Can 17 risk managers double their money in just 2 days with no luck and using only quantitative risk analysis? Find out in this short case study. The problem To test how well quantitative risk analysis performs I wanted a real life situations, where odds were known and the stakes were high. National lottery looked… Continue reading Real life application of quantitative risk analysis, an excellent case study
This is a unique opportunity for high- and mid-level managers to discover the real benefits of risk management when making executive decisions. Take on the role of a member of the Board of a large Russian company and take part in this absorbing business game! Your task is to make it through a whole game year, using each turn to make important executive decisions, weighing up strategic, financial and operational risks.
The success of your business will depend entirely on the quality of your teamwork and risk analysis! The winning team is the one which is able to undertake a balanced risk evaluation and guarantee their company the maximum cash flow.
The aim of the game is to increase the value of your company by properly weighing up risks and making balanced investment decisions. The winning team is the one which manages to increase their company’s value the most after 4 rounds.
You can buy the whole game set, including playing cards, as well as the rules and models for playing the game independently or order one of our facilitated sessions.
The game is focused around risk modeling, requiring participants to identify and validate management assumptions, identify relevant risks, establish ranges and select possible distributions for each assumption, perform Monte Carlo simulation using free Vose ModelRisk and present the final results. All this has to be performed in limited time and with incomplete information… just like in real life. And just to add a little bit of drama, like in real life participants have to deal with unexpected “black swans” during the game.
This game is the result of collaboration between Risk-academy, Palisade, Institute for Strategic Risk Analysis (ISAR) and Deloitte. Together we have created an amazing business game to teach non-financial management and staff how to perform risk modeling on a day to day management decisions. You will have to play a role of an aircraft engine… Continue reading Risk Modelling Game 3.0