Learn About Probability Management in Stanford Project Risk Analysis Course

In excerpts from a webinar to introduce Stanford’s CEE242R Project Risk Analysis Course, Dr. Savage explains the Flaw of Averages, SIPmath, and the SIPmath Modeler Tools

Videos posted with permission from Stanford University

Videos posted with permission from Stanford University

Featured
0. Introduction 0:48

Limbic Analytics:
Connecting the Seat of the Intellect to the Seat of the Pants

1. The Flaw of Averages 4:08

•The Concept

•The Cartoon

•The Audio Logo

2. A Cure for the Flaw of Averages 2:50

•Interactive Simulations in Excel

•SIPs (Stochastic Information Packets)
Conveying Uncertainty as Data

3. The SIPmath Standard 0:56

The 60-Cycle AC Current Standard for Conveying Uncertainty as Data

4. Putting It All Together 4:55

•Getting Distributions from Forecasts

•Using Libraries with the SIPmath Tools