Neconomy Software and Consulting
 
 

@RISK used by National Grid UK
in Electricity Network Restoration Planning

 
 

Although total and even major partial system failures are rare, utilities still need to be prepared to respond to them by developing detailed and robust service restoration plans. And because taking real-time measurements of these plans is simply not feasible, some utilities have turned to computational modeling to simulate and measure restoration performance without interrupting service.

National Grid UK, the electricity transmission system owner for England and Wales and the system operator for all of Great Britain, uses @RISK’s probabilistic modeling techniques to measure network restoration performance in a variety of simulated failure scenarios. In other words, if the system, or part of it, somehow breaks down, the people at the utility want to know what, and how long, it will take to get it working again, and what the challenges will be along the way.

“The ability to model a wide variety of uncertainties and to run Monte Carlo type simulations has given significant insight into what is effectively uncharted waters,” says systems engineer Simon Waters, National Grid's in-house modeling expert. “The results provide a credible set of performance measures against which power congestion points can be identified, investment decisions considered or plans adapted to optimize deployment and efficiency.”

 
 
Read the Case Study
 
 
 
 

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Nashville - November 15-16 - Call for papers - Register Now

Save the dates! Join us in Nashville for our biggest event of the year, with two days of software training and case studies in risk and decision analysis! This event promises to be an invaluable opportunity for broadening one's knowledge of risk modelling, and networking with decision-making professionals in a range of industries. If you are interested in presenting, we're looking for interesting applications of @RISK and The DecisionTools Suite.

Benefits of Palisade Risk Conferences:

  • Get more from @RISK and the DecisionTools Suite – Get exposure to the latest techniques in risk and decision analysis so you can apply them to your own models.  
  • Learn from experts – Sessions are taught by Palisade's consultants and trainers and industry pros.  
  • Networking opportunities – Share ideas and speak with presenters, other attendees, and Palisade staff to gain valuable insight from many backgrounds
 
More about Palisade Conferences
 
 
 

Watch Now: Cost Estimation using @RISK

 

Learn how to account for schedule and cost risks in
Excel and Project, using Monte Carlo simulation

 

Cost Estimations are traditionally single point estimates, or even three-point estimates. In contrast, @RISK allows you to see a full range of possibilities of what could happen, and helps you quantify how likely something is to happen, giving a more realistic view of uncertainty. Cost Estimation questions that can be addressed include: What is the probability we will finish within budget? How much contingency should we have to have to be 80% confident that we will have enough money? Where should we focus our mitigation tehcniques to help minimize cost? In this webinar, we explore a basic Cost Estimation model to get you started in @RISK for Excel.

 
Watch the Webinar
   
 
 
 

@RISK Tips: Line Balancing

 

  Excerpted from RiskOptimizer for Business Applications
by Roy Nersesian, published by Palisade Corporation         

 

In this hypothetical situation, a production process is made up of five stages of manufacture and each stage of manufacture consists of a group of machines.  Each group of machines has varying output depending on operator proficiency.  The following example uses RISKOptimizer to determine how many machines there should be at each stage of manufacture to maximize profit.  

 
Download the Full Example and Files
   
 
 
 

Regional Training Seminars

 

Attend an intensive course to learn how to apply @RISK and the DecisionTools Suite to real-life problems.

 

Regional TrainingsOur worldwide Palisade Regional Training courses are professional public courses designed to teach you how to apply @RISK and the DecisionTools Suite to real-life problems. The training is hands-on, and includes course notes and example files. Palisade Regional Training courses have been accredited by a number of industry groups, enabling professionals in those industries to earn continuing education credits. Lunch and breaks are also provided, giving you a great opportunity to network with other professionals interested in risk analysis.

2017 locations include Rome, Moscow, Munich, Melbourne, Brisbane, Washington DC, Seattle, Calgary, and more.

 
View Schedule
 
 
 

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Live Webinars
Attend an hour-long event to learn how Palisade software works, and ask questions. See the schedule here.

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On-Demand Webinars
Watch a variety of Palisade webinars at your convenience. View a complete listing of on-demand webinars here.
 
The DecisionTools Suite
 
Contact Details
 

Palisade Corporation

798 Cascadilla St.,
Ithaca, NY 14850 USA

sales@palisade.com

www.palisade.com

About Us
 

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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