Resources
Actuaries face similar challenges every day when calculating requirements for pension funds, life insurance, or long-term care. A research study provides a model for projecting economic indices such as interest rates, equity price levels, inflation rates, unemployment rates, and real estate price levels. The model was constructed in @RISK and is available on two actuarial society websites.
ENGCOMP used @RISK for cost and schedule risk analysis for the Canadian Department of National Defence's Fleet Maintenance Facility Cape Breton located at the Canadian Forces Base Esquimalt, Victoria, BC.
Decision makers for all long-term investment pools face a critical challenge: Multi-year allocation among the various available asset categories. By incorporating longer time horizons and probability functions associated with asset classes, analysts at FiduciaryVest used @RISK to answer questions that cannot be addressed using static or optimized financial models.
When global direct sales giant Amway prepared to get even bigger, their Industrial Engineering team called on Palisade to create a strategic tool based on @RISK to improve a crucial aspect of their business – long-range capacity planning for their extensive manufacturing operations.
Liquid eggs are used as an ingredient in many foods around the world. The risk of Listeria bacteria in eggs, which can lead to illness or even death, is a serious threat to a crucial food source. Kewpie Corporation, a major Japanese producer of liquid eggs, researched the risks of these bacteria in cooperation with the University of Tokyo. The researchers used Palisade’s @RISK software to accurately measure the risks, resulting in vital findings for the food safety industry.
In a sector that faces many risks, engineering and construction services company Murray & Roberts takes a cash flow based approach to enterprise risk management (ERM). Using @RISK from Palisade enables it to simulate the risk scenarios identified in order to advise on the most effective mitigation strategies and controls.
Dr. Kim Bang Salling's graduate students at Technical University of Denmark use @RISK to incorporate uncertain elements into decision-support models for transportation projects.
A Cranfield University project uses @RISK to calculate the likelihood of sub-sea oil and gas equipment failure, and the overall cost throughout the project life cycle, should it do so. The project provided evidence to business managers that a better ROI is achieved through enhancing a product's longterm reliability as a result of spending time and resources early in the product design lifecycle.
A researcher at Katharinenhospital in Stuttgart, Germany uses NeuralTools for historical classifaction and grading of tumors, an important aspect of diagnosis since the treatment and outcome of each case depends greatly on the assigned grade.
Deloitte Actuarial and Insurance Solutions (AIS) is a specialist insurance and actuarial consulting team, based in South Africa, which operates in more than 40 countries worldwide. Their remit is to provide advanced analytical solutions that enable the financial well-being and solvency of their clients, who include many life and short-term insurers across the African continent, as well as energy and resource companies. Deloitte AIS used Palisade’s @RISK to construct financial models that captured the inherent risks in the liabilities and assets for one of their clients in the mining industry, and subsequently enabled that client to save billions of South African rands.
Albert Fensterstock used Palisade’s NeuralTools software to help Business Backer, a lending company, begin refining their decision-making process.
The IUCN-World Conservation Union’s Conservation Breeding Specialist Group uses @RISK and PrecisionTree in ongoing workshops to help conservationists identify and analyze the risks of disease in their efforts to protect endangered animals.
