@RISK

Are you ready to take your energy risk and portfolio management strategies to the next level? Join the Lumivero Energy @RISK Network to connect with industry professionals tackling shared challenges in energy risk. Learn practical approaches and explore advanced tools like Monte Carlo and risk analysis techniques. ?? Our next user group meeting is Thursday, December 12, at 11 a.m. EST / 5 p.m. CET. Don’t miss insights from?Glen Justis, Senior Partner at?Experience on Demand. ? Join our upcoming meeting:?https://lnkd.in/gEmCystz #Energy #RiskAnalysis #MonteCarloSimulation #RiskManagement #atRISK #Lumivero

What if you could not only predict change but thrive in it? The Secret to Predictable Forecast Models is your source of information for smarter, data-driven decisions. Our new ebook dives into probabilistic models—used by businesses to achieve exceptional outcomes. Inside, you'll explore: - Risk management strategies that help identify, assess, and mitigate potential risks. - Monte Carlo simulations that enable businesses to predict success or failure in various scenarios. - Real-world applications from finance, energy, and manufacturing, illustrating @RISK in action. - Time-saving processes that streamline operations and drive data-driven innovation. Discover how @RISK equips organizations to make informed, confident decisions and drive success. ?? Take the first step toward improving your business outcomes– download the eBook today: https://lnkd.in/gAKEQnSX #RiskManagement #Forecasting #MonteCarloSimulation #Ebook #ProbabilisticModels #atRISK #Lumivero

Join us for a dynamic webinar on boosting your cost estimation strategies with probabilistic models presented by Manuel Carmona! Discover how going beyond single-value estimates gives a fuller view of cost uncertainties, enabling smarter risk management. We'll dive into Monte Carlo simulations and parametric modeling to help you estimate cost ranges and probabilities, offering insights for better project planning. Plus, learn how to set contingency reserves for potential risks. Don’t miss this chance to enhance your decision-making toolkit with actionable, data-driven techniques! It's not too late, register today: https://lnkd.in/eW8-NH3D #RiskManagement #MonteCarloSimulations #atRISK #Lumivero #Webinar #CostEstimation

Join us for an eye-opening webinar on the power of probabilistic cost estimation presented by Manuel Carmona, Risk and Decision Analysis Specialist, MBA PMI-RMP, EdyTraining Ltd. Discover why probabilistic models outperform traditional deterministic methods by capturing cost uncertainties for more effective risk management. We’ll explore Monte Carlo simulations—a key technique for modeling a range of outcomes and accounting for variability in cost drivers. Learn how to use parametric models and expert insights to estimate cost ranges and probabilities that better reflect project complexity. Don’t miss out on actionable insights to improve project planning, calculate contingency reserves, and elevate your cost estimation strategies! Register today: https://lnkd.in/eW8-NH3D #RiskManagement #MonteCarloSimulations #AACEI #ProbabilisticCost #CostEstimation #Strategies #atRISK #Lumivero

Join Dr. Richard Bayney, Founder of Project & Portfolio Value Creation, as he demonstrates how to simplify budget decisions and portfolio selection with the #DecisionToolsSuite, including #Evolver and #RISKOptimizer. Learn to optimize project combinations while balancing key financial goals. Don't miss this essential webinar! Register today: https://lnkd.in/gRHenQyA #BioPharma #RiskManagement #Budgeting #atRISK #Lumivero

