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Las Vegas an Overwhelming
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@RISK Modeling Tips
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@RISK and Hurricane Call Centers
As the phones began ringing, center managers realized that staffing for the call center was not synchronized with the volume of calls or the timing of them. Therefore, Henry Yennie, a program manager in the state’s Department of Health and Hospitals, began to develop an @RISK model for family assistance call load that could provide reasonable predictions of necessary capacity, staffing and budget parameters for organizers of future assistance centers.
Yennie identified the “major drivers” of load—timing and duration of calls, number of deaths, number of initial calls that became full telephone interviews, and so forth. As the model was refined, his predictions of call volume became more accurate, and he was able to make better staffing decisions. Said Yennie: “@RISK’s ability to handle highly uncertain information made it invaluable in coping with a disaster like Katrina.”
Palisade Risk Conference Las Vegas an Overwhelming Success
The Conference offered something for virtually everyone, regardless of industry sector. Professionals attended from industries such as utilities, oil and gas, engineering and construction, aerospace, manufacturing, finance, and many more. In response to growing demand, a new track of sessions was added this year, bringing the total to four tracks and nearly 50 separate sessions.
“We saw and discussed methods that directly apply to our
“First class! One of the better seminars I have gone to.
“Excellent conference. If there are numbers that vary, you
@RISK and Project Cost
Using @RISK for ongoing risk quantification on individual projects allows Halcrow to monitor progress against original budget incentive thresholds and potentially allows the Environment Agency to make strategic decisions on allocating funds across the whole portfolio of Flood Defense projects.
Tim Wells, project manager at Halcrow, comments: “Halcrow’s line of business makes robust risk analysis an essential part of our daily lives, and the Environment Agency’s core principles reinforce this way of working. Palisade and @RISK provide us with a flexible product that is easy to use, as a result of which we are able to maximize our own revenues on projects. In addition they ensure that the Environment Agency is accountable to the UK public by putting its funds to the most effective use to guard against flooding.”
A good introduction to supply chain management is the bullwhip effect to illustrate what arises from the traditional disjointed relationship between a manufacturer and its suppliers, and between these suppliers and their underlying component suppliers. As will be seen, this leads to excessive inventory levels. Closer collaboration and coordination between buyers (factories) and sellers (suppliers) can achieve considerable savings by reducing inventory carrying costs throughout the system.
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