This live Excel presentation will demonstrate how to:
- frame a Value of Imperfect Information evaluation of a drilling problem,
- quantify the frame in a risk model (SIPmath) using continuous variables,
- solve the problem frame using simulation to establish the decision policy and
- explain how we reduce downside and possibly increase the upside.
We will complete the model together and extract insights from the analysis.
We will make changes to the analysis based on Subject Matter Experts (SMEs) inputs by altering the model and updating the decision policy and insights. The model structure and detail is apparent to enable you to structure your own SIPmath simulation model.
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Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!
ISO31000 Integrating Risk Management
Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.
Advanced Risk Governance
This course gives guidance, motivation, critical information, and practical case studies to move beyond traditional risk governance, helping ensure risk management is not a stand-alone process but a change driver for business.
