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Intermediate Simulations in Excel: Creating Simulations From Scratch for Better Decision Models

$375.00 $187.50

Simulations have been shown to measurably improve estimates, but many decision models currently lack this critical element. Learn how to improve on basic simulations in native Microsoft Excel that can lead to better decisions in any field.

How to Sign Up:

  1. Select a date in the drop-down menu below and add to cart. Then, fill out your order information when you go to check out.
  2. Sign up for the next session: If you can’t make one of the scheduled sessions, email us so we can send you the next dates soon as they are available.
  3. Sign up for this session and receive a recording: If you can’t make one of the scheduled sessions, you can still sign up. All registrants receive a recording of the presentation, even if they could not attend.
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Description

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?

Building on the Basic Simulations in Excel course, we will continue 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.

After attending Intermediate Simulations in Excel, you’ll have the ability to improve upon an Excel simulation to help you answer the critical questions every successful decision requires.

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 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.

Scheduling and Deliverables

Each participant will receive an email with a link to the Webex approximately 1-2 days before the live session. No pre-registration is required; simply click on the link at the appropriate time to join the session.

Following the session, each participant will receive:

  1. A recording of the presentation
  2. The slide deck used in the presentation
  3. Excel templates for the concepts covered in the training

Schedule a Private Webinar for Your Organization

We offer private webinar sessions for an organization with special discounted group rates. Contact us for more information and to schedule your next training session.

Additional information

Intermediate Simulations in Excel Dates

Wednesday, April 29 3:00pm – 6:00pm CDT (UTC-5), Thursday, June 18 9:00am – 12:00pm CDT (UTC-5)

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