Risk matrices are widely used in risk analysis to account for the effects of external factors or rare/extreme events that may occur within a project. Typical industry cases include models for CAPEX, budgeting, production curves/targets, and schedules.
We'll present how to use @RISK to move forward from a qualitative risk matrix (usually a matrix listing risks, probabilities, and impacts) towards a quantitative risk valuation, including the simulation of future scenarios, the estimation of proper contingencies for the risks (time, budget, etc.), the effects of mitigation strategies and their costs