Analyzing and Managing Risky Investments - Campbell
@RISK Bank Credit Analysis - Nersesian
Coping with Risk in Ag. - Hardaker et al.
Corporate Financial Risk Management - Nersesian
Decision Making Under Uncertainty - Winston
Decisions Involving Uncertainty - Murtha
Dynamic Scheduling with Microsoft Project 2003 - Uyttewaal
Effective Risk Management - Conrow
Financial Models - Winston
Financial Models II- Winston
Wayne Winston Book Bundles
Financial Risk Analysis of Infrastructure Debt - Jones
Introduction to Risk Analysis- Byrd
Managing Risk in Organziations - Frame
Practical Management Science - Winston & Albright
Probability Methods for Cost Uncertainty Analysis - Garvey
Risk Analysis, A Quantitative Guide - Vose
Risk and Decision Analysis in Projects - Schuyler
Simulation Modeling and Analysis - Law & Kelton
Simulation Modeling Using @RISK - Winston
Statistical Distributions, 3rd Edition - Evans et al.
VBA for Modelers - Albright
Home > Palisade Products > Books > Risk Analysis Books

Risk Analysis Books


Analyzing and Managing Risky Investments -
PAL No. 078, £69.95
Campbell, John M. Jr., Campbell, John M. Sr., and Campbell, Robert A.
The rapidly growing area of formal risk assessment and management challenges those making investment decisions to approach the problem differently. Multiple texts document the tools and methodology of formal risk assessment quite successfully. This book addresses the broader issue of integrating modern risk methods with financial engineering and modern decision sciences to develop a logical, orderly decision process, suitable for individuals or large organisations. The discussion treats formal risk and optimisation methods within a holistic framework of decision-making, allowing the reader to understand that the process and metrics for valuing investment opportunities varies significantly between individual projects, business units or assets, and the enterprise.

Many DecisionTools techniques are implemented throughout the book, including Monte Carlo simulation, optimisation, optimisation with simulation, and decision trees. The book is full of discussions of how these techniques are applied to investment decisions. Concepts and examples discussed can be used directly with @RISK, Evolver, RISKOptimizer, and PrecisionTree.

The book provides an excellent reference for those familiar with risk and optimisation concepts, by including detailed examples of actual applications to real world projects, from simple decisions to multibillion dollar international applications. Though the concepts and techniques discussed are applicable to and intended for any investment situation, examples include those from the petroleum industry. Those new to the subject discover enough information to understand the power of the modern approaches, with enough insight into the language and practice of risk to move on to more detailed texts. Managers responsible for designing and implementing investment decision processes in their organisation will find the lessons invaluable. HC, 485 pp.



@RISK Bank Credit Analysis - PAL No. 059, £37.50

Nersesian, Roy L.
Credit analysis is important for any bank or financial institution. Traditional credit analysis involves looking at best, worst, and most likely cases. If it sounds like this method is ripe for @RISK, you're right! This book applies Risk Analysis with @RISK 4.5 to traditional credit analysis. @RISK provides the one thing that is lacking in conventional credit analysis - the dynamism of change and its impact on the financial capacity of a borrower to repay a loan. The book is evenly split between developing the reader's ability to handle @RISK commands, and the application of these skills to analysing a project financing model and a general corporate credit risk analysis. Other topics covered include deriving an insurance premium, buy vs. lease decisions, project evaluations, protecting a loan through hedging, market research, maximising revenue, and determining a royalty and tax structure. The book has been successfully used in MBA courses at Columbia University. All examples covered in the book are included on disk. Anyone working in a financial institution, university, or interested in applications of Risk Analysis with @RISK will find the methods described in this book to be invaluable. SC, 250 pp.

Get any 2 Nersesian workbooks for £60! Save £15!
Or any 3 for £80! Save £32!
Or all 4 for £105! Save £45!
Choose from Evolver - Solutions for Business, RISKOptimizer for Business Applications, What'sBest! Linear Programming, and @RISK Bank Credit and Financial Analysis.
Call +44 1895 425050 or 0800 783 5398 (UK Freephone) to order your bundle!


Coping with Risk in Agriculture
PAL No. 069, £29.95
J.B. Hardaker, R.B.M. Huirne, J.R. Anderson, and G. Lien
This book is a great introduction to risk analysis and decision making under uncertainty in agriculture. It is designed to show you how to deal with real-world risks such as production, weather, crop, livestock, pests, government, price, and market uncertainties. A balanced combination of theory and practice, the book describes the concepts of rational choice and its foundations in theories of probability and risk preference. But it also contains many examples, and has been adopted by both undergraduate and graduate programmes in agricultural economics, farm management, and business. And it utilises Palisade software, including @RISK, RISKview, and BestFit. In addition, the optimisation and decision tree techniques described may be used with Evolver and PrecisionTree!  SC, 332 pp.


