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Monte Carlo Simulation and Human Risk

Monte Carlo Simulation and Human Risk

The article explores 3 examples of Monte Carlo simulation technology applied for non-business uses: Hurricane Katrina call center, Guatemala volcano evaluation, and pandemic preparation. Click here to read the article.
The analytical business of innovation: DMUU at Unilever

The analytical business of innovation: DMUU at Unilever

Innovation is the lifeblood of most enterprises – and given the inherent high uncertainty, a high level of decision quality is essential.  Many parties are involved in the decision-making process, and often they have conflicting values, motivations, perspectives, personalities and power bases.  These organisational issues are reinforced with ...
New ERM software programs offer increased speed and usability

New ERM software programs offer increased speed and usability

In light of evolving demands from customers, makers of enterprise risk management software programs are reworking their offerings with an emphasis on increased speed and usability. Randy Heffernan, vice president of Palisade, is quoted in the article. Click here to read the article.
Alternative Energy eMagazine, June/July 2012

Alternative Energy eMagazine, June/July 2012

Alternative Energy eMagazine interviewed Randy Heffernan, Vice President of Palisade, about risk analysis in the energy industry. The article highlights FutureMetrics’ use of @RISK to hedge wood prices in the production of burning wood pellets. Click here to read the article.
Monte Carlo Simulation Means Quantifying Logistics Risks Doesn’t Have to Be a Gamble

Monte Carlo Simulation Means Quantifying Logistics Risks Doesn’t Have to Be a Gamble

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 ...
Knowledge (of the Unforeseen) is Power: The Necessity of Risk Analysis in Enterprise

Knowledge (of the Unforeseen) is Power: The Necessity of Risk Analysis in Enterprise

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.
Measuring and Mitigating Risk

Measuring and Mitigating Risk

Community services provider Arc of Yates utilizes simulation program to predict potential budget shortfalls Click here to read the article.
South African firm uses risk analysis software for ‘unbankable’ projects

South African firm uses risk analysis software for ‘unbankable’ projects

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.
Det Norske Veritas (DNV) uses @RISK to Identify Risks in Energy Systems

Det Norske Veritas (DNV) uses @RISK to Identify Risks in Energy Systems

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 ...
Risk Management Trends: 2011 and 2012

Risk Management Trends: 2011 and 2012

Risk is not an exact science, but there are specific trends that should impact decision makers in the year to come. Click here to read the article.
When Calculating Risk for Reinsurers, Consider Monte Carlo

When Calculating Risk for Reinsurers, Consider Monte Carlo

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.
Analyzing Weather Risk: A Quantitative Approach

Analyzing Weather Risk: A Quantitative Approach

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 ...

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