VIDEO: Cost Estimation and Risk Registers using @RISK

Palisade expert trainer Rafael Hartke discusses how to use @RISK  for cost estimation–more specifically,  how to transform your deterministic models into probabilistic ones.  This recorded webcast shows you how to add uncertainty as well as a risk register to your model.     About the trainer: Rafael Hartke is an Oil and Energy Industry Consultant at […]

VIDEO: Handy Tips using @RISK

In this webcast, Palisade trainer Rishi Prabhakar explores tips for using @RISK  that will benefit the beginner and experienced user alike. There are many features of @RISK that can make your modeling life much simpler, if you only knew they were there! Rishi covers topics such as overlaying distribution graphs for comparison, changing default setting […]

Simple Oil and Gas Production Forecasting

@RISK can be very effectively used to forecast the production of oil and gas reserves about which little is known. This is a simple model forecasting production for a particular oil well. The estimated reserves within the well are uncertain and are represented with a Lognormal distribution function. The mean is 500,000 STB and the […]

Modeling Insurance Claims with Simulation, the Compound Function, and Resampling

It is important for an insurance company to estimate the amount of claims it will incur in a given year. This series of models assumes that there are three types of claims: auto, general liability, and worker's comp. Historical data for the company is included. The top section lists the numbers of claims for the […]

@RISK Tip: Reporting in Excel

The @RISK — Excel Reports command selects reports to be generated on the active simulation results, or the current model definition. A variety of different pre-built simulation reports are available directly in Excel at the end of a simulation. The Quick Report is a report on simulation results designed for printing. This report contains a […]

@RISK Tip: Format Cells with @RISK Inputs and Outputs

You can easily flag any cell that contains @RISK input distribution functions or @RISK output functions using the Application Settings window of @RISK. Application Settings is located under the Utilities menu in the @RISK ribbon:   Here you can apply default cell formats to cells in your workbook where @RISK inputs and outputs are located. […]

@RISK Tip: Saving Simulations

@RISK risk analyis software gives you multiple options for saving Monte Carlo simulations you have run and comparing them with other simulations. These include: Storing simulations in your Excel workbook Saving simulations as a separate .RSK5 file outside the workbook Using the @RISK Library for storing and comparing different simulations. When you want to store […]

@RISK Tip: Using @RISK with PrecisionTree in the DecisionTools Suite

@RISK is available with companion product PrecisionTree in the DecisionTools Suite. PrecisionTree creates decision trees in Excel to allow you to map and understand the complex decision problems. @RISK functions are recognized by PrecisionTree, and the two may be launched from a common Excel toolbar. @RISK allows you to:   quantify the uncertainty that exists […]