Business Risk And Simulation Modelling In Practice
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Business Risk And Simulation Modelling In Practice
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Author : Michael Rees
language : en
Publisher: John Wiley & Sons
Release Date : 2015-08-05
Business Risk And Simulation Modelling In Practice written by Michael Rees and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-05 with Business & Economics categories.
The complete guide to the principles and practice of risk quantification for business applications. The assessment and quantification of risk provide an indispensable part of robust decision-making; to be effective, many professionals need a firm grasp of both the fundamental concepts and of the tools of the trade. Business Risk and Simulation Modelling in Practice is a comprehensive, in–depth, and practical guide that aims to help business risk managers, modelling analysts and general management to understand, conduct and use quantitative risk assessment and uncertainty modelling in their own situations. Key content areas include: Detailed descriptions of risk assessment processes, their objectives and uses, possible approaches to risk quantification, and their associated decision-benefits and organisational challenges. Principles and techniques in the design of risk models, including the similarities and differences with traditional financial models, and the enhancements that risk modelling can provide. In depth coverage of the principles and concepts in simulation methods, the statistical measurement of risk, the use and selection of probability distributions, the creation of dependency relationships, the alignment of risk modelling activities with general risk assessment processes, and a range of Excel modelling techniques. The implementation of simulation techniques using both Excel/VBA macros and the @RISK Excel add-in. Each platform may be appropriate depending on the context, whereas the core modelling concepts and risk assessment contexts are largely the same in each case. Some additional features and key benefits of using @RISK are also covered. Business Risk and Simulation Modelling in Practice reflects the author′s many years in training and consultancy in these areas. It provides clear and complete guidance, enhanced with an expert perspective. It uses approximately one hundred practical and real-life models to demonstrate all key concepts and techniques; these are accessible on the companion website.
Business Risk And Simulation Modelling In Practice
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Author : Michael Rees
language : en
Publisher:
Release Date : 2015
Business Risk And Simulation Modelling In Practice written by Michael Rees and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The complete guide to the principles and practice of risk quantification for business applications. The assessment and quantification of risk provide an indispensable part of robust decision-making; to be effective, many professionals need a firm grasp of both the fundamental concepts and of the tools of the trade. Business Risk and Simulation Modelling in Practice is a comprehensive, in-depth, and practical guide that aims to help business risk managers, modelling analysts and general management to understand, conduct and use quantitative risk assessment and uncertainty modelling in their own situations. Key content areas include: Detailed descriptions of risk assessment processes, their objectives and uses, possible approaches to risk quantification, and their associated decision-benefits and organisational challenges. Principles and techniques in the design of risk models, including the similarities and differences with traditional financial models, and the enhancements that risk modelling can provide. In depth coverage of the principles and concepts in simulation methods, the statistical measurement of risk, the use and selection of probability distributions, the creation of dependency relationships, the alignment of risk modelling activities with general risk assessment processes, and a range of Excel modelling techniques. The implementation of simulation techniques using both Excel/VBA macros and the @RISK Excel add-in. Each platform may be appropriate depending on the context, whereas the core modelling concepts and risk assessment contexts are largely the same in each case. Some additional features and key benefits of using @RISK are also covered. Business Risk and Simulation Modelling in Practice reflects the author's many years in training and consultancy in these areas. It provides clear and complete guidance, enhanced with an expert perspective. It uses approximately one hundred practical and real-life models to demonstrate all key concepts and techniques; these are accessible on the companion website.
Business Risk And Simulation Modelling In Practice
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Author : Michael Rees
language : en
Publisher: John Wiley & Sons
Release Date : 2015-08-03
Business Risk And Simulation Modelling In Practice written by Michael Rees and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-03 with Business & Economics categories.
The complete guide to the principles and practice of risk quantification for business applications. The assessment and quantification of risk provide an indispensable part of robust decision-making; to be effective, many professionals need a firm grasp of both the fundamental concepts and of the tools of the trade. Business Risk and Simulation Modelling in Practice is a comprehensive, in–depth, and practical guide that aims to help business risk managers, modelling analysts and general management to understand, conduct and use quantitative risk assessment and uncertainty modelling in their own situations. Key content areas include: Detailed descriptions of risk assessment processes, their objectives and uses, possible approaches to risk quantification, and their associated decision-benefits and organisational challenges. Principles and techniques in the design of risk models, including the similarities and differences with traditional financial models, and the enhancements that risk modelling can provide. In depth coverage of the principles and concepts in simulation methods, the statistical measurement of risk, the use and selection of probability distributions, the creation of dependency relationships, the alignment of risk modelling activities with general risk assessment processes, and a range of Excel modelling techniques. The implementation of simulation techniques using both Excel/VBA macros and the @RISK Excel add-in. Each platform may be appropriate depending on the context, whereas the core modelling concepts and risk assessment contexts are largely the same in each case. Some additional features and key benefits of using @RISK are also covered. Business Risk and Simulation Modelling in Practice reflects the author′s many years in training and consultancy in these areas. It provides clear and complete guidance, enhanced with an expert perspective. It uses approximately one hundred practical and real-life models to demonstrate all key concepts and techniques; these are accessible on the companion website.
