The 2-day Palisade Risk Conference in Las Vegas brought together around 170 decision-makers from a wide range of industries at the Mandalay Bay Resort & Casino.
In the ever-popular Software Presentations track, Palisade developers and trainers covered features of the DecisionTools Suite and @RISK. At the same time, 3 additional tracks featured experts from CH2M Hill, Westinghouse, Lockheed Martin, Intel, Premera Blue Cross, Tennessee Valley Authority, and many others. These presentations covered industry case studies from fields as diverse as aerospace, energy, agriculture, finance, healthcare, and many more.
Conference attendees were also able to meet with Palisade consultants in one-on-one Expert Sessions. The Expert Sessions were well-received by both conference participants and Palisade consultants and trainers. Participants get a chance to bring their own models for the consultant to review, while consultants get a chance to discuss interesting applications of Palisade software in detail.
As always, the Risk Conference events are invaluable opportunities for networking and learning. "As an introduction to the software, I thought this conference was eye-opening. As I get more familiar with the software, I can see future conferences being valuable in honing my skills and learning new tricks and different perspectives on using the software," said Cory Forgrave, Economic Analyst in the DOI Division of Energy and Mineral Development. See more quotes from participants below.
Keynote focuses on successful BorgWarner
project with Palisade Custom Development
Brian Maturi, Director of Risk Management at BorgWarner, delivered the keynote address. Mr. Maturi described the successful implementation of a capital appropriations model that is used by around 300 financial analysts, controllers and program managers in 17 countries around the world.
Maturi and BorgWarner worked with Palisade’s Custom Development team to incorporate @RISK functionality into their model so that non-expert users could easily input data, and obtain standardized reports for business managers. The users of the system are not statisticians, so the model needs to be powerful, yet simple. “We wanted a system that could model 90% of the risks rather than an overly complex system that tries to model everything,” said Maturi. Palisade developers were able to take his instructions and build a flexible model with the user interface he was looking for.
Explains Maturi, “We have educated about 2,000 managers over the years in how to interpret the @RISK outputs, and more importantly, how they can use the information to design business strategies to manage, mitigate and even exploit the risks using real options thinking.”
“We are with Palisade for the long haul,” adds Maturi. “My company is very, very good at engineering leading edge automotive products. Palisade is very, very good at building risk based models.”
A Global Series
The 2013 Risk Conference series took place in over a dozen cities covering 6 continents, and brought together hundreds of risk analysis professionals. We have announced dates for the EMEA region for 2014, with more dates coming soon. We hope you will be able to join us.
Quotes from the 2013 Las Vegas event
"Very good conference with good usage of time."
— Mark Mendonca, Program Risk Management, Ernst & Young
"Excellent opportunity to explore all aspects of risk analytics!"
— Kurt Carson, Senior Quant Analyst in ERM group, Chelan PUD
"Excellent conference. Very informative. Great topics."
— Laurie Rutherford, Director, Enterprise Risk Management at CenterPoint Energy
— Matt Rosenberg, RoseCap Investment Advisors
"A valuable and educative experience."
— Richard Horsfall, Consultant
"Excellent learning and networking opportunity."
— Mike Wallace, Consultant
“As an introduction to the software, I thought this conference was eye-opening. As I get more familiar with the software, I can see future conferences being valuable in honing my skills and learning new tricks and different perspectives on using the software.”
— Cory Forgrave, Economic Analyst in the DOI Division of Energy and Mineral Development