Abstracts

  Introduction to Risk & Decision Analysis using @RISK

Rishi Prabhakar
Palisade Corporation

This presentation will use examples from different industries and applications to give an entry-level introduction to @RISK, as well as showing how the new features in the latest releases add additional capabilities to the analyst’s toolbox. We'll also shine a light on some of the lesser-known corners of the software, to provide useful tips about how to make risk modelling even easier.

  How to Improve Efficiency of Project Schedule Management using @RISK

Donghwan Han
PMinside

» Download the presentation

The project always predicts the future, so it is difficult to finish it exactly within the desired schedule. When developing a schedule, it is difficult to accurately describe the likelihood of ending within the schedule, although the schedule is developed taking into account the risks of the project. One of the difficulties in project management is scheduling. In this presentation, we will look at how to develop project schedules considering risks, and how to use @RISK to increase the likelihood of ending in a schedule by stochastic approach to the project schedule.

  Project Cost and Schedule Uncertainty with @RISK

Rishi Prabhakar
Palisade Corporation

In this session we will look at the role probabilistic quantitative analysis plays in Project Management, focussing on costs and risk events. We will discuss the concept of contingency, and introduce a mathematically correct approach to modelling risk registers.

We will also showcase @RISK's interface with MS Project via Excel to enable the modelling of schedule uncertainty. We will cover some of the unique aspects of this modelling; variable start dates and durations, probabilistic Gantt charts and the Critical Index.

  Risk and Contingency Evaluation for International Construction Project

Wooyong Jung
Yonsei University

» Download the presentation

Any construction project, especially an international project, is fraught with a lot of risk. Unless you have a clear understanding of the risk and appropriate management, you will take unnecessary risks, which could lead to project loss. This presentation aims to introduce how to identify and evaluate project risk using @RISK program. This presentation also points out the wrong routines and calculation skills that many companies often commit.

  Business Valuation using Monte Carlo Simulation

Jinsam Cho
MakeFutures Inc.

» Download the presentation

DCF, Discounted Cash Flow, is a common way to evaluate any kinds of future business: However, its weakness lies in representing cash flow only with static numbers, which cannot show the variability of future risk. With actual cases, I proposed here applying Monte Carlo simulation to assuming future cash flow. This simulation based DCF presents more information on its future risk and additional usefulness in sensitivity analysis as well.

  Introduction to Optimization, Decision Trees, and Sensitivity Analysis using The DecisionTools Suite

Rishi Prabhakar
Palisade Corporation

Palisade's DecisionTools Suite package provides a number of different tools for risk and decision analysis. In addition to @RISK, popular tools in the set include TopRank, a powerful program which allows fast and easy sensitivity analysis on any Excel model, PrecisionTree which allows users to build decision trees for evaluating options, and Evolver/RISKOptimizer for building optimisation models. In this presentation, we will look at some example models that demonstrate the capabilities of each of these tools.

  Residual Income Model using @RISK

Tae Sik Kim
KICPA

» Download the presentation

This session will present how to use @RISK to solve problems when applying Residual Income Model in practice.

  How to use @RISK in Various Applications

Dongju Jeon
Korea Game Planning Group

» Download the presentation

This session will present how to use @RISK in various application such as mobile game industry, Marine ocean and project Schedule management.

  Key Considerations When Using Simulations with @RISK

Kyunghyun Min
ERETEC Inc.

» Download the presentation

It is important to increase the reliability of the simulation results. In this presentation, we would like to talk about the considerations that should be taken to improve the reliability of the results when performing simulation using @RISK.