Principles Of Financial Modelling
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Author : Michael Rees
language : en
Publisher: John Wiley & Sons
Release Date : 2018-03-19
Principles Of Financial Modelling written by Michael Rees and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-19 with Business & Economics categories.
The comprehensive, broadly-applicable, real-world guide to financial modelling Principles of Financial Modelling – Model Design and Best Practices Using Excel and VBAcovers the full spectrum of financial modelling tools and techniques in order to provide practical skills that are grounded in real-world applications. Based on rigorously-tested materials created for consulting projects and for training courses, this book demonstrates how to plan, design and build financial models that are flexible, robust, transparent, and highly applicable to a wide range of planning, forecasting and decision-support contexts. This book integrates theory and practice to provide a high-value resource for anyone wanting to gain a practical understanding of this complex and nuanced topic. Highlights of its content include extensive coverage of: Model design and best practices, including the optimisation of data structures and layout, maximising transparency, balancing complexity with flexibility, dealing with circularity, model audit and error-checking Sensitivity and scenario analysis, simulation, and optimisation Data manipulation and analysis The use and choice of Excel functions and functionality, including advanced functions and those from all categories, as well as of VBA and its key areas of application within financial modelling The companion website provides approximately 235 Excel files (screen-clips of most of which are shown in the text), which demonstrate key principles in modelling, as well as providing many examples of the use of Excel functions and VBA macros. These facilitate learning and have a strong emphasis on practical solutions and direct real-world application. For practical instruction, robust technique and clear presentation, Principles of Financial Modelling is the premier guide to real-world financial modelling from the ground up. It provides clear instruction applicable across sectors, settings and countries, and is presented in a well-structured and highly-developed format that is accessible to people with different backgrounds.
Simulation Modelling Practice And Theory
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Author : Evon M. O. Abu-Taieh
language : en
Publisher: Intechopen
Release Date : 2019
Simulation Modelling Practice And Theory written by Evon M. O. Abu-Taieh and has been published by Intechopen this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Computers categories.
The influx of data in the world today needs analysis that no one method can handle. Some reports estimated the influx of data would reach 163 zitabytes by 2025, hence the need for simulation and modeling theory and practice. Simulation and modeling tools and techniques are most important in this day and age. While simulation carries the needed work, tools for visualizing the results help in the decision-making process. Simulation ranges from a simple queue to molecular dynamics, including seismic reliability analysis, structural integrity assessment, games, reliability engineering, and system safety. This book will introduce practitioners, researchers, and novice users to simulation and modeling, and to the world of imagination.
Principles Of Financial Modelling
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Author : Michael Rees
language : en
Publisher: John Wiley & Sons
Release Date : 2018-07-10
Principles Of Financial Modelling written by Michael Rees and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-10 with Business & Economics categories.
The comprehensive, broadly-applicable, real-world guide to financial modelling Principles of Financial Modelling – Model Design and Best Practices Using Excel and VBAcovers the full spectrum of financial modelling tools and techniques in order to provide practical skills that are grounded in real-world applications. Based on rigorously-tested materials created for consulting projects and for training courses, this book demonstrates how to plan, design and build financial models that are flexible, robust, transparent, and highly applicable to a wide range of planning, forecasting and decision-support contexts. This book integrates theory and practice to provide a high-value resource for anyone wanting to gain a practical understanding of this complex and nuanced topic. Highlights of its content include extensive coverage of: Model design and best practices, including the optimisation of data structures and layout, maximising transparency, balancing complexity with flexibility, dealing with circularity, model audit and error-checking Sensitivity and scenario analysis, simulation, and optimisation Data manipulation and analysis The use and choice of Excel functions and functionality, including advanced functions and those from all categories, as well as of VBA and its key areas of application within financial modelling The companion website provides approximately 235 Excel files (screen-clips of most of which are shown in the text), which demonstrate key principles in modelling, as well as providing many examples of the use of Excel functions and VBA macros. These facilitate learning and have a strong emphasis on practical solutions and direct real-world application. For practical instruction, robust technique and clear presentation, Principles of Financial Modelling is the premier guide to real-world financial modelling from the ground up. It provides clear instruction applicable across sectors, settings and countries, and is presented in a well-structured and highly-developed format that is accessible to people with different backgrounds.
