Quantitative Risk Analysis - (3 days)
Duration: 3 full days
Minimum of 6 people and maximum of 20 people
This hands-on training course is designed to provide participants with a applied quantitative risk analysis (QRA) skills used in supporting improved decision-making in a variety of fields.
- Learn and practice the main principles and techniques in quantitative risk analysis
- Understand how to employ QRA to better understand risk and uncertainty and improve decision-making
- Learn to work with risk analysis modeling environments (in this case @RISK, Analytic Solver, or Crystal Ball with Excel, but the lessons apply equally well to other modeling environments)
- Learn how to conduct accurate and effective quantitative risk analysis, including best practices of risk modeling, selecting the appropriate distribution, using data and expert opinion, and avoiding common mistakes, while also discussing how to use QRA in decision-making
- Gain expert insight from EpiX Analytics’ vast experience consulting to large and small organizations worldwide.
As course attendees often come from a wide variety of fields and industries, participants will be asked to complete a questionnaire before the start of the class to make the material more relevant to their needs. Participants will also be asked to share example cases, data or models to be discussed during the class.
Who should attend?
Anyone in business, government and science with an interest in using quantitative risk analysis and probabilistic methods to improve decision-making and better manage risk. Examples include professionals and decision-makers in finance, marketing, operations, risk management, engineering, and project risk analysis.
Participants will receive a USB drive with all lecture notes and model files produced for the course. Participants will also have access to a web-drive where they will be able to retrieve course exercise files simultaneously as the instructor develops them during the class.
The course runs from 09:00 to 17:00 each day, but registrations on the first day begin at 8:30am. Morning and afternoon coffee and lunch are provided. The course will be delivered in English.
Prerequisites and required software
Participants will be primarily using @RISK, Analytic Solver, or Oracle Crystal Ball with Microsoft Excel to solve the exercises, and a PDF reader to open the course material. However, participants can also choose to use another Monte Carlo package of their choice. It is important that participants have basic working knowledge of Excel. However, no prior experience using simulation tools is required.
- Trial versions of @RISK can be found from Palisade's website
- Trail versions of Analytic Solver are available at Frontline's website
- Trials of Crystal Ball can be downloaded from Oracle's website.
As the trial licenses last only a few days, participants should install it only a few days before the course.
ModelAssist is a comprehensive risk analysis reference and is free of cost. This reference tool provides an in-depth explanation of all of the risk analysis methods introduced in this course and greatly complements the course material. ModelAssist can be accessed directly from our website.
All of EpiX Analytics' courses aim to help the participants understand risk analysis from the bottom-up, which is achieved through a relaxed, informal and interactive environment using plenty of examples and hands-on exercises where students apply and adapt what they have learned.
Our training courses provide an opportunity to develop or extend your professional network. We therefore arrange optional fun, interactive social events which take advantage of local attractions, cuisine, and culture. All social events are included in the course fee.
Lodging and transportation
Course participants must arrange their own accommodation. However, we will be happy to provide information and alternatives for your travel arrangements. After you complete your registration form, please let us know that you will need our help.
|* Early registration - 10% off registration (register and pay 30 days before course start date)|
|* Government/Academic - 5% off registration (Proof of eligibility requested after registration)|
|* Student - 25% off registration (Proof of eligibility requested after registration)|
|* Please contact us to obtain the discount code that you qualify for.
|3 registrants - 17% off total registration|
|4 registrants - 25% off total registration|
|5+ registrants - please contact us for special discount rate|
Please note that discount rates cannot be combined. Discounts exclude online courses via statistics.com and joint courses offered with other institutions.
Please contact us to inquire about courses not currently scheduled.
|Start Date||To be confirmed|
|Location||Boulder, CO, USA|