Definition

@RISK uses the techniques of Monte Carlo Simulation for Bias and Uncertainty assessment in a spreadsheet-based model.

Discussion

Developed by Palisade. @RISK evolved from PRISM (this is other than the PRISM elsewhere in this database), released by Palisade in 1984, which also allowed users to quantify risk using Monte Carlo simulation.

Further Reading

GAIN Working Group B, Analytical Methods and Tools, Guide to methods and tools for Airline flight safety analysis, Second edition, June 2003