Operational Research In The Era Of Digital Transformation And Business Analytics
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Author : Nikolaos F. Matsatsinis
language : en
Publisher: Springer Nature
Release Date : 2023-04-04
Operational Research In The Era Of Digital Transformation And Business Analytics written by Nikolaos F. Matsatsinis and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-04 with Business & Economics categories.
This proceedings volume presents new methods and applications in Operational Research and Management Science with a special focus on Business Analytics. Featuring selected contributions from the XIV Balkan Conference on Operational Research held in Thessaloniki, Greece in 2020 (BALCOR 2020), it addresses applications and methodological tools or techniques in various areas of Operational Research, such as agent-based modelling, big data and business analytics, data envelopment analysis, data mining, decision support systems, fuzzy systems, game theory, heuristics, metaheuristics and nature inspired optimization algorithms, linear and nonlinear programming, machine learning, multiple criteria decision analysis, network design and optimization, queuing theory, simulation and statistics.
An Introduction To Project Modeling And Planning
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Author : Gündüz Ulusoy
language : en
Publisher: Springer Nature
Release Date : 2021-04-05
An Introduction To Project Modeling And Planning written by Gündüz Ulusoy and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-05 with Business & Economics categories.
This textbook teaches the basic concepts and methods of project management but also explains how to convert them to useful results in practice. Project management offers a promising working area for theoretical and practical applications, and developing software and decision support systems (DSS). This book specifically focuses on project planning and control, with an emphasis on mathematical modeling. Models and algorithms establish a good starting point for students to study the relevant literature and support pursuing academic work in related fields. The book provides an introduction to theoretical concepts, and it also provides detailed explanations, application examples, and case studies that deal with real-life problems. The chapter topics include questions that underlie critical thinking, interpretation, analytics, and making comparisons. Learning outcomes are defined and the content of the book is structured following these goals. Chapter 1 begins by introducing the basic concepts, methods, and processes of project management. This Chapter constitutes the base for defining and modeling project management problems. Chapter 2 explores the fundamentals of organizing and managing projects from an organization’s perspective. Issues related to project team formation, the role of project managers, and organization types are discussed. Chapter 3 is devoted to project planning and network modeling of projects, covering fundamental concepts such as project scope, Work Breakdown Structure (WBS), Organizational Breakdown Structure (OBS), Cost Breakdown Structure (CBS), project network modeling, activity duration, and cost estimating, activity-based costing (ABC), data and knowledge management. Chapter 4 introduces deterministic scheduling models, which can be used in constructing the time schedules. Models employing time-based and finance-based objectives are introduced. The CPM is covered. The unconstrained version of maximizing Net Present Value (NPV) is also treated here together with the case of time-dependent cash flows. Chapter 5 focuses on the time/cost trade-off problem, explaining how to reduce the duration of some of the activities and therefore reduce the project duration at the expense of additional costs. This topic is addressed for both continuous and discrete cases. Chapter 6 discusses models and methods of scheduling under uncertain activity durations. PERT is introduced for minimizing the expected project duration and extended to the PERT-Costing method for minimizing the expected project cost. Simulation is presented as another approach for dealing with the uncertainty in activity durations and costs. To demonstrate the use of the PERT, a case study on constructing an earthquake-resistant residential house is presented. Classifications of resource and schedule types are given in Chapter 7, and exact and heuristic solution procedures for the single- and multi-mode resource constrained project scheduling problem (RCPSP) are presented. The objective of maximizing NPV under resource constraints is addressed, and the capital-constrained project scheduling model is introduced. In Chapter 8, resource leveling, and further resource management problems are introduced. Total adjustment cost and resource availability cost problems are introduced. Various exact models are investigated. A heuristic solution procedure for the resource leveling problem is presented in detail. Also, resource portfolio management policies and the resource portfolio management problem are discussed. A case study on resource leveling dealing with the annual audit project of a major corporation is presented. Project contract types and payment schedules constitute the topics of Chapter 9. Contracts are legal documents reflecting the results of some form of client-contractor negotiations and sometimes of a bidding process, which deserve closer attention. Identification and allocation of risk in contracts, project control issues, disputes, and resolution management are further topics covered in this Chapter. A bidding model is presented to investigate client-contractor negotiations and the bidding process from different aspects. Chapter 10 focuses on processes and