@RISK and StatTools critical for Masters of Accounting students

@RISK and StatTools critical for
Masters of Accounting students

Professor Joe Callaghan teaches Financial Analysis and Evaluation to students at Oakland University, where he has been an instructor for more than 20 years. A colleague who was using @RISK in a Management Information Systems Decision Modeling course sung its praises. Professor Callaghan was intrigued, and discovered that Palisade software has many useful applications in financial analysis.

"We use @RISK and StatTools extensively to teach both portfolio allocation and risk measurements and simulations, and financial securities valuations using simulated pro forma financial statements and cash flows," says Prof. Callaghan. "It is critical for Masters of Accounting students to have advanced Excel plug-ins to better learn applied statistics and simulations."

» More about Prof. Callaghan, his courses, and publications

@RISK Decision and Risk Analysis is a core part of the
Management Science module in the Business Information Technology degree at Kingston. Before, students found it difficult to develop and run small decision and risk models using Excel alone. Now they can use the full capabilities of the powerful Excel add-ins that come with Palisade's DecisionTools Suite to run and analyse even full-scale models in a very efficient manner. My lectures have become more efficient too thanks to the graphic facilities available in the software. There's nothing better than a good graph to illustrate the concepts behind decision and risk analysis and Palisade's tools help me enormously in this task.

PrecisionTree, TopRank and @RISK are all used intensively in our computer-supported tutorials. Students learn quickly to build decision and risk analysis models on the hoof because they are working in an (spreadsheet) environment that is already familiar to them. They not only learn but also have fun! In summary, Palisade's DecisionTools Suite has revolutionised our delivery of the Management Science module at Kingston!

The DecisionTools Suite Professional is currently being used by approximately 150 Degree Students, with this number rising over the next three months, to an anticipated 180. Trial Versions

                             L. Alberto Franco, Senior Lecturer in
                             Management Science, Kingston

Palisade Roadshows on Strategic Risk
Taking the show on the road!

Palisade is pleased to announce this free seminar series on the quantification and analysis of risk in a variety of industries. Please join us for this unique opportunity to learn powerful risk and decision analysis techniques that you can immediately apply to your work. Monte Carlo simulation, sensitivity analysis, and optimization are among the techniques that will be demonstrated, using @RISK and DecisionTools Suite software from Palisade.

» See the schedule, and sign up today!

Recent School Adoptions

Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2011, over 800 universities worldwide adopted the DecisionTools Suite. Professors in business, engineering, OR, and other fields keep their students on the cutting edge by teaching the latest analytical techniques from Palisade. Some major schools with programs and courses that standardized on the DecisionTools Suite last month include:

US and Canada:

  Appalachian State University
Babson College
Bentley College
Clemson University
Colorado School of Mines
Cornell University
Illinois State University
Ithaca College
North Central College
Pennsylvania State
Pennsylvania State University
Rice University
Stevens Institute of Technology
Syracuse University
University of Alabama, Huntsville
University of Alaska, Anchorage
University of Maryland
University of Pennsylvania
University of Texas - Austin
University of Toronto
University of Wyoming
Université de Moncton
Université du Québec Outaouais


  AGH University of Science & Technology - Poland
Edinburgh Napier University - United Kingdom
FH Kiel - Germany
London School of Economics & Political Science - United Kingdom
Pontificia Universidad Católica de Chile - Chile
RMIT University - Australia
Royal Veterinary College - United Kingdom
University of Trinidad & Tobago - Trinidad & Tobago
Universidad de Murcia CEEE - Spain
Universidad Politecnica de Valencia - Spain
University of Oxford - United Kingdom
Licensing Options

There are three easy ways to get the DecisionTools Suite for your students:


Course Licenses available from Palisade. These are economical, annually renewing bulk licenses for both
network lab and laptop installation.
» Learn more

Student Versions from Palisade. These are 12-month versions available for purchase individually by students through either the Palisade web site or the school store.
» Learn more

