Creating Simulations in Excel: Intermediate (Asynchronous)


Learn how to improve on Creating Simulations in Excel: Basic in native Microsoft Excel that can lead to better decisions in any field. Unless you already have a professional expertise in Microsoft Excel, it is highly recommended to sign up for Creating Simulations in Excel: Basic training prior to signing up for this class.

Within 24 hours of course registration, you will receive an email confirming your enrollment in the asynchronous modules and directions to access them.

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What's the chance that a project will lose money or be cancelled? What's the most likely return on investment for a given investment? How likely is a particular risk or set of risks to happen - and how severe could their impacts be?

Running simulations has been shown to measurably improve estimates in uncertain decisions, but how can you run a simulation without complicated software requiring advanced training? This webinar teaches participants how to build a powerful tool - a Monte Carlo simulation that calculates thousands of scenarios - using only Microsoft Excel, with no additional training or software required. Not even coding in Visual Basic for Excel, user-defined functions or new Excel add-ons are needed. We only need native Excel using features that are already installed.

Creating Simulations in Excel: Intermediate continues the discussion with some intermediate topics that will improve the performance and versatility of your decision models. Using only features of native Excel, you will learn how to:

-Use more advanced probability distributions, such as the lognormal, beta, and power law distributions.
-Compute information value when you have a model with several variables.
-Adjust your cash flows based on a stated risk tolerance.

Participants will also gain access to Excel templates that expand upon the templates from the previous course with additional features.

Why You Need Simulations In Your Decision Models

What keeps every decision from being a great one is the fact that for every decision, there exists a range of uncertain future results, some of which will be a quantified loss. To calculate risk, we need a way to calculate thousands of the possible scenarios and outcomes that could happen to find out which are most likely.

Enter the Monte Carlo simulation. Born out of the Manhattan Project, the Monte Carlo simulation uses randomly-calculated values to run thousands of scenarios and calculate the most likely outcomes. Studies have shown how the use of a Monte Carlo simulation tool can measurably improve forecasts in everything from NASA unmanned space probe mission risk to the financial performance of oil exploration firms.

Simply put, the Monte Carlo simulation is one of the best quantitative analysis tools we have available - and adopting it to make better decisions is one of the best decisions one can make.

Course Access: All course modules are completed at Within 24 hours of registration each participant will receive an email with the access information to complete the self-paced online training.

Instructor Access: Once in the academy course, you can post questions in the Course Forum or ask an instructor directly via email.

Contact us for more information!