Here is an example of a custom application written by Palisade Custom Development using @RISK's XDK in Excel. In this example, @RISK is used for cost risk analysis and estimation. The application prompts the user for a three-point estimate for each cost item in the project as a way to recognize uncertainty in these cost elements. A risk register is created using a simply colored grid interface. Next, because in real life costs are seldom independent of each other, the user is able to set up correlations between related cost elements. Finally, the user can define external risk events that will affect the total cost of the project. Automation takes the shape of an Excel add-in, which is shown to the user as a new Excel ribbon.
Custom Development in Excel
New XDK Functionality and Documentation in version 6.2
Excel Developer’s Kits (XDK) automatically come as part of the DecisionTools software which includes, @RISK, PrecisionTree, Evolver, StatTools, and NeuralTools. XDKs allow you to automate and customize the tool within Excel using Excel’s built-in VBA programming language. In @RISK 6.2, the XDK has been updated to include new functionality for the automation of @RISK graphs and simulation filters, as well as several additional improvements. For most products, the XDK now includes a new “Automation Guide” to help you get started quickly. In addition, new videos and example files have been added to the XDKs to help you use this powerful feature.
See also: Contingency Calculation in Cost Risk Analysis and @RISK Quick Tips: Automating @RISK risk analysis software with VBA