methods for project monitoring and control. Earned Value Management is studied to measure the project performance throughout the life of a project and to estimate the expected project time and cost based on the current status of the project. How to incorporate inflation into the analysis is presented. In Chapter 11, qualitative and quantitative techniques including decision trees, simulation, and software applications are introduced. Risk phases are defined and building a risk register is addressed. An example risk breakdown structure is presented. The design of risk management processes is introduced, and risk response planning strategies are discussed. At the end of the Chapter, the quantitative risk analysis is demonstrated at the hand of a team discussion case study. Chapter 12 covers several models and approaches dealing with various stochastic aspects of the decision environment. Stochastic models, generation of robust schedules, use of reactive and fuzzy approaches are presented. Sensitivity and scenario analysis are introduced. Also, simulation analysis, which is widely used to analyze the impacts of uncertainty on project goals, is presented. Chapter 13 addresses repetitive projects that involve the production or construction of similar units in batches such as railway cars or residential houses. Particularly in the construction industry repetitive projects represent a large portion of the work accomplished in this sector of the economy. A case study on the 50 km section of a motorway project is used for demonstrating the handling of repetitive project management. How best to select one or more of a set of candidate projects to maintain a project portfolio is an important problem for project-based organizations with limited resources. The project selection problem is inherently a multi-objective problem and is treated as such in Chapter 14. Several models and solution techniques are introduced. A multi-objective, multi-period project selection and scheduling model is presented. A case study that addresses a project portfolio selection and scheduling problem for the construction of a set of dams in a region is presented. Finally, Chapter 15 discusses three promising research areas in project management in detail: (i) Sustainability and Project Management, (ii) Project Management in the Era of Big Data, and (iii) the Fourth Industrial Revolution and the New Age Project Management. We elaborate on the importance of sustainability in project management practices, discuss how developments in data analytics might impact project life cycle management, and speculate how the infinite possibilities of the Fourth Industrial Revolution and the new technologies will transform project management practices.
Enterprise Risk Management
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Author : Stefan Hunziker
language : en
Publisher: Springer
Release Date : 2019-05-17
Enterprise Risk Management written by Stefan Hunziker and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-17 with Business & Economics categories.
This textbook demonstrates how Enterprise Risk Management creates value in strategic- and decision-making-processes. The author introduces modern approaches to balancing risk and reward based on many examples of medium-sized and large companies from different industries. Since traditional risk management in practice is often an independent stand-alone process with no impact on decision-making processes, it is unable to create value and ties up resources in the company unnecessarily. Herewith, he serves students as well as practitioners with modern approaches that promote a connection between ERM and corporate management. The author demonstrates in a didactically appropriate manner how companies can use ERM in a concrete way to achieve better risk-reward decisions under uncertainty. Furthermore, theoretical and psychological findings relevant to entrepreneurial decision-making situations are incorporated. This textbook has been recommended and developed for university courses in Germany, Austria and Switzerland.
Using Excel For Business And Financial Modelling
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Author : Danielle Stein Fairhurst
language : en
Publisher: John Wiley & Sons
Release Date : 2019-04-15
Using Excel For Business And Financial Modelling written by Danielle Stein Fairhurst and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-15 with Business & Economics categories.
A hands-on guide to using Excel in the business context First published in 2012, Using Excel for Business and Financial Modelling contains step-by-step instructions of how to solve common business problems using financial models, including downloadable Excel templates, a list of shortcuts and tons of practical tips and techniques you can apply straight away. Whilst there are many hundreds of tools, features and functions in Excel, this book focuses on the topics most relevant to finance professionals. It covers these features in detail from a practical perspective, but also puts them in context by applying them to practical examples in the real world. Learn to create financial models to help make business decisions whilst applying modelling best practice methodology, tools and techniques. • Provides the perfect mix of practice and theory • Helps you become a DIY Excel modelling specialist • Includes updates for Excel 2019/365 and Excel for Mac • May be used as an accompaniment to the author’s online and face-to-face training courses Many people are often overwhelmed by the hundreds of tools in Excel, and this book gives clarity to the ones you need to know in order to perform your job more efficiently. This book also demystifies the technical, design, logic and financial skills you need for business and financial modelling.