Issue |
E3S Web of Conf.
Volume 389, 2023
Ural Environmental Science Forum “Sustainable Development of Industrial Region” (UESF-2023)
|
|
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Article Number | 09006 | |
Number of page(s) | 8 | |
Section | Environmental Policy and Economics | |
DOI | https://doi.org/10.1051/e3sconf/202338909006 | |
Published online | 31 May 2023 |
Accessible risk management using workflow simulation into Microsoft Excel
Technical University of Varna, Studentska 1, 9000, Varna, Bulgaria
* Corresponding author: a.antonov@tu-varna.bg
We live in a digital era. Nowadays almost all accounting and production project information are collected into long electronic spreadsheets that are easily accessible for the production managers so they can extract the data and analyze it according to their needs. In every work project, especially in long project production, IT or manufacturing, there is the need to perform an elaborated risk management, just because there is a gap of uncertainty from the process of planning to the final workflow cost. One main task that often causes problems is the quantitative risk analysis. In this article we will show how to use a well-known standard product, that is easily accessible even to micro entrepreneur – Microsoft Office/Excel. With the help of MS-Excel it will be cost effective and easy to extract the data and create standard risk simulations, which will help managers to take decisions and reduce their risk exposition.
Key words: Risk Management / Monte Carlo Simulation / Workflow / Interface / Stochastic Factors
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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