@RISK Modeling Tips
Revay and Associates uses @RISK to Lead Alberta Airport Enterprise Risk Assessment
However, Fort McMurray Airport is the gateway to Canada’s Athabasca Oilsands, the second-largest oil deposit in the world after Saudi Arabia. This airport faces a number of unique challenges related to servicing one of the largest industrial construction projects in the world today. The unique challenges of the Fort McMurray airport include: unprecedented passenger growth, staffing constraints, infrastructure constraints, pressures from various stakeholder groups, the introduction of daily international flights, shifts in politics and even risks posed by the potential development of oil reserves beneath the airport site. Thus, the Fort McMurray Airport Authority (FMAA) turned to Revay and Associates Ltd. to assess the potential risks they face as an organization as they try to keep pace with the growth of the region, and Revay turned to @RISK to help with this analysis.
Lufthansa Wins Prestigious Award for
Last April, Lufthansa received an award from the International Controllers Association for building a risk control tool which aided in planning and risk management of aviation business trends. @RISK played a key role in Lufthansa's work, and Palisade is proud to have contributed to this award-winning work.
Presenters include Deloitte Risk Services, Royal HaskoningDHV, LEGO Group, DSM, Saudi Aramco, Kuwait Petroleum
In their ninth year, the Palisade Risk Conferences have become “must attend” events for quantitative risk and decision analysis professionals. The schedules are set for Copenhagen, Amsterdam, and Dubai. Each day promises a full slate of intensive software training by Palisade trainers, in-depth looks at risk modelling from industry experts, networking opportunties, and the chance to review your own model with Palisade consultants.
View the schedules for upcoming Risk Conferences:
It was a great conference that was very well
Timothy J. Havranek, MBA, PMP, Manager -
Based on RisqWorx’s previous successes, contacts in the property sector believed the @RISK tool could play a vital role in their operation. Common practice was to use the following simple calculation to determine whether to buy a particular property:
Profit = sale price – (purchase price + renovation/alteration/building costs)
However, this did not take into account variables that could substantially change, and potentially erode, the profit margins. RisqWorx’s @RISK model allows all the variables associated with property portfolios to be incorporated into the equation. These include the initial cost of the building, the construction and materials costs, the length of the building project, professional fees, interest rates and the sale price or rental yield (which is affected by the general economic climate and the commercial property market). As a result, they are able to make an informed decision about which property purchases will make sound investments for their portfolio.
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