Corporate Financial Risk Management
PAL No. 086, £33.99
Roy L. Nersesian
In Corporate Financial Risk Management, Roy L. Nersesian provides a straightforward, business-focused guide to understanding, modelling, and dealing with risk. The book provides real-world examples that use Microsoft Excel and Palisade’s @RISK for Excel, BestFit, and RISKOptimizer to model complex and highly uncertain business situations.

Risk factors beyond management control may mean the difference between profitability and financial catastrophe. The book provides strategies for dealing with day to day uncertainties of commodity pricing, currency exchange rates, borrowing interest rates, and the weather. Detailed examples of project financing, new product development, and price and sales volume variations are used as illustrations.

In most businesses risk analysis is assigned to specialists with advanced training and complex tools. Corporate Financial Risk Management opens up the field to anyone with moderate analysis and computer skills.

The book culminates with a novel cost-benefit analysis technique for modelling swaps (a contracted price stabilisation technique) as well as the use of insurance as a substitute for swaps. The use and power of Palisade’s @RISK for Excel, RISKOptimizer, and BestFit applications are well demonstrated and documented.

Written for anyone charged with analysing the economic opportunities and consequences associated with uncertain situations, Corporate Financial Risk Management provides readers with solid tactics, processes, and tools for analysing, managing, and profiting from financial risk. HC 223pp


Decision Making Under Uncertainty with RISKOptimizer
PAL No. 068, £29.95
Winston, Wayne
In Decision Making Under Uncertainty with RISKOptimizer, Wayne Winston, author of Palisade's best-selling Financial Models Using Simulation and Optimization once again offers models and techniques to find the best answers to business problems affected by uncertainty. Winston harnesses the power of Microsoft Excel along with Palisade's RISKOptimizer to solve business problems in areas such as inventory management, product mix decisions, capital budgeting, scheduling and more! Using Genetic Optimisation and Monte Carlo simulation, optimal answers to previously unsolvable problems are now found! Managers from any industry will reap the benefits from this book. More than 30 example models ranging from job shop & production scheduling to retirement planning and options pricing are provided on the included CD-ROM as well. A trial version of RISKOptimizer, described by PC World as "a uniquely versatile business problem-solver" and "for many business problems, the most practical power tool around", is also included with the book. To read more about Decision Making Under Uncertainty with RISKOptimizer, click here. Also, don't miss the Winston Book Bundle listed below!


Decisions Involving Uncertainty:
An @ RISK Tutorial for the Petroleum Industry
PAL No. 024, £45.00
Murtha, James
A great extension of Murtha's highly successful seminars on the use of @RISK in the petroleum industry. You start here with 2 chapters to get up to speed on the philosophy of risk analysis and the requisite principles in probability, statistics, and Monte Carlo simulation. Following are the basic steps you'd take to actually build, run, and interpret results for a real risk analysis model in @RISK. To make it as hands-on as possible, Murtha includes lots of petroleum examples - an accompanying disk includes all these examples pre-built in Excel worksheets. Volumetric reserves, exponential decline, porosity and water saturation, waterflood prospect, and competitive bidding are some of the examples. This is a rare offering in that you'll learn about the concepts of risk analysis while also getting some very solid hands-on experience with risk analysis modelling in @RISK 4.5. SC, 150 pp To read more about Decisions Involving Uncertainty, click here.


Dynamic Scheduling with Microsoft Project 2003
PAL No. 082, £37.95
Uyttewaal, Erik
Dynamic Scheduling with Microsoft® Office Project 2003: The Book By and For Professionals, is based on the cumulative experience of the author, his clients, and other instructors, and includes insights from numerous other professionals who have used MS Office Project successfully. This unique guide gives a complete picture of how to achieve the best results with Microsoft Project.

This fully revised new edition of Eric Uyttewaal's best-selling book does more than describe the features of Microsoft Project. The author recommends certain features and argues against others - giving you a complete picture of how to use Microsoft Office Project 2003 to build a dynamic schedule that meets your need, not just once, but continuously. SC 575 pp.