The importance of?Quantitative Risk Registers In any project, especially large-scale and technical ones, risks can impact timelines, budgets, and quality. A well-structured risk register provides a proactive approach to identifying, assessing, and mitigating these potential risks. Why Risk Registers Matter Risk registers help teams maintain a clear view of all potential risks. They enable structured categorization, documentation and management of risks, allowing stakeholders to prioritize and address issues before they escalate. Having a standard risk register is a good start, but a quantitative approach goes further. A quantitative risk register uses statistical analysis, simulation and data modelling to assign probabilities and financial impacts to risks. This data-driven insight allows leaders to make informed decisions, not based on assumptions but grounded in measurable factors. With quantitative assessments, teams can prioritize risks based on impact potential and likelihood, allowing for more efficient allocation of resources. When budgets and timelines are tight, prioritization ensures that high-impact risks are addressed first. By forecasting the potential financial impact of specific risks, quantitative registers provide a more realistic view of possible contingencies. This helps in setting a practical, well-founded budget that includes informed allowances for risk management. Quantitative risk registers also give stakeholders greater confidence, offering a transparent view of risks backed by precise metrics. This clarity provides alignment and reduces misunderstandings, ensuring all parties are aware of both challenges and mitigations. A quantitative approach allows for ongoing updates and adjustments as new data emerges, making it easier to adapt to changing project dynamics. This proactive management helps prevent small risks from turning into significant problems. Integrating a quantitative risk register doesn’t just add value—it builds resilience, enabling teams to navigate uncertainties with confidence. By quantifying and managing risks more effectively, you lay the groundwork for project success, securing timelines, budgets, and, ultimately, quality. I will be running two short training sessions where I will show how to build probabilistic risk registers for your projects using MsExcel and @RISK Software from Lumivero: In Spanish 12/11/24 at 17h CET ? In English 19/11/24 at 14h CET Interested in participating? send me a message and I will send you a reply with a link to join the webinar.

I recently took part in Turner & Townsend's Schools Mentoring Program with Year 10 students from Evans High School, Blacktown. The program is designed to broaden the skills of students in STEAM, provide pathways and enable opportunities for young individuals to enter the built environment. We introduced them to key segments at Turner & Townsend, including Infrastructure, Real Estate and Natural Resources. Through a program challenge for the SEQ 2032 Olympics, we explored how to create a Green, Inclusive, and Productive Olympic Games. Working through this challenge together was not only impactful for the students but also a valuable learning experience for me, as their fresh perspectives brought new energy and insights to the process. ? One of the most engaging experiences for me was demonstrating a Monte Carlo simulation using @RISK to the students, offering them a firsthand look at how we use data to predict a range of possible outcomes. ? Thank you, Turner & Townsend, for supporting this impactful program. Here's to empowering the next generation! #TTGreen #TTInclusive #TTProductive #TTMakingTheDifference #CorporateResponsibility

BioPharma budget season is approaching! This webinar will help you prepare. Dr. Richard Bayney, Founder of Project & Portfolio Value Creation, will show how BioPharma companies can effectively select portfolios and simplify complex budget decisions using Evolver and RISKOptimizer from the DecisionTools Suite. Learn to optimize project combinations within annual and multi-year constraints, balancing critical financial objectives like sales and cash flow. Ready to transform your portfolio selection process? Don’t miss this insightful session! Register today: https://lnkd.in/gRHenQyA #BioPharma #RiskManagement #Budgeting?#DecisionToolsSuite #atRISK #Lumivero #Webinar

Dive into the common pitfalls in assessing probabilities and the role cognitive bias plays in shaping our decisions. Timothy Nieman, Founder of Decision Applications will help you learn how to identify and minimize these biases to make more accurate risk assessments. Plus, take part in fun polls to explore your own biases! ?? Register here: https://lnkd.in/gRq6uTrV #RiskManagement #CognitiveBias #RiskModeling #Probability #Lumivero #atRISK

???Top @RISK Sessions from the Lumivero Virtual Conference!??? Our @RISK community showed the most interest in these top sessions, packed with practical insights: ??? Use Cases of @RISK in Multiple Industries ?? Deliver Your Projects on Cost and on Time with @RISK ?? Enhancing Project Scheduling by Combining @RISK and RISKOptimizer Don’t miss out on these powerful tools to enhance your project management and risk analysis. All sessions are available on-demand! Register here to watch:?https://lnkd.in/gzg9b6Mb. #RiskAnalysis #ProjectManagement #RiskManagement #atRISK #Lumivero #LumiveroVirtualConference