Quantitative Risk Analysis - (3 days)

Duration: 3 full days

Minimum of 6 people and maximum of 20 people

Course overview

 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.
Course content
Course customization

Course attendees often come from a wide variety of fields and industries. Therefore, course participants will be asked to complete a questionnaire before the start of the class to make the QRA course more effective and tailored to the participants’ needs. In addition, participants are 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.

Training material

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.

Course format

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.

As the trial licenses last only a few days, participants should install it only a few days before the course.

Free ModelAssist

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 websitewebsite.

Teaching Philosophy

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.

Social events

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.

Registration Discounts

Please contact us to obtain a code for the discounts below, or to discuss a special rate when registering 5 or more people. Discounts for groups of 3 or 4 people are applied automatically at registration. Discount rates cannot be combined.

* 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)

Use our contact form if you are interested in a course not currently in our schedule.

Registration details

Start Date To be confirmed
Capacity Unlimited
Cost $2,140.00
Location Boulder, CO, USA

Group Rate

#Registrants Rate/Person ($)
3 1,776.20
5 1,605.00