Monte Carlo Simulation for Environmental Risk Analysis

An area gaining traction in the risk analysis world is the application of Monte Carlo simulation to environmental risk. There are numerous uncertainties in the natural world and they affect plans in any number of ways. Think of a typical construction project. What is the impact of weather, specifically inclement weather, on the progress of […]

Financial Modelling in the Oil and Gas Industry: Recent Events

This week saw Palisade sponsoring the first SMI-organized conference on Financial Modelling in the Oil and Gas Industry, in London (UK). Palisade‚Äôs Michael Rees spoke on the use of @RISK, PrecisionTree, Evolver and RISKOptimizer within the industry. The talk included examples of the use of the software to conduct reserves estimation, model exponential decline and […]