About this workshop

Imagine the accountant who says "I don't need to know arithmetic because I have accounting software." Risk management is based on principles involving the arithmetic of uncertainty, which is governed by only a few additional rules beyond normal arithmetic. The free tools at ProbabilityManagement.org allow you to do the arithmetic of uncertainty in native Excel.

The Five Mindles of Uncertainty Risk vs. Uncertainty reminder Visualizing uncertainty Combining uncertainties (Diversification) Flaw of Averages (Strong Form) Interrelated Uncertainties SIPmath Tools

Topics covered by this workshop

Decision making

Probability theory

Sam {} is giving away the following

Free SIPmath Enterprise Tools for Windows. With the Enterprise version of the SIPmath Modeler Tools, you can easily create dynamic simulation models that can run in Microsoft Excel without any macros or add-ins. Create new models or make your existing deterministic model robust to reflect uncertainty. The Enterprise version includes one hour of technical support. To learn more, visit https://www.probabilitymanagement.org/enterprise.

Offered by Sam Savage
Executive Director, ProbabilityManagement.org

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Sam Savage

Sam L. Savage is Executive Director of ProbabilityManagement.org, a nonprofit devoted to the communication and calculation of uncertainty. He is the inventor of the SIP (Stochastic Information Packet), a data structure that lets simulations communicate with each other, and initiated the open SIPmath standard. He is joined on the board by Harry Markowitz, Nobel Laureate in Economics, and Michele Hyndman, former public relations manager for the Stanford School of Medicine Blood Center. Sam is also author of The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty, and is an Adjunct Professor at Stanford University.