Textbook Editions available bundled with textbooks.
These are time- and model-limited licenses.
» Learn more

Get DecisionTools Suite 5.7.1 for your course by contacting:

AddressPalisade Academic Sales    
800-432-7475 / 607-277-8000

@RISK The bottom line is, with @RISK by
      Palisade, we can now quantify economic
      uncertainly with considerable insight. The
      analytics in @RISK are up front, available,
      and flexible enough to provide me with
      everything I need. It’s obvious that
      @RISK is a great software package for
      commercial use, but for us, we see equal
      value as a teaching tool.
Trial Versions

                       Larry Chorn, Associate Professor of Petroleum
                       Engineering, Colorado School of Mines

Teaching Tips & Examples

The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way. Each month we feature an example or tip illustrating how students can gain "real world" benefits by implementing quantitative analysis.

Scheduling and Timing
Excerpted from Decisions Involving Uncertainty by James Murtha, published by Palisade

Scheduling and timing issues refer to the allocation of capital and other resources over time as well as to the generation of revenue. How much money should be invested in seismic data acquisition, platforms, facilities, pipelines, and drilling? How do we spread out these investments over time? To what degree are the schedules dependent on anticipated volumes of recovery? What will the production profile look like? Are there stages to consider such as primary depletion, water flood, enhanced production? This section addresses some of the many time-dependent inputs to a comprehensive investment model. Needless to say, the uncertainty issues involved in such matters can be challenging to quantify.

Palisade Download the example spreadsheet and
    step-by-step instructions

Textbook of the Month

The DecisionTools Suite is included in dozens of major textbooks, and is a key component of more titles every year. Authors use the DecisionTools Suite to illustrate key analytical concepts and build examples demonstrating the value of quantitative techniques in business, OR, and engineering.

Essentials of Statistics for Business
and Economics, 6th Edition
by Thomas A. Williams

This reader-friendly introduction to business statistics offers a wealth of real-world examples, proven methods, and application exercises that clearly demonstrate how statistics can inform decisions and suggest solutions to contemporary business problems. The authors' signature problem-scenario approach and numerous exercises in every chapter show students how to apply statistical methods in practical business situations. In addition, the Sixth Edition includes new case problems, methods, applications, and self-test exercises to help students' master key formulas and apply their knowledge. This title is available with DecisionTools Suite and StatTools software for Excel. Trust the latest version of this market-leading essentials text to introduce sound statistical methodology in a proven applications setting. The book includes all of the strengths of the best-selling parent text, with a streamlined focus on the core topics and a concise presentation that is easy for students to follow.

» Learn more from the publisher
» View a list of books bundled with Palisade software

Featured White Paper

Professors, PhD candidates, practitioners and others often use the DecisionTools Suite as part of a complex analysis to address important problems. These analyses are published in white papers. Each month we will feature a different academic white paper addressing a wide range of issues.

A Balanced Real Estate and Human
Resource Model for Assessing the
Financial Implications of Large Scale
Real Estate Decisions
Franklin Becker, Ph. D. and Arthur Pearce, M. R. P.
Cornell University, International Workplace Studies Program

As large organizations grow and evolve over time, they face the challenge of accommodating change in a manner that contains costs while strengthening the firm’s competitive position in the marketplace. Invariably, not only initial capital and long term operating costs, but the effect of the real estate decision on the firm’s ability to attract and retain staff, and their ability to work productively, must be considered. Compounding an already complex decision is that the factors influencing such decisions are often highly uncertain, and that there is limited data on the impact of such decisions on human resource factors. Yet such decisions must be and are made. This article describes the Cornell Balanced Real Estate Assessment model (COBRA©), a prototype tool which address these issues.

Palisade  Read the full paper here

Academic Live Webcast

Professors using Palisade software share examples and teaching tips they've used in class in Palisade's Academic Webcast series. Register online at no charge.

