Resources
The expansion of global supply chains has meant an exponential growth of the risk of disruptions to those networks. Organizations around the world are turning their eyes away from decision making processes based on single-point estimates, and viewing their risks and opportunities with more sophisticated techniques such as Monte Carlo simulation. Click here to read […]
Increased use of risk analysis in the form of quantitative risk management (QRM) and decision-making under uncertainty (DMUU) is helping organizations to be prepared for unforeseen risk. Click here to read the article.
Community services provider Arc of Yates utilizes simulation program to predict potential budget shortfalls Click here to read the article.
A South African infrastructure development company has used @RISK risk analysis software to ensure it attracts funding for projects to deliver basic community services that would otherwise be ‘unbankable’. Click here to read the article.
The pros and cons of energy systems have never been as critical as they are today. Energy sources, irrespective of how “green” they may or may not be, present associated risks: financial, environmental, personal, etc. Traditional thinking just assumes that “green-equals-good”, but there are strong considerations which must be applied when harnessing something as powerful […]
Risk is not an exact science, but there are specific trends that should impact decision makers. Click here to read the article.
In the world of reinsurance, accurately determining risk is critical. The application of Monte Carlo simulation is being considered more often in order to better prepare a variety of industries for a range of events. Click here to read the article.
This article discusses how organizations should take a more strategic approach to weather risk. Heffernan explains how Monte Carlo simulation can be used to help with flood planning, hurricane response, and even volcano mitigation planning. He also advises on the right strategy to implement quantitative weather risk analysis; which includes supplying evidence; communicating clearly; illustrating […]
This case study takes a biofuel plant as an example where @RISK models the project's Net Present Value (NPV), PrecisionTree informs strategic scenario decision-making, and Evolver suggests plant optimisation strategies. Click here to read the article.
Craig Ferri provides a list of guidelines for implementing Quantitative Risk Management (QRM) and Decision Making under Uncertainty (DMU). Click here to read the article.
In this byline, Randy Heffernan outlines risk management best practices to ensure the success of software projects and shares tips for crafting effective risk management strategies. He discusses how to effectively calculate and manage risk and explains the significance of the concept of probabilities. Click here to read the article.
In this article, Randy Heffernan is quoted on the emerging risk management software market. The article discusses the appeal of risk management software to large enterprises and talks about the current state of risk management market and its possible future. Click here to read the article.
