Risk analysis assists Thales to measure feasibility of new business tenders
Thales UK has adopted @RISK software from Palisade Corporation to enable it to assess commercial feasibility of potential new business wins.
The company uses the software to assist it in making strategic decisions of whether or not to tender for new business. Using Monte Carlo analysis to show all potential scenarios and the likelihood that each will occur, @RISK enables Thales to calculate the competitiveness of complex markets, measure probabilities for project costs, quantify rate of return, and account for the effects of cumulative business. From this risk analysis, Thales can make a decision on the commercial viability of the potential new business offered.
“Our commercial success is determined by our ability to quantify both our internal operations, as well our position in the wider environment in which we operate - which is both dynamic and sensitive.
Adam Ogilvie-Smith, senior consultant with Thales
Adam Ogilvie-Smith, senior consultant with Thales UK’s management consultancy business, commented: ‘Our commercial success is determined by our ability to quantify both our internal operations, as well our position in the wider environment in which we operate - which is both dynamic and sensitive. It is essential therefore that we use a versatile and robust modelling tool that can handle the complexity of our queries. @RISK combines its powerful risk analysis capability with the added benefit of being easy and intuitive to use, and applicable for almost any task. As a result it is a key strategic tool for Thales UK, assisting us in our process of reaching informed business-critical decisions.’