2019 ENERGY RISK MODELLING USING @RISK SOFTWARE

Tuesday, 3 December 2019
08:00 AM

Centre for Petroleum Energy economics and Law CPEEL University of Ibadan

Prof O E Olubusoye and others
Workshop
50,000

2019 ENERGY RISK MODELLING USING @RISK SOFTWARE

Benefits:

  • Detailed risk analysis.
  • Considerably more risk analysis alternatives
  • Informed decision making ability
  • Excellent corrective actions.
  • Enhanced data mining;
  • Interactive and results and out  and more

 

Techniques include:

  • Exploring the @RISK environment
  • Automatically generating meaningful information using the @RISK statistics functions
  • Using confidence levels (percentiles) to quantify the likelihood of an outcome.
  • Adding uncertainty to deterministic models
  • Justifying expert opinion using Alternate Parameters
  • Policy comparison
  • Correlation – its importance and implementation

 

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