Decision-Making and Quantitative Risk Analysis using @RISK (8023/AACEI Two)
Includes an introduction to the use of @RISK with other DecisionTools software

The 2 day @RISK-specific training employs simple examples to present modeling techniques and the capability of the software, as well as simulation analysis. By the end of the course, attendees should be able to perform defensible risk assessments using the @RISK software. Two days provides a sound introduction to @RISK.

Please note: Participants bring their own laptops. (No laptops are provided.)

Day 1

Introduction

  1. Overview of Palisade Corporation
  2. Course Overview
  3. Introduction to Risk Assessment
    1. Concept
    2. Statistics and Probability
    3. Probability Distributions – common functions
    4. Monte Carlo Simulation
  4. @RISK Interface
  5. Developing a Simple Model

Viewing Simulation Results Using @RISK 5

  1. MC Simulation of Simple Model
  2. Viewing Results Summary
    1. Distributions
    2. Statistics
  3. @RISK Reports
    1. Detailed Statistics
    2. Data
  4. @RISK Analyses
    1. Sensitivity
    2. Scenarios
  5. Sharing Simulation Results
    1. Excel Reports
    2. Stats Functions, etc.
    3. @RISK Library
  6. Sharing Model Information
    1. Swap Function
    2. RiskTemplate
  7. Additional @RISK Features
  8. Advanced Analyses

Day 2

Correlation and Interdependence

  1. Correlating Risk Inputs
    1. Impact
    2. Simple Calculation Example
  2. Correlation Methodology
    1. Pearson
    2. Rank
    3. Application
  3. Time Dependent Risk
    1. Impact
    2. Application
    3. Time Series Correlation

Selecting Distributions

  1. Introduction
  2. Expanded Distribution Selection
    1. Bootstrap Method
  3. Distribution Fitting
    1. Interface
    2. Fit Manager
    3. Linking Data
  4. Expert Opinion
    1. Alternate Parameters
    2. Judgment and Bias
  5. @RISK Library

Comprehensive @RISK Example

Review of Additional Example Models

Using @RISK with the DecisionTools Suite - Integrated Example

  1. TopRank and @RISK
  2. PrecisionTree and @RISK
  3. RISKOptimizer and @RISK


Program Level: Intermediate

Prerequisites: Familiarity with Microsoft Excel. No Advanced Preparation required.

These courses are Group Live Offerings. Credits available per hour of instruction: 1 CPE credit (available for US courses only), 1 PMI Professional Development Unit, 1 PDH toward AACEI certification.


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