The recent blog positing on best practices in Excel modelling could be thought of as providing a reasonable and robust set of principles for building static Excel models. When building simulation models for risk analysis in Excel (for instance, with @RISK Monte Carlo...
Software End User License Agreement Palisade Company, LLC Software End User License Agreement (“Agreement”) THIS IS A CONTRACT. PLEASE READ THIS AGREEMENT CAREFULLY BEFORE PURCHASING, DOWNLOADING, INSTALLING, OR USING THE SOFTWARE. BY PURCHASING,...
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...
This is a continuation of Part I in this series on Decision Tree Analysis. Life is full of tough choices. Most of us muddle through them using best guesses and gut feelings. But have you ever wondered if there might be a more sophisticated way to make decisions? Many...
Decision Trees Explained In our first post, we discussed how presenting objective, realistic models that show all possible scenarios helps manage expectations early in the litigation process, setting the stage for productive settlement discussions. In this post, we...
