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Palisade Risk and Decision Analysis Software

Introduction to Cost Estimation using @RISK

Complete risk and decision analysis toolkit, using Monte Carlo simulation

Cost Estimations are traditionally single point estimates, or even three-point estimates. In contrast, @RISK allows you to see a full range of possibilities of what could happen, and helps you quantify how likely something is to happen, giving a more realistic view of uncertainty. Cost Estimation questions that can be addressed include: What is the probability we will finish within budget? How much contingency should we have to have to be 80% confident that we will have enough money? Where should we focus our mitigation tehcniques to help minimize cost? In this webinar, we explore a basic Cost Estimation model to get you started in @RISK for Excel.

For over 30 years, Palisade software and solutions have been used to make better decisions. Cost estimation, NPV analysis, operational risk registers, portfolio analysis, insurance loss modelling, reserves estimation, schedule risk analysis, budgeting, sales forecasting, and demand forecasting are just some of the ways in which the tools are applied. This webinar will demonstrate how easy – and necessary – it is to implement quantitative risk analysis into a cost estimate.

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