The University of Witwatersrand in South Africa is offering its mining engineering students some valuable practical guidance and financial analysis experience, to equip them with proficiencies and knowledge that will be required in their professional lives.
Using Palisade’s risk analysis tool @RISK, the school is giving students training in and knowledge of Monte Carlo Simulation. Professor RCA Minnitt from the University explains why this is so imperative: “It’s very important to give students a real-world feel of how mining operations are managed financially – before they head out into the professional world. An understanding of Monte Carlo simulation is absolutely essential. Without this discipline’s knowledge and use, robust and credible financial analysis is not possible. @RISK is an essential tool for both our undergraduate and post graduate programmes.”
The University feels @RISK is well suited for Monte Carlo Simulation in academia, and values its ability as a modeling training tool, which gives the students a head start in their professional careers.
For more information please view the full case study here.