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Risk modelling with Excel @Risk
Excel @Risk is an Add-in to Excel made by Palisade Corporation. With an Excel-model as basis, @Risk can simulate and calculate figures which will assess the risk in the base calculations. So, the starting point for risk modelling with Excel is a model which captures the relationships between variables you want to model. In most…
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Risk modelling
The strategic decisions of a business are based on plans and assumptions about how the future will develop. These assumptions are more or less uncertain, in fact, the only thing that is certain that the outcome will not be exactly as expected. A plan and the financial estimates it contains is a modelled representation of…
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Risk modeling the budget
Using risk modeling in the budget process will contribute to turning the budget into more of a strategic tool for management, as it will provide significantly more information and decision support than what a traditional static budget will do. In traditional budgeting, the focus is on putting static assumptions on variables for the year or…
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Distinguish between events and estimates
Large public sector investment projects in Norway have to go through an established methodology for quality assurance. There must be an external quality assurance process both of the selected concept (KS1) and the projects profitability and cost (KS2). KS1 and KS2 Concept quality control (KS1) shall ensure the realization of socio-economic advantages (the revenue side…