Resources

Example Models to Perform Risk and Decision Analysis using Lumivero Software

All example models may be downloaded, modified, and distributed free of charge. You can use these as inspiration for your own models.

Please note all examples require @RISK or the appropriate DecisionTools software product installed to see the full analysis.

Legal Notice: Lumivero assumes no liability for your use (or inability to use) any of these examples. All models are provided as-is without warranty of any kind, and by downloading them you assume all risk for the use of and/or results generated from these models.

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Cost Models for Events

Three different versions of an example for modeling costs of risk events. 1. Illustrates one way to model cost from an event which might occur...

Credit Risk Models

A basic @RISK model where: 1. The uncertainty is essentially stationary through time. 2. The uncertainty changes through time because of business cycles. 3. The...

Portfolio Analysis

If you own a portfolio of investments, you know that there is a great deal of uncertainty about the future worth of the portfolio. The...

Real Options

A set of examples files to illustrate real options of projects: 1. A model that illustrates the real option of abandoning a project at a...

Infectious Disease Model

Two examples to illustrate one possible way of simulating the spread of an infectious disease. 1. A basic @RISK model where infected people are never...

Risk Tools Compound Function

Unlike other @RISK distribution function such as RiskNormal and RiskBinomial, the RiskCompound function is not used to generate random values from a specific distribution. It...

Claims Payout Modelling

This example models different types of insurance claims from different lines of business and sums them in order to calculate an estimated total claims paid...

Product Launch Model

TopRank recognizes @RISK distribution functions and incorporates them in What-If analyses. This ability provides more flexibility and accuracy in modeling the possible input values in...

Projecting Oil Prices

This model illustrates one possible way oil prices might change through time, as influenced by the market. @RISK's distribution fitting tool is used to simulate...

Oil Pipeline Risks

This model simulates risks in a network of oil pipelines. There are nine types of risks, and there are nine routes in the pipeline network....

Hospital Capacity

The purpose of this model is to see how many hospitals are required to accommodate all patients in various scenarios. The model assumes that patients...

2015 NCAA March Madness

According to ESPN Magazine, the NCAA tournament is one of the most wagered-on events in sports. Veteran bookmakers estimate bets range from $12 billion to...

World Cup Champion

The World Cup features 32 international soccer teams that are allocated into eight groups of four. Within each group, all four teams play against each...

Multinomial Distribution

'@RISK doesn't have a RiskMultinomial function but this example shows you how to generate such distribution by using the RiskBinomial function repeatedly.

RiskBeta Functions

The RiskBeta functions are a set of flexible functions for generating an uncertain quantity known to be between given minimum and maximum values. This example...

RiskCumul Function

The RiskCumul function provides a high degree of flexibility in describing the distribution of a continuous uncertain quantity. This example explains how to use it...

RiskDiscrete Function

This example explains how to use the RiskDiscrete function which is used when you want to model an uncertain quantity with a finite -- that...

RiskMakeInput Function

The RiskMakeInput function is listed in the @RISK Distributions group, but it doesn't really generate a distribution. This example explains how to use it for...

RiskUniform Function

The RiskUniform function generates a value that is equally likely to be anywhere between specified minimum and maximum values. This example shows how to use...

RiskVary Function

The RiskVary function is intended primarily for sensitivity analysis is @RISK's companion product, TopRank, but it is included in @RISK for compatibility with TopRank. You...

Bayesian Learning

This model uses @RISK to illustrate that when several people with different prior beliefs all see the same random outcomes and use Bayes' rule to...

Thumbnails

Illustrates how graphs of @RISK inputs/outputs can be included as "thumbnails" in cell comments.

Optimal Advertising

This example illustrates two uses of Evolver. In the Parameter Estimation sheet, historical monthly values of sales and advertising are used to estimate the parameters...

Chess Knight Moves

This model uses Evolver to check whether a chess knight can make 64 consecutive moves and hit each square exactly once. It doesn't optimize anything....

Gold Mine Optimization

A gold mining project is divided into five separate mines, each with unique geological characteristics and cost variables. These variables (input costs, declination rates, plateau...

Aggregate Planning

This model plans production over the next six months in the face of uncertain demand. The company produces three products, and these products compete for...

Line Balancing

This is a simplified model of a multistage manufacturing process. Each stage has a number of identical machines, and each machine can produce a random...

Supply Chain Disruptions

This model illustrates how disruptions at suppliers, such as weather, strikes, or others, can affect a supply chain, and how such disruptions can be mitigated....

When to Lower the Price

This model illustrates why companies lower their prices from time to time, that is, why they have sales. Essentially, it is because different customers have...

Worker Scheduling

A company is open from 7AM until 11PM each day of the week. Each of its workers must work 5 consecutive days, and each day...

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