Key features:
    Fully aligned with the PMBOK 2004 edition,
    Teaches how to build dynamic, easy-to-maintain project models,
    Provides a checklist for good models of your project,
    Provides many helpful screen illustrations, diagrams, stories, cartoons, review questions, case studies, and hands-on exercises to help make the learning process easy for all user levels,
    An excellent companion for @RISK for Project users!

About the author: Eric Uyttewaal, PMP is Executive Director, Microsoft EPM Division, International Institute for Learning, Inc (www.iil.com)


Effective Risk Management - Some Keys to Success
PAL No. 074, £49.95
Edmund H. Conrow
The second edition of Dr. Conrow's book provides more than 700 tips to succeed and traps to avoid collected over a 20+ year period of implementing and evaluating project risk management. More than just a list of ideas, it provides solid fundamentals for each risk management process step, as well as numerous organisational and behavioural considerations, that can immediately improve any risk management process. Multiple approaches are provided in numerous places to permit the reader to "pick and choose" the approach best suited for their project. Examples are also provided to help the reader better understand and immediately apply the material to their project. The book can be used by every level of practitioner from novice to expert, and help you evaluate, tailor, and implement risk management on your project. The use of probability distributions and Monte Carlo simulation is covered, and includes lessons from work for industry, government, and commercial projects.

According to Dr. Lawrence D. Pohlmann, in the January 2004 issue of International Council on Systems Engineering journal INSIGHT, “The greatly expanded content and added usability feature have effectively transformed the second edition into an advanced risk management handbook”. HC 554pp.

About the author: Dr. Conrow is a risk management and project management consultant with 20+ years experience; on hardware-intensive, software-intensive, and mixed projects, with life cycle dollar ranges from several million dollars to many billion dollars. Dr. Conrow has served as a risk manager and mentor to risk managers on a number of programmes, and has held long-term risk management and project management assignments where he has been responsible for making risk management work on a variety of programmes. Click here for more information about Dr. Conrow's consulting services.


Financial Models Using Simulation and Optimization
PAL #067, £39.95
Winston, Wayne
Financial Models
is the most in-depth book written about using @RISK, Evolver and other DecisionTools software products to solve today's complex financial problems. The applications of simulation and optimisation in the book are new, novel approaches to options pricing, portfolio optimisation, acquisitions modelling, VAR (value-at-risk) and more!

Financial Models features years' worth of experience in setting up and solving complicated financial problems using Microsoft� Excel� and DecisionTools software. Learn valuable analytical techniques that help you get the most out of @RISK, Evolver, PrecisionTree� and TopRank�. Over 60 example problems show step-by-step how to set up and analyse each model. This is a practical, step-by-step guide that you can use immediately to build the models that you need!

The models in the book have been used at executive training classes at major corporations, including GM, NCR, PriceWaterhouseCoopers, and Bristol-Myers Squibb. All the models are included on CD-ROM along with trial versions of DecisionTools software. To read more about Financial Models, click here. Also, don't miss the Winston Book Bundle listed below.


Also available:
Book bundles
including this book.
see below

Financial Models Using Simulation and Optimization II
PAL No. 081, £39.95
Wayne Winston
First published in 1998, Financial Models Using Simulation and Optimization quickly became one of the most widely used references for the application of simulation and optimisation techniques to financial problems. Now, author Wayne Winston has done it again with a totally new volume! Financial Models II is packed with real-life examples that demonstrate how @RISK, Evolver and Excel can be used to make better financial decisions. Winston's straightforward, step-by-step approach makes his innovative techniques accessible to anyone who uses Microsoft Excel.

Like its predecessor, Financial Models II features years' worth of experience in setting up and solving complicated financial problems using Microsoft Excel and DecisionTools software. You will learn valuable analytical techniques that will help you get the most out of @RISK, Evolver, and Excel. A wide variety of financial examples are presented and solved step-by-step in over 65 chapters. This isn't a book of long-winded theoretical discussions. It's a practical, step-by-step guide that you can use immediately to build the models that you need! Click here to read more about Financial Models Using Simulation and Optimization.


