Introduction to Optimization Under Uncertainty with RISKOptimizer

Presented by

Rafael Hartke, CEO of Imagine Risks and Analytics

About this talk

Optimization is a very important tool in business decisions, but there's a huge difference in outcomes if the business environment deviates from the assumptions used to optimize the strategy. In this webinar we will demonstrate how to run optimization analyses under a context of uncertainty, using optimization in connection with Monte Carlo simulation, in order to find an decision strategy that is both optimized and robust in face of an uncertain future. For example, how to optimize an investment strategy under uncertain project results (revenues, costs) and uncertain resource constraints (availability of resources, cost of resources). We will show the difference between deterministic and stochastic optimization, and we can develop much more robust strategies by accounting for uncertainties in the models.

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Palisade Company is the world’s leading provider of risk and decision analysis software solutions for science and industry. Our array of software products and custom services enhance the management experience by combining the latest in cutting-edge technology with over 35 years of analytics experience. Palisade’s unified software platform helps clients increase margins, improve performance, expand market share, and maximize operational efficiencies. We have a very simple mission: to minimize risk while maximizing potential.