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When modeling risk events, it is common that several events could affect the same cost element of a project. During the simulation, two or more risk events can occur at the same time. The question becomes how to calculate the total impact. This type of modeling...
Webinars Watch experts apply quantitative risk analysis to models in Excel, with @RISK and the DecisionTools Suite Upcoming Webinars Learn how to perform risk and decision analysis in Excel using Palisade software, at your convenience. Our 60-minute webinars give you...
This article offers a simple and concise explanation of the Monte Carlo simulation: a technique that combines statistical concepts (random sampling) with the ability of computers to generate pseudo-random numbers and automate calculations. The key to Monte Carlo...
@RISK allows you to use historical data to fit data to a probability distribution. The process is very simple: first select the range where the data is located, and then select the Distribution Fitting button. @RISK will guide through the fitting process where you can...
