GR 423 - Risk Simulation (Monte Carlo)

Description

How can technical, organisational and economic risks in companies be detected and assessed? How can I make rare events visible? How can complex interrelationships of the most diverse kinds be represented?

Modern systems are subject to a multitude of influences.

For a holistic, realistic risk assessment, the challenge thus arises to combine different information. This does not have to be exclusively technical parameters; economic information also often has to be taken into account in risk analyses.
In the context of risk assessment, analytical methods often reach their limits. The possibility of integrating information of different types and levels is often difficult or impossible.

So how can this be realised? Risk simulation using the Monte Carlo method is a very practical solution. Monte Carlo simulation is a computer-based simulation method that is used in very many areas and is becoming more and more widespread.

Based on a large number of simulated random events, complex systems, contracts and other relationships are mapped and validly estimated.

By determining these simulated events, complex analytical formulas are bypassed and the simulation objects are run through "in real life". The possible combinations of the simulation are almost unlimited. The conversion and implementation in various software environments (from MS Excel VBA to special CAS) is also possible without any problems.

As a development partner of such models, we, the simulation experts, draw on many years of experience in theoretical and applied Monte Carlo simulation from various application areas.

 

Content

Our services

  • Conducting workshops or training
  • Preparation of the risk simulation of maintenance contracts on a technical and economic basis
  • Simulation of the reliability and safety of complex plants and systems
  • Process simulation on different levels and different influences
  • Simulation and creation of load profiles and customer usage behaviour
  • Derivation of maintenance strategies


Our portfolio of methods

  • Monte Carlo simulation
  • Statistical data analysis and forecasting
  • Sensitivity analyses
  • Optimisation algorithms
  • System modelling

Prerequisites for participation

Previous knowledge of this topic desirable

Target audience

Due to its high relevance in all companies of the automotive industry, this training is recommended for specialists from all areas of vehicle manufacturers and suppliers.

Qualification Certificate

Various proofs are possible in consultation with the customer.

Duration

3 days

Dates

Please contact us to book 'Risk Simulation (Monte Carlo)'.