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Quantifying Risk with Simulation Using Oracle Crystal Ball

Monte Carlo simulation is a widely used technique for dealing with business uncertainty in applications like cost estimation, continuous improvement, engineering, and business forecasting. In this 10 minute segment, we illustrate why simulation is useful for these applications, and demonstrate how i
Monte Carlo simulation is a widely used technique for dealing with business uncertainty in applications like cost estimation, continuous improvement, engineering, and business forecasting. In this 10 minute segment, we illustrate why simulation is useful for these applications, and demonstrate how it works on a very simple cost-estimation model. The example shows how a single estimate of project cost is naïve regarding expectations and downside exposures of the company to the project.
Recorded Dec 27 2010
13 mins
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Presented by
Steve Hoye
Presentation preview: Quantifying Risk with Simulation Using Oracle Crystal Ball
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  • Title: Quantifying Risk with Simulation Using Oracle Crystal Ball
  • Live at: Dec 27 2010 10:00 pm
  • Presented by: Steve Hoye
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