Palisade Corporation
@RISK Drives DNV GL’s Risk Management Practice

In This Issue
What’s New
» @RISK Drives DNV GL’s Risk
   Management Practice

» Palisade Regional Risk
   Conferences

Case Study
» Danish Government Relies on
   @RISK for Major IT Projects

@RISK Modeling Tips
» Playing Craps with @RISK

Upcoming Webcasts
 

In This Issue
Subscribe to the
     Palisade blog


Subscribe to the
     email newsletter


Find us on Facebook


LinkedIn Connect on LinkedIn

 

2014 Palisade Risk Conferences
 
The 2014 Risk Conferences are "must attend" events for quantitative risk and decision analysis professionals. Join us for an intensive day of software training presented by Palisade trainers and consultants, and real-world case studies presented by industry experts.
 
» Copenhagen: 31 March
» Amsterdam: 3 April
» Dubai: 8 April
» Bogotá: 13 May
» Madrid: 20 May
» Seattle: 24 June
» Washington, DC: 26 June
» Chicago: 17 July
» Sydney: 21 August
» Beijing: 2 September
» Brisbane: 18 September
» London: 7 October
» Frankfurt: 9 October
» Rome: 21 October
» New Orleans:
    19-20 November


Regional Seminars
Asia-Pacific
Sydney: 29-30 July
Brisbane: 30 Sept - 2 Oct
Jakarta: 4-6 November Singapore: 18-20 November

EMEA
Oslo: 19-21 August
London: 16-18 September
Frankfurt: 29 Sept-1 October
Moscow: 1-3 October
Amsterdam: 6-8 October
Johannesburg: 15-17 October
London: 28-30 October

Latin America
Montevideo, Uruguay:
  12 al 14 de agosto
Villahermosa, México:
  19 al 21 de agosto
Panamá, Panamá:
  2 al 4 de septiembre
Quito, Ecuador:
  21 al 23 de octubre

North America
Vancouver: 5-7 August
Washington DC: 5-7 August
New York: 8-10 September *
Houston: 16-18 September **
Denver: 15-17 October
* Special Finance and Banking Focus
* Special Oil and Gas Focus

 

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


The DecisionTools Suite
The complete risk and
decision analysis toolkit

» English
» Español
» Português
» Deutsch
» Français
» РУССКИЙ
» 日本語版
» 中文版

@RISK
Risk analysis software using Monte Carlo simulation for Excel and Project

PrecisionTree
Visual decision analysis
for spreadsheets

NeuralTools
Sophisticated neural networks for spreadsheets

StatTools
Advanced statistical analysis for spreadsheets

Evolver
The Innovative Optimizer
for Windows


The DecisionTools Suite

@RISK Drives DNV GL’s Risk
Management Practice

Norway-based DNV GL is the world’s largest ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and expert for the energy value chain that includes renewables and energy efficiency. It is one of the top three certification bodies in the world. DNV GL energy consists of 3000 energy experts that deliver world-renowned testing and game-changing expertise for the energy value chain, including renewables and energy efficiency.

One of DNV GL’s customers, ROAF (Romerike avfallsforedling), a Norwegian-based inter-municipal waste management company, wanted to invest in a new waste management system in order to meet EU targets of 50% minimum recycling of domestic waste by 2020. It had several recommendations delivered by a supplier, but needed to ensure that the final decision fell on the most cost-effective and sustainable system – and guarantee that all risks had been considered along the way, as well as an independent quality assessment of recommendations.

DNV GL worked with the customer to create a solid foundation for decision making by using @RISK to first understand and simplify assessment criteria, and then evaluate and report risks against these same criteria. "The main reason we chose @RISK is that it adds that critical uncertainty that is present in all investments and decisions into the model," says Nicolaj Tidemand, Principal Specialist at DNV GL. "This gives invaluable information to decision makers, with the integration into Microsoft Excel making the tool very flexible."

He continued, "Risk management offers the customer more control over the risks related to the business and what actions can be taken to ensure a successful business outcome. Quantitative investment risk analysis gives the customer more information about the risks related to their investment decision, the flexibility of Palisade’s @RISK supports simple cost risk models and complex quantitative risk analyses that could be tailored to the customer’s needs."