Portfolio Management using @RISK
To be presented by Matt Rosenberg, RoseCap Investment Advisors
September 20, 2012, 11:00am EDT (Eastern Daylight Time)

This free live webcast is intended to show the benefits of using Monte Carlo simulation in the processes of portfolio construction, and portfolio management for individuals, families and institutional investors. Topics will include a general overview of the portfolio management processes, as well as specific examples showing the use of @RISK for risk management within these processes.

» Read more details about the webcast and register here
» See complete Webcast schedule


Story to Share?
We are always on the lookout for interesting content to add to our academic newsletter. Many of our academic users are involved in projects using our software which might have wide appeal and be of general interest. If you have a story to share, send it to: and we’ll consider it for an upcoming edition!


The Academic Global Leader in
Risk and Decision Analysis
Palisade 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.

What is The DecisionTools Suite?
The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs. The Suite includes @RISK for Monte Carlo simulation, PrecisionTree for decision trees, and TopRank for “what if” sensitivity analysis. In addition, DecisionTools Suite comes with StatTools for statistical analysis and forecasting, NeuralTools for predictive neural networks, and Evolver and RISKOptimizer for optimization. All programs work together seamlessly, and all integrate completely with Microsoft Excel for ease of use and maximum flexibility.

The Suite is offered in three affordable and flexible licensing options for those in academia: Student Versions, Course Licenses and Full Academic Versions.

» Schools using Palisade software
Textbooks using Palisade software

In This Issue

» @RISK and StatTools
   critical for Masters
   of Accounting Students

» Palisade Roadshows on
   Strategic Risk

» Recent School Adoptions

» Licensing Options

» Teaching Tips &

   Scheduling and Timing

» Textbook of the Month
   Essentials of Statistics for
   Business and Economics,
   6th Edition

» Featured White Paper
   A Balanced Real Estate and
   Human Resource Model for
   Assessing the Financial
   Implications of Large Scale
   Real Estate Decisions

» Academic Live Webcast
  Portfolio Management
   using @RISK

» Story to Share?

» About Palisade and the
   DecisionTools Suite

Keep in Touch

PalisadeClick to chat live with
a sales representative

Risk Conferences

2012 Palisade Risk Conferences
Industry experts present real-world case studies, Palisade consultants deliver workshops and training, plus sneak previews of new software. Don't miss the opportunity to sign up for an Expert Session, in which you can have an expert review your model and answer questions, one-on-one, at no charge!
» London: 18-19 April
» Sydney: 29-30 May
» Las Vegas: 7-8 Nov


» Training Seminars
Auckland: 18-19 July
Brisbane: 8-9 August
Singapore: 21-22 August

Belo Horizonte:
   27-29 de junho
São Paulo: 17-19 de julho
Rio de Janeiro, 7-8 de agosto

EMEA & India
Paris: 21-22 June
London: 31 July - 1 August

Latin America
Medellín, Colombia:
  24-26 de julio
México, D.F.:
  30 de julio al 3 de agosto
San José: 27-31 de agosto

North America
Toronto: 27-29 June
Boston: 17-19 July
Houston: 17-19 July
San Francisco: 14-15 August
Calgary: 14-16 August
Charlotte: 21-22 August

» Live Web Training
Decision-Making and
Quantitative Risk Analysis
using the DecisionTools Suite

6-7 September, 9am-1pm ET

21-22 June, 1pm-5pm ET
17-18 September, 9am-1pm ET

Decision-Making and
Quantitative Risk Analysis
using @RISK

5-6 July, 1pm-5pm ET

26-27 July, 1pm-5pm ET

Project Risk Assessment
using @RISK

20 August, 9am-1pm ET

» Live Webcasts
These complimentary sessions are 30-60 minutes, held via web conference. See industry case studies, software demos, applications, and more.

Portfolio Management
using @RISK

September 20, 11:00am ET
Matt Rosenberg
RoseCap Investment Advisors
» Register

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

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The world's most widely
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