PragmaRisk uses the DecisionTools Suite to Determine and Monitor Contingency Funds for 
Construction Projects

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» PragmaRisk uses the
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» Version 7.0.1 of the18high_spacer00.gif
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Case Study
» UCSD Research uses
   @RISK and PrecisionTree
   to Inform Public Health Policy

@RISK Modeling Tips
» Line Balancing Using @RISK

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PragmaRisk uses the
DecisionTools Suite to Determine
Contingency Funds for Construction Projects

PragmaRisk is a risk management consultancy based in northern France, that provides services and support covering enterprise risk management, project risk management and quantitative risk assessment (QRA).

PragmaRisk helps clients develop risk management best practices. This includes using Monte Carlo simulation to quantify the risks and uncertainties inherent in the execution of a project, and advising on contingency funding and budgets.

The objective of contingency recommendation and monitoring is to account for the many uncertainties when planning budgets in order to determine the amount of contingency fund that should be added to the original budget, or to check whether what has been allowed to date is enough. PragmaRisk performs integrated cost and schedule QRA using @RISK throughout the life of a project, which can run over several years.

Common and seemingly simple occurrences can have detrimental effects on the budget. For example, a construction project over-running means that equipment and manpower must be hired for longer, while costly schedule recovery plans (such as working at night) may be required and contractual damages for delay applied.

PragmaRisk's models are able to bring together cost and schedule modelling in one environment, because @RISK bridges Microsoft Excel and Microsoft Project. It can also exploit 'data exports' from other project scheduling software.

Bruno Berroyer, the founder of PragmaRisk, is an experienced risk manager. He has used other Monte Carlo software, but prefers @RISK. He explains: "@RISK integrates really well with Microsoft Excel, which is a big advantage in terms of productivity when we are developing risk models. In addition, the software is integrated with the popular MS Project, which makes the modelling process quicker and smoother. Overall, Palisade's DecisionTools Suite is exactly that - a 'toolbox' that enables advanced risk analysis."

» Read the detailed case study

DecisionTools Suite 7.0.1 Now Available
DecisionTools Suite 7 users with valid maintenance will be offered an automatic upgrade to the latest version 7.0.1. Users with versions 5.x or 6.x (and valid maintenance) can request an upgrade here.

New Version of BigPicture for Mind Mapping and Data Exploration
BigPicture, the mind mapping and data exploration add-in for Excel that Palisade introduced last year, has a range of new features in the 2016 v.1 release.

BigPicture has been adopted by industries ranging from mining to pro sports to pharmaceuticals. BigPicture enables all Excel users - whether HR professionals or strategic planners, students or project managers, financial planners or marketers - to quickly create dynamic maps to organize ideas either from scratch or from data.

Now, version 2016 v.1 adds a range of ease-of-use improvements as well as analytical power. We've made it simpler to automate common tasks, easier to navigate, and added new statistics to data map calculation options. See a complete listing of updates and improvements in 2016 v.1.

If you have BigPicture already (either standalone or as part of the DecisionTools Suite v7), a notification for updating will appear in your software, or you can check for software updates in the BigPicture Help submenu.

Try BigPicture for a year for only US$49!

Attend a Free Webinar

Introduction to BigPicture
04 March - 10am GMT / 11am CET / 1pm MSK » Register Now
23 March - 10am EDT / 2pm GMT » Register Now
06 April - 10am EDT / 3pm BST » Register Now

New topic: BigPicture and PrecisionTree:
A Collaboration of Two Products

Presenter: Michelle Jackson, Palisade Corporation
15 March - 1pm EDT / 5pm GMT » Register Now

Case Study
UCSD Research uses @RISK and PrecisionTree to Inform Public Health Policy
Researchers at the University of California San Diego School of Medicine used @RISK and PrecisionTree to create a more effective and nuanced screening program for the Hepatitis B virus in Asian populations in their region. In some communities, the rate of Hepatitis B infection can be as high as 16-18%. The models and decision trees created using Palisade software helped the scientists determine which type of screening test to administer, and what location was most effective (e.g. health clinic versus community event), when considering widely different segments of the Asian immigrant population. This information has informed both San Diego County and the U.S. Preventive Services Task Force in their public health policy approaches.

The Hepatitis B virus is 100 times more infectious than HIV, and kills more than 780,000 people each year. It can cause a potentially life-threatening liver infection often leading to cirrhosis and liver cancer. "It's really a devastating disease," says Dr. John Fontanesi, Director of the Center for Management Science in Health at University of California San Diego School of Medicine and part of a team of investigators exploring better ways to both prevent and treat Hepatitis B and C. It's also preventable with a series of vaccinations and, if caught early, can be managed much like other chronic diseases with appropriate drugs--letting those treated lead normal productive lives.

“In research, we tend to state problems monolithically - 'is this good or not'—but most of life is not that clear cut," says Dr. Fontanesi. "Much of life is, 'it depends', and we were able to use @RISK to quantify 'it depends', to tell us what it actually means when we say that.” The research should lead to more effective screening, delivering care to people who need it.

He adds that @RISK's graphical visuals were an invaluable feature as well. “When you're trying to communicate statistics to the medical community, people can get lost, but if you show them @RISK, they get it instantly; that visual representation is so much more powerful than written text or a table of numbers.”

» See the complete case study

Product Spotlight
Line Balancing using @RISK
This is a simplified model of a multistage manufacturing process. Each stage has a number of identical machines, and each machine can produce a random number of items in a fixed period of time. Each stage feeds the next stage. However, any stage from stage 2 on can produce only as many items as it receives, even it has the potential to produce more. The problem is to determine the number of machines at each stage to maximize mean profit, which is the revenue from selling all items produced during the period minus the operating costs of the machines.

» Download the example model
» More about @RISK


BigPicture Webinars listed above ˆˆˆ

New topic: Project and Pipeline Valuation and
Optimization with The DecisionTools Suite

Presenter: Dave Bristol, Palisade Corporation
09 March - 1pm EST / 10am PST / 6pm GMT » Register Now

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

10 March - 10am GMT / 11am CET » Register Now
05 April - 1pm EDT / 10am PDT / 6pm BST » Register Now
07 April - 10am BST / 11am CEST » Register Now

New topic: 2016 Bracket Domination!
Simulating the NCAA Tournament with @RISK (Part 1)

Presenter: Steve Hunt, Palisade Corporation and
Andrew Pulvermacher, Nighthawk Intelligence

14 March - 11am EDT / 8am PDT / 3pm GMT » Register Now

New topic: Final Four Analysis, a model featuring @RISK
(Part 2 of the 2016 NCAA Webinar Series)

Presenter: Steve Hunt, Palisade Corporation and
Andrew Pulvermacher, Nighthawk Intelligence

31 March - 11am EDT / 8am PDT / 3pm GMT » Register Now

» See complete Webinar schedule

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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.

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