Most project based organisations that use some form of QRA do so to calculate confidence and contingency during business case preparation and the competitive tendering stage of their projects. However,...
In an increasingly competitive and cost-sensitive environment, CROs need to be better informed on how risky a particular bid price might be (the probability of making a profit or loss)....
Press Release: 3 February 2011 Femern A/S, the Danish Government-owned company created to build the 11 mile fixed link between Denmark and Germany, used Risk Decisions’ risk management software, Predict!, to assess the impact...
Monte Carlo simulation uses repeated random sampling to calculate results about physical and mathematical systems. It uses uncertainty in its inputs to generate a range of possible outcomes, which are…
