How does RELCON optimise processes/investments?
A model is created for a complex process/investment and uncertainty distributions are defined for the different input parameters in the model. Dependencies between parameters are taken into account. The model is simulated extensively to get stable results. The result is presented with risks/possibilities represented by a distribution. Sensitivity analyses show the different parameters´ impact on the results.
The analyses with the method described above give the opportunity to successfully accomplish the third step in the Risk Management process: To Manage Risks. The optimal combination of result and level of risk can be found for different alternatives. Alternative solutions can be evaluated and prioritised. There are many important questions to answer in the Risk Management process and the results from the analyses help management to come to risk informed decisions.