Wayne Winston Book Bundles

PAL No. 067-081
£65.00 - Save £15
Financial Models Using Simulation and Optimization I
Financial Models Using Simulation and Optimization II

PAL No. 067-068-081
£90.00 - Save £20
Financial Models Using Simulation and Optimization I
Financial Models Using Simulation and Optimization II
Decision Making Under Uncertainty with RISKOptimizer


Financial Risk Analysis of Infrastructure Debt:
The Case of Water and Power Investments
PAL No. 008, £45.00
Jones, C. Vaughn
Concept and practice come together nicely in this well written discussion of financial risk associated with investment in big construction projects. The author used @RISK extensively to carry out his analyses and strongly advocates the use of simulation. A must for those of you working directly in utilities and water resource projects. We also highly recommend it for others who are working with financial/economic analysis for very large projects (where the risk cannot be easily diversified through standard portfolio methods). The author has successfully brought together material from business, engineering, economics, demography, probability theory, computer simulation, and policy. This book convincingly shows by example how traditional deterministic analysis can be dangerously misleading. HC, 153 pp


Introduction to Risk Analysis: A Systematic Approach to Science-Based Decision Making
PAL No. 077, £59.95
Daniel M. Byrd III and C. Richard Cothern
Introduction to Risk Analysis: A Systematic Approach to Science-Based
Decision Making provides readers with the first comprehensive,
integrated guide to developing a complete environmental risk analysis
for regulated substances and processes.

Written for safety and loss-control, environmental, and quality
managers, Introduction to Risk Analysis provides a practical
introduction to the concepts of risk and its analysis. Unlike other
books, Introduction to Risk Analysis looks at risk from a regulatory
perspective, allowing both professionals in regulatory agencies
concerned with risk including OSHA, EPA, USDA, DOT, FDA, and state
environmental agencies. It enables professionals in any agency-regulated
industry to understand and implement the methods required for proper
risk assessment.

Authors Daniel M. Byrd, III, and C. Richard Cothern examine risk and the
structure of analysis. Emphasising the predictive nature of risk, they
discuss the quantitative nature of risk and explore
quantitative-analysis topics, including data graphing, logarithmic
thinking, risk estimating, curve fitting and Monte Carlo simulation.
Many of the techniques described can be implemented with @RISK and

Chapters include discussions on functions, models, and uncertainties;
the regulatory process; risk assessment; exposure; dosimetry;
epidemiology; toxicology; risk characterisation; comparative risk
assessment; ecological risk assessment; risk management; and risk
communication. Six in-depth case studies, an annotated bibliography, and
over 50 figures are also included. HC, 433 pp.

About the Authors: Daniel M. Byrd, III, is President of Consultants in
Toxicology, Risk Assessment and Product Safety in Washington, DC. He has also worked in the Office of Chemical Control, the Office of Pesticide
Programs, the Carcinogen Assessment Group, and the Science Advisory
board at the U.S. Environmental Protection Agency. He also provides
risk consulting services using @RISK (click here for his contact info).

C. Richard Cothern is a professor of Engineering Management and
Chemistry at the George Washington University and a professor of
Technology and Management at the University of Maryland's University
College. Dr. Cothern spent 19 years with the EPA working for the Center
for Environmental Statistics, the Science Advisory Board, the Offices of
Drinking Water, and the Office of Pollution Prevention and Toxic
Substances. Both have been professionally involved in this area for over
20 years.


Managing Risk in Organizations
PAL No. 087, £29.50
J. Davidson Frame
Managing Risk in Organizations offers a proven framework for handling risks across all types of organisations. In this comprehensive resource, David Frame— a leading expert in risk management— examines the risks routinely encountered in business, offers prescriptions to assess the effects of various risks, and shows how to develop effective strategies to cope with risks. In addition, the book is filled with practical tools and techniques used by professional risk practitioners that can be readily applied by project managers, financial managers, and any manager or consultant who deals with risk within an organisation. Managing Risk in Organizations is filled with illustrative case studies and:

  • Outlines the various types of risk: pure, operational, project, technical, business, and political
  • Reveals what risk management can and cannot accomplish
  • Shows how to organise risk management efforts to conduct risk assessments, manage crises, and recover from disasters
  • Includes a systematic risk management process: risk management planning, risk identification, qualitative impact analysis, quantitative impact analysis, risk response planning, and monitoring control
  • Provides quantitative and qualitative tools to identify and handle risks
  • This much-needed book will enable organisations to take risk seriously and act proactively.

About the Author: J. Davidson Frame is Dean of Academic Affairs at the University of Management and Technology (UMT) in Arlington, Virginia. Prior to joining UMT, he established the project management programme at George Washington University. He also served as director of the Project Management Certification Program at the Project Management Institute (PMI) and has served on PMI’s board of directors. Frame has authored more than forty articles and seven books.

Managing Risk in Organizations provides a compendium of information, techniques and tools for managing risk. It is essential reading for new managers and corporate analysts who deal with uncertainty.


