In This Issue
What's New
» @RISK used in Patrick
   Engineering’s MBTA Project

» @RISK and DecisionTools
   Suite 7.5 Now Available

» PM Today Reviews
   @RISK Pro

» New Book:
   Business Risk and Simulation
   Modelling in Practice:
   Using Excel, VBA and @RISK

» 2016 Risk Conferences,
   New Dates


In This Issue
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2016 Palisade Risk Conferences
An intensive networking and software training event presented by Palisade trainers and consultants, with real-world case studies presented by industry experts.
» Kuala Lumpur: 18 October

Central America
» Mexico City: el 25 de agosto

North America
» Houston: 10 June
» Chicago: 27 July
» Edison, NJ: 20 September
» Irvine, CA: 29 September
» New Orleans: 1-2 November

EMEA & India
» Bangalore: 19 April
» New Delhi: 21 April
» Munich: 9 June
» Amsterdam: 14 June
» Edinburgh: 22 September
» Cape Town: 10 November

Regional Seminars Asia-Pacific
Brisbane: August 16-17
Melbourne: September 13-14
Perth: September 11-12

London: September 6-8
Frankfurt: September 7-9
Amsterdam: September 27-30
Sandton: September 27-29
London: October 11-13
Zurich: October 25-27

Latin America
Bogotá, Columbia:
13 al 15 de septiembre
Lima, Perú:
17 al 19 de octubre

North America
Salt Lake City: September 20-22
Orlando: October 4-6
New Orleans: November 1-2

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

» English
» Español
» Português
» Deutsch
» Français
» 日本語版
» 中文版

Risk analysis software using Monte Carlo simulation for Excel and Project

Mind Mapping and Data Exploration for Excel

Visual decision analysis
for spreadsheets

Sophisticated neural networks for spreadsheets

Advanced statistical analysis for spreadsheets

The Innovative Optimizer
for Windows

The DecisionTools Suite

@RISK used in Patrick Engineering’s Massachusetts Bay Transit Authority Project
Patrick Engineering, a nationwide U.S. engineering, design, and project management firm, provides independent cost estimating, scheduling, and risk analysis services for the Massachusetts Bay Transportation Authority (MBTA). Given the uncertainty of cost and schedule duration estimates, the best way to display them is with probability distributions. Patrick Engineering uses @RISK to assess cost and schedule contingency needs based on project or program risks.

Patrick Engineering worked on the Downtown Crossing Vertical Upgrade project recently, part of the MBTA’s program to upgrade elevators and meet accessibility requirements of the Americans with Disabilities Act. The first step for the project was risk identification. “To do this, you need to work collaboratively with the client, with the designers, with the project management team, with anyone who will have insight into the project – you want them all involved,” explains Kim Kozak, Sr. Project Manager for Patrick Engineering. The full team for the Downtown Crossing station project included six organizations and approximately 20 team members.

From here, Patrick Engineering holds a Quantitative Risk Workshop with all the players. “We try to get people thinking, to encourage discussion, as even a small detail could lead to a giant risk,” said Kozak. “Similar to the situation with the Titanic – what seems like a minor detail could be enough to sink the entire ship.”

Through the Workshop process, the team is able to capture enough details to enable Patrick Engineering to build a risk model based on the minimum, most likely and maximum values, and assign appropriate levels of probability for those risks. The company uses @RISK to assess project contingencies based on the cost and schedule risks, using Pert and Triangle distribution models. As each project has unique risks, the input for models is determined on a per-project basis.

“The final results of Palisade’s @RISK models help us, and our clients, understand where projects could go – not where they will go,” explained Kozak. “And we know that if a risk does occur, we’re well prepared as we’ve already identified it.”

» Read the complete case study

@RISK and DecisionTools Suite 7.5 Now Available
New @RISK 7.5 and DecisionTools Suite 7.5 offer a range of improvements for any decision maker, from general use enhancements to new, specialized analytical features. New and enhanced graphing options, faster performance, and sophisticated analytics make DecisionTools Suite 7.5 the only decision analysis toolset you’ll ever need!

  • New and Improved Tornado Graphs in @RISK
  • Faster Optimization with RISKOptimizer
  • Over 20 New @RISK Functions
  • Graphing and Reporting Improvements in @RISK
  • And more!

» What's new in DecisionTools Suite 7.5

Project Manager Today's In-Depth Review of @RISK Professional

Project Manager Today took an in-depth look at @RISK Professional in a 4-page article in July. "All projects involve risks, but it’s vital to understand what those risks are and how they might affect your budget and schedule," explains author Steve Cotterell. "@RISK is a well-established software tool that’s been designed to help you do that." What follows is a thorough review of features, with helpful screen captures as illustrations. The piece serves as a nice introduction to @RISK, demonstrating how project managers create models to mitigate uncertainty, all within Excel!

» Read the full @RISK Professional review

Project Manager Today's Review of @RISK Professional

New Book: Business Risk and Simulation Modelling in Practice: Using Excel, VBA and @RISK (The Wiley Finance Series)

This new first edition text from the Wiley Finance Series is a complete guide to the principles and practice of risk quantification for business applications. Author Michael Rees, an expert on risk management and modeling, utilizes @RISK extensively to illustrate points and perform analyses. The book is unique in its coverage of the theory, context, and approaches to risk management and modeling issues. Nearly 100 practical, real-life models are provided to demonstrate key concepts.

» Learn more and order Business Risk and Simulation Modelling in Practice

New Book: Business Risk and Simulation Modelling in Practice: Using Excel, VBA and @RISK (The Wiley Finance Series)

2016 Risk Conferences - New Dates in California and New Jersey
Palisade Risk Conferences are taking place around the globe in 2016! We're looking for interesting applications of @RISK and DecisionTools Suite software for presentations. Register now for an event near you.

US Risk Conferences

New Orleans Nov 1 & 2 Call for Papers - Register Now
Edison, NJ Sept 20 More Information - Register Now
Irvine, CA Sept 29 More Information - Register Now

EMEA Risk Conferences

Edinburgh Oil & Gas, Sept 22 Call for Papers - Register Now
Cape Town November 10 Call for Papers - Register Now

Upcoming Webinars

BigPicture for Human Resources
Presenter: Robin Holloway, Palisade
09 August - 3pm BST / 2pm UTC / 10am EDT » Register Now

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

11 August - 10am BST / 11am CEST / 5am EDT » Register Now
08 September - 10am BST / 11am CEST / 5am EDT » Register Now
10 November - 10am BST / 11am CEST / 5am EDT » Register Now

Introduction to BigPicture
Presenter: Robin Holloway, Palisade
24 August - 3pm BST / 10am EDT » Register Now

Risk Register Focus: Introduction to Risk Analysis using @RISK
Presenter: Doug Oldfield, Palisade
13 October - 10am BST / 11am CEST / 5am EDT » Register Now

» See complete Webinar schedule

The 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.


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