISKOptimizer and Solver to determine the optimal mix of flexible and inflexible machinery.

 Download the example spreadsheet and
    step-by-step instructions

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.

Practical Reliability Engineering,
5th Edition
by Patrick O'Connor, Andre Kleyner

This book provides a comprehensive, up-to-date coverage of fundamental concepts, models, methods and practices of modern reliability engineering. It is intended for a variety of readers ranging from college students to seasoned engineering professionals involved in design, development, manufacture and maintenance of reliable engineering products and systems.

The book’s emphasis is on practical aspects of engineering, with a balanced mixture of reliability theory and applications. The topics covered include the mathematics of reliability, physics of failure, graphical and software methods of failure data analysis, reliability prediction and modelling, design for reliability and safety, accelerated testing, management and economics of reliability programmes.

Reliability and safety aspects of mechanical, electronic and software engineering are also described. The new edition adds: Software applications of statistical methods, including probability plotting and a wider use of common software tools such as Microsoft Excel.

Expanded description and applications of Monte Carlo simulation methods, in a new chapter using @RISK and DecisionTools Suite.

» Learn more from the publisher
» View 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.

A Case Study of Fall versus Spring Calving
for the Rocky Mountain West
By Brian A. Strauch, Dannele E. Peck, and Larry J. Held
University of Wyoming
 
Feeder cattle prices are generally lower in the fall, when the volume of calves for sale is highest. Most ranches in the Rocky Mountains calve in March or April, which results in the sale of weaned calves in October, when feeder cattle prices tend to be lowest. This study was initiated with the idea that a rancher might improve profitability by switching to fall calving, which would enable them to sell calves in April at a higher price. In this study, fall calving generated both higher and less variable profit, but mainly because of cost savings.

 Read the full paper here

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.

Portfolio Management using @RISK
To be presented by Matt Rosenberg, RoseCap Investment Advisors
September 20, 2012, 11:00am EDT (Eastern Daylight Time)

This free live webcast is intended to show the benefits of using Monte Carlo simulation in the processes of portfolio construction, and portfolio management for individuals, families and institutional investors. Topics will include a general overview of the portfolio management processes, as well as specific examples showing the use of @RISK for risk management within these processes.

» Read more details about the webcast and register here
» 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

Story to Share?
We are always on the lookout for interesting content to add to our academic newsletter. Many of our academic users are involved in projects using our software which might have wide appeal and be of general interest. If you have a story to share, send it to: academic@palisade.com and we’ll consider it for an upcoming edition!
 

» Royal Veterinary College
   uses @RISK to Combat
   Avian Flu

» Palisade Roadshows on
   Strategic Risk

» Recent School Adoptions

» Licensing Options

» Teaching Tips &
   Examples
   Modeling Managerial
   Flexibility

» Textbook of the Month
   Practical Reliability
   Engineering, 5th Edition

» Featured White Paper
   A Case Study of Fall versus
   Spring Calving for the
   Rocky Mountain West

» Academic Live Webcast
   Portfolio Management
   using @RISK

» About Palisade and the
   DecisionTools Suite

» Story to Share?

Industry experts present real-world case studies, Palisade consultants deliver workshops and training, plus sneak previews of new software. Don't miss the opportunity to sign up for an Expert Session, in which you can have an expert review your model and answer questions, one-on-one, at no charge!
» London: 18-19 April
» Sydney: 29-30 May
» Las Vegas: 7-8 Nov

» Training Seminars
Asia-Pacific
Auckland: 18-19 July
Brisbane: 8-9 August
Singapore: 21-22 August
Sydney: 9-10 October

Brazil
Rio de Janeiro, 7-8 de agosto
São Paulo, 22-23 de agosto
Belo Horizonte,
  19-21 de setembro
Rio de Janeiro,
  26-28 de setembro
Brasilia, 3-5 de outubro
Vitória, 24-25 de outubro

EMEA
London: 31 July - 1 August
München: 4-5 September
London: 18-20 September
Rome: 25-26 September
Amsterdam: 3-4 October
Reykjavik: 18-19 October

India
Bangalore: 27-28 August
Mumbai: 30-31 August

Latin America
México, D.F.:
  30 de julio al 3 de agosto
San José: 27-31 de agosto
Bogotá: 4-6 de septiembre
Panamá: 17-19 de octubre

North America
San Francisco: 14-15 August
Calgary: 14-16 August
Charlotte: 21-22 August
Hartford: 4-5 September
Denver: 11-13 September
Montreal: 18-20 September 

» Live Web Training
Decision-Making and
Quantitative Risk Analysis
using @RISK
PART II
26-27 July, 1pm-5pm ET

Project Risk Assessment
using @RISK
20 August, 9am-1pm ET

Decision-Making and
Quantitative Risk Analysis
using the DecisionTools Suite
PART I
6-7 September, 9am-1pm ET

PART II
17-18 September, 9am-1pm ET
 

» Live Webcasts
These complimentary sessions are 30-60 minutes, held via web conference. See industry case studies, software demos, applications, and more.

Portfolio Management
using @RISK
September 20, 11:00am ET
Matt Rosenberg
RoseCap Investment Advisors
» Register

Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!


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