  » Read the full case study
  » Learn more about DNV GL
 

2014 Palisade Regional Risk Conferences
The Palisade Regional Risk Conference Series continues its global tour. These regional conferences have brought together risk and decision analysis professionals from Fortune Global 500 corporations to small consulting practices, and across every industry. Our 2014 circuit will make stops in the following cities:

Sydney: 21 August Register Now
Beijing: 2 September Register Now
Brisbane: 18 September Register Now
London: 7 October Register Now
Frankfurt: 9 October Register Now
Rome: 21 October

Be sure to save the date for Palisade's premiere two-day Risk Conference to be held in New Orleans at the Hilton New Orleans Riverside Hotel. This is a must-attend event, with four tracks of informative sessions that will give attendees opportunities to learn, network, and explore the broad range of applications our software provides.

New Orleans: 19-20 November Register Now

 

Case Study
Danish Government Relies on @RISK
for Major IT Projects

Using Palisade’s @RISK, Using Palisade’s @RISK, the Danish Government is now able to comply with newly-formed legislation which requires that all government-related IT business cases that exceed €1.33m are to be risk assessed. With the guidance of Visual Reporting, a company that develops analytical reporting and software solutions, the Danish Government used an advanced Excel-based analytical spreadsheet with @RISK at its core to enter the variation of each business case assumption, and assess the monetary risk associated with its large-scale IT projects.

This new business case software model for the Danish Government now integrates all the aspects required to build a solid business case that takes every aspect of the risk associated into account. It helps users within the organization input data in a structured and well-formed manner, as well as standardizing the output for the management team so that business cases from all branches of the Danish Government can be easily compared.

 » Read the full case study
 
 

Product Spotlight
Playing Craps with @RISK
From Chapter 65 of Financial Models Using Simulation and
Optimization II
by Wayne Winston, published by Palisade Corporation

In the game of craps a player tosses two dice. If on the first toss a 2, 3, or 12 results the player loses. If on the first toss the player rolls a 7 or 11 the player wins. Otherwise the player continues tossing the die until she either matches the number thrown on the first roll (called the point) or tosses a 7. If you roll your point before rolling a 7 you win. If you roll a 7 before you roll your point you lose. By complex calculations it can be shown that the player wins at craps 49.3% of the time. Use @RISK and the example file below to verify this.

 » Download the example model and step-by-step instructions
 
 

Upcoming_Webcasts
Handy Tips for Using @RISK
Presented by: Rishi Prabhakar, Palisade Corporation
   12 August - 12noon AEST-Australia (4am CEST)   » Register Now

Introduction to Risk and Decision Analysis
using @RISK and the DecisionTools Suite

Presented by: Palisade Corporation
   14 August - 11am CEST-Central Europe (5am EDT)   » Register Now
   11 Sept. - 11am CEST-Central Europe (5am EDT)   » Register Now

Business Forecasting and Simulation using
@RISK an the DecisionTools Suite

Presented by: Glen Justis, Experience on Demand
   Part 2 of 3: 14 August - 11am EDT (5pm CEST)   » Register Now
   Part 3 of 3: 18 Sept. - 11am EDT (5pm CEST)   » Register Now

Optimisation with Evolver - Part 2 of 2
Presented by: Rishi Prabhakar, Palisade Corporation
   19 August - 12noon AEST-Australia (4am CEST)   » Register Now

Schedule Risk Analysis for a Large Development Program
Presented by: James Aksel, Principal Consultant, Project PMO
   04 September - 11am EDT-New York (5pm CEST)   » Register Now

Using VBA for Excel and the XDK to Improve
the @RISK Experience

Presented by: Rishi Prabhakar, Palisade Corporation
   08 September - 12noon AEST-Australia (4am CEST)   » Register Now

Optimisation with RISKOptimizer—Decision Making Under Uncertainty
Presented by: Rishi Prabhakar, Palisade Corporation
   23 September - 12noon AEST-Australia (4am CEST)   » Register Now

» See complete Webcast schedule


Palisade

The 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.

 
Palisade Corporation

Live Chat
©2014 Palisade Corporation, visit www.palisade.com

Palisade Corporation
798 Cascadilla Street, Ithaca, NY 14850 USA, +1 607 277 8000 sales@palisade.com
Palisade Brasil
Av. Presidente Vargas 435, Sala 501, Centro, Rio de Janeiro CEP 20071-001, +55 (21) 2586-6334 vendas@palisade.com
Palisade Europe UK Ltd
31 The Green, West Drayton, Middlesex, UB7 7PN, UK, +44 1895 425050 sales@palisade-europe.com
Palisade Asia-Pacific Pty Limited
Suite 404, L4, 20 Loftus Street, Sydney NSW 2000 Australia, +61 2 9252 5922 sales@palisade.com.au
Palisade Asia-Pacific, Tokyo Office
〒 150-8512 東京都渋谷区桜丘町 26-1 セルリアンタワー15F 電話 03-5456-5287 sales.jp@palisade.com