Creating @Risk Formulas


@Risk formulas are inserted using the Monte Carlo Formula Generator.

The following menu calls will cause this form to appear:


From a Mandrel datafile:

Tools Menu/Monte Carlo '@Risk' Setup/Default, or

Tools Menu/Monte Carlo '@Risk' Setup/Custom


From any spreadsheet containing cost data:

Tools Menu/Monte Carlo '@Risk' Setup/Insert Formulas


MC Formula Generator


Spreadsheet Usage

If you are using an external spreadsheet with the Monte  Carlo Formula Generator, you will need to tell the software what kind of data you have and where it is located on the spreadsheet. The Spreadsheet Usage frame is used for this.

The Spreadsheet Usage frame will not appear if you are working on a Mandrel-generated spreadsheet, because the software will already have this information.


Current Item

The Current Item frame at the top of the form shows information about the cost item you are currently dealing with and the @Risk Monte Carlo formula, if any, that has been assigned to that cost item.


Expected Behavior

In order to insert an appropriate Monte Carlo formula for a particular cost item, you must define how you expect that cost to behave. The Expected Behavior frame allows you to select one of two major options:

1.    Open-ended (overruns are a possibility)

2.    Closed (overruns are not considered possible)

Selecting one of these options will automatically insert an appropriate Monte Carlo formula.


Selecting a Distribution

If you are an experienced user you can select your own formula type via the User-Defined option.