Previously, Visual Reporting, the Denmark-based business analytical reporting consultancy, used @RISK to help the Danish Government comply with Danish legislation requiring all Government related IT business cases that exceed €1.33m to be risk-assessed.
Laurits Søgaard Nielsen, CEO at Visual Reporting, believes Monte Carlo Simulation (MCS) used within @RISK was integral to the solution that Visual Reporting implemented for the Danish Government, and he discussed that success in the January 2015 issue of economia, which covers technical accountancy content, business, economics, management and finance. In the piece, Why do IT projects fail?, Nielsen gives his insight:
“The main reason large IT projects fail is that they grow in complexity, and humans are very poor at handling complex tasks,” says Laurits Søgaard Nielsen, CEO of Virtual Reporting. “But often the creation of a business case does not follow best practice and can be severely affected by managers wanting to influence the process of project approval. ‘I want this project to happen’ often outweighs the poor business case.”
With Palisade’s risk and decision analysis tools, complex tasks and projects can be handled with confidence.
Read the original case study here.