Practical Management Science: Spreadsheet Modeling
and Applications
PAL No. 071,£54.95
Wayne L. Winston and S. Christian Albright
Used widely by MBA and other business programmes, this book is a very thorough guide to formulating and solving real-world business problems through spreadsheet modelling. We liked the book�s straightforward, teach-by-example approach, and we were impressed by its comprehensive coverage of issues facing business today. Chock full of examples, the book covers finance, human resources, marketing, product mix, scheduling, strategic planning, demand forecasting, operations management and more. The book uses @RISK extensively, devoting nearly 70 pages to it! It also demonstrates how to use optimisation with What�sBest! and Excel�s Solver, using examples which may also be applied to Evolver. And, the section on decision trees may be used with PrecisionTree as well! HC, 953 pp.

“I am an Assistant Professor and review most of the new books that deal with OR/MS. None of those can even come close to the quality of this book.” — D. Cordova, San Juan, PR


Probability Methods for Cost Uncertainty Analysis:
A Systems Engineering Perspective
PAL No. 088, £93.10
Paul R. Garvey, The MITRE Corporation
Probability Methods for Cost Uncertainty Analysis; A Systems Engineering Perspective offers a careful blend of theory and practice, providing a comprehensive approach for assessing the impact of unplanned events on the cost of engineering modern complex systems.

Containing over 700 references, equations, and illustrations, and providing more than 100 theoretical and applied exercises, Probability Methods for Cost Uncertainty Analysis is suitable for cost, quality, reliability, and industrial engineers; systems engineers; cost and operations research analysts; management scientists; project and production engineers; engineering managers; and an extraordinary text for upper-level undergraduate and graduate students in these disciplines.

PAUL R. GARVEY is Chief Scientist for the Economic and Decision Analysis Center at The MITRE Corporation. He is the author of numerous technical papers, and book chapters, on cost uncertainty analysis and the application of decision theory methods to problems in risk management.


Risk Analysis: A Quantitative Guide
PAL No. 060, £49.95
Vose, David
Risk and uncertainty are key features of most business and government problems and need to be understood for effective decisions to be made. This book describes the techniques you need for effective risk analysis. The book assumes you have basic knowledge of risk analysis (such as you would get from the @RISK manual) and builds upon that knowledge with detailed examples of proven risk analysis techniques. The author has built these techniques in over ten years of risk analysis consulting. Speaking of @RISK, this book features the world's best risk analysis software - @RISK, BestFit, and RISKview! By providing the building blocks, the author guides you through the necessary steps to produce an accurate risk analysis model and offers general and specific techniques to handle most modelling problems. Topics include basics on distributions and Monte Carlo simulation, building a risk analysis model, generating distributions from data and expert opinion, project risk analysis, times series projections, interpreting results, and more! Following the overwhelming success of the first edition, the second edition has been extensively revised and updated and will provide an invaluable practical guide for the analyst who must perform risk analysis, the decision maker who must review the results of a risk analysis, or the statistician or operations research specialist who is interested in practical applications of risk analysis. Clearly written and logically laid out, beginners and experts alike will benefit from this book. HC, 432 pp. 



Risk and Decision Analysis in Projects, Second Edition -
PAL No. 079, £27.50
John Schuyler
Is there anything more important to the success of a project than making good decisions? Yet, few of us have had any formal training in decision making. Decision analysis is the discipline that helps people choose wisely under conditions of uncertainty. This book introduces risk and decision analysis applied to project management.

Probability is the language of uncertainty. Fortunately, a few basic concepts go a long way toward making better decisions. The evaluation calculations are straightforward, and many everyday problems can be solved with a hand calculator.

Recently we have seen heightened interest in probabilistic techniques for all types of evaluations. Shorter business cycles and increasing competition are demanding better resource management. People are learning more about value creation and how to work with uncertainty. New and evolving project management and risk software such as @RISK for Project, @RISK for Excel, PrecisionTree, and RISKOptimizer greatly help in assessing and managing risks and opportunities.

There are three major features of the decision analysis approach:
  1. best judgments about risks and uncertainties are expressed as probability distributions;
  2. a project model establishes the outcome value for the possible scenarios; and
  3. the expected value (EV) calculation provides a probability-weighted value for decision making.

The benefits are improved accuracy in evaluations, risk characterisations, and clear communication. Decisions can be made faster and with more confidence. Many examples of applications of these concepts and the techniques of Monte Carlo simulation, decision trees, and optimisation are included in the book.

The methods apply to all types of project decisions. Decision analysis provides the only logical, consistent way to incorporate judgments about risks and uncertainties into an analysis. Thus, when the uncertainties are significant, these techniques are the best route toward credible project decisions. Armed with this book and DecisionTools software, you'll be making better project decisions in no time! SC, 259 pp.

About the Author: John Schuyler, a longtime DecisionTools user, trains and assists clients in risk and economic decision analysis and in project risk management. He established Decision Precision®, an independent training and consulting practice in 1988, focusing on project and corporate economic modelling and on decision policy.

He has over 25 years of experience in economic evaluation, training, and management. His industry experience includes petroleum, mining, utilities, manufacturing, pharmaceuticals, information technology, and government.

Schuyler's short courses deal with strategy, design, resource, and capital investment decisions under uncertainty. He is associated with Oil & Gas Consultants International, for whom he has presented his three- to six-day courses over 150 times in 23 countries.


Simulation Modeling and Analysis
PAL No. 001,£60.00
Averill M. Law & W. David Kelton
An essential reference source, this book is intended for those more mathematically inclined. Ever wonder about how random numbers are generated? This book gives you the nitty gritty on random number generators and algorithms for generating a wide variety of random variates. There is material useful for @RISK and BestFit users, specifically on selecting input probability distributions. Amidst all the maths, there are many graphs to visualise the various distributions. There's also a discussion of independence/dependence, and a section on fitting actual data to probability distributions. With over 700 pages, this book contains a wealth of information on simulation modelling that would be appropriate for those interested in risk analysis or system dynamics. HC, 784 pp.


Simulation Modeling Using @RISK
PAL No. 054, £29.95
Wayne Winston
A straight-forward user guide to @RISK. This new book teaches basic concepts of simulation modelling using @RISK through a variety of examples from operations research, finance, marketing research, and accounting. These examples are accompanied by Excel and 1-2-3 @RISK models that clearly illustrate the concepts presented. You'll see how to use simulation to solve problems such as figuring an optimal bid, option pricing, market share analysis and inventory analysis. You can even simulate the never-ending Coke vs. Pepsi battle. Perfect for @RISK users wanting some tips and examples of simulation modelling techniques! Book comes with demonstration version of @RISK so you can follow along using the same example models in the book!
SC, 226 pp.

“Makes the use of spreadsheet simulation easy and applicable to many every-day business problems. [Winston] will clearly be one of those unique and very few academic leaders that transcend the large void between theoretical teaching and practical, real world, business applications.” — Five stars, Amazon.com

Statistical Distributions, 3rd Ed.
PAL No. 030, £39.95
Evans, Merran et. al.
Finally there's a comprehensive source of information on the most important probability distributions. This text presents the key formulas, tables, diagrams and uses for the 39 most commonly used probability distributions. DecisionTools users will find additional information and technical documentation on the distributions used in @RISK and BestFit. This book serves both as a quick look-up reference source and a basic introduction to distributions. It even has formulas for generating random samples from each of the covered distributions. Highly recommended for anyone who works with probability distributions in areas such as risk analysis, data analysis and distribution fitting. SC, 221 pp.


VBA for Modelers: Developing Decision Support Systems
with Microsoft Excel

S.Christian Albright
Self-contained and extremely practical, VBA for Modelers guides you in developing customised decision support systems for the important business problems you face. The book gives students and professionals the ability to integrate spreadsheet models with the power and flexibility of Microsoft Excel's Visual Basic for Applications (VBA). When used in conjunction with @RISK 4.5's extensive VBA commands library, users will gain almost unlimited control over @RISK for Excel!

The first half of the book is a helpful primer, which covers the basics
of VBA including:

  • Working with Excel ranges, workbooks, worksheets, and charts
  • General programming concepts
  • Control logic (if-then-else constructions)
  • Loops, arrays, and subroutines
  • The Visual Basic Editor (VBE)
  • Excel's Solver add-in
  • Building dialogue boxes
  • Debugging and error handling

Following the primer, you will learn how VBA and Excel can be used to create specific decision support applications based upon those found in the best-selling Practical Management Science, also available from
Palisade Europe UK Ltd. Examples include:

  • Employee scheduling
  • Transportation logistics
  • Capital budgeting
  • Pricing American and European options
  • Portfolio optimisation

This book features a companion Web site that provides detailed explanations of the subprograms and related information, as well as a CD-ROM containing example programmes.