Book Description
Designed for learning professionals and drawing on both game creators and instructional designers, Learning by Doing explains how to select, research, build, sell, deploy, and measure the right type of educational simulation for the right situation. It covers simple approaches that use basic or no technology through projects on the scale of computer games and flight simulators. The book role models content as well, written accessibly with humor, precision, interactivity, and lots of pictures. Many will also find it a useful tool to improve communication between themselves and their customers, employees, sponsors, and colleagues. As John Coné, former chief learning officer of Dell Computers, suggests, “Anyone who wants to lead or even succeed in our profession would do well to read this book.”
Download Description
Designed for learning professionals and drawing on both game creators and instructional designers, Learning by Doing explains how to select, research, build, sell, deploy, and measure the right type of educational simulation for the right situation. It covers simple approaches that use basic or no technology through projects on the scale of computer games and flight simulators. The book role models content as well, written accessibly with humor, precision, interactivity, and lots of pictures. Many will also find it a useful tool to improve communication between themselves and their customers, employees, sponsors, and colleagues. As John Con, former chief learning officer of Dell Computers, suggests, & Anyone who wants to lead or even succeed in our profession would do well to read this book.
Customer Reviews:
Learning By Doing.......2007-06-02
Although Aldrich provides a good guide with an overall view of pitfalls or benefits of serious games, I did not think there was enough depth in design and effective learning techniques for my research needs. For an HR or training professional who wants to get an extensive overview in this field, this book would be very useful.
highest recommendations as an introduction to the most current research and pedagogy in educational technology.......2007-04-18
In 1985, I started developing educational computer simulations in DOS on the IBM PC. Since that time I have been involved in every new form of educational technology.... touchscreen, videodisc, CD-ROM, internet. For the last 8 years I have been consulting in corporate training. To try to stay smart, I read everything I can get my hands on.
After reading Learning by Doing by Clark Aldrich, I am completly blown away. Clark is a genius. This book is relavent and puts into context everything I have been doing for 22 years.
This book captures in a fun, easy to read informative style, both the pedagogy and technology for creating state of the art e-learning experiences.
I have never been motivated to write an Amazon review before, but I can't over emphasize my enthusiasm for this book. I have already had several of my clients buy this book. The book is well researched and completely current with latest trends and advancements. The use of bullet lists and charts/ diagrams is very helpful. The index is more comprehensive and complete than any book I have ever seen. Clark's editorial comments are right on target.
The book is not a dense encyclopedia, so if that is what you are looking for then supplement your library with some of the other current titles on blended learning. I give this book my highest recommendations as an introduction/ overview to the most current research and pedagogy in the use of educational technology for corporate training.
I especially recommend this book for corporate trainers who are trying to figure out how to evolve from instructor led to a blended learning paradigm.
Read this book second.......2005-12-08
I just finished reading "Learning By Doing" from cover to cover. Those who are practicing in this field will want to read this book to learn of techniques that might not be readily apparent such as branching stories and interactive spreadsheets. I would recommend that they read "What Video Games Have to Teach Us About Learning and Literacy" by James Paul Gee first, however, as I found the writing style of "Learning By Doing" a little sparse, like fleshed out bullet point slides. It is clear, though, that the author has a lot of experience in this topic and his book is a contribution to the field.
Another Winner by Clark.......2005-10-30
It is no secret that "conventional eLearning" is not as engaging, interactive and interesting-and therefore also not as effective-as it should be. And we know that even current technology has the potential to do much more for "eLearning," or "technology-enabled learning" than we see today. And the rate of change in most technology is accelerating rather than slowing. It is the future potential that excites most of us who are involved in learning technology.
Games and simulations (G&S) is clearly one of the most interesting and exciting areas of learning technology and undoubtedly will play a big part of "next generation (e)Learning," whether in schools, universities, government or industry. This is now being recognized, and evidenced by the growing number of "conferences-within-conferences" (seen most recently at the Training Fall Conference and Expo in Long Beach) or the Serious Games Summit in WDC-to mention just two-dedicated to the topic of G&S.
Clark's book is a most welcome addition to the growing literature covering G&S-and it is a book I highly recommend for anyone interested in learning technology. And if you are involved in some way in learning and training, you cannot avoid technology and if you want to be conversant and be ready to make (smart) decisions on issues that undoubtedly will soon come your way, if they have not already, the ROI on the money spent on Clark's book will no doubt be great.
Clark is a highly respected analyst-with a long history of insightful writing on learning and learning technology (which thousands of practitioners and analysts have enjoyed for a number of years)-as well as a simulation developer, and a business executive (leading Simulearn). Few others can equal his credentials in the area of learning technology so even before the book arrived in my mailbox I knew that this would be one I would enjoy and find very useful. It did not disappoint me.
Not only is it well written but it is a very nice combination of the following:
-- Clear analysis of different types of G&S. This is very useful as it will help future discussion and dialog and reduce the confusion that results when people think they are talking about the same things but in fact are not. Even if one does not agree with Clark's taxonomy he is nevertheless doing us a service by stimulating a richer dialog around these issues.
-- Lots of good examples. Especially for readers interested in using G&S in their organizations, and therefore need to understand the practical side of G&S, Clark's book is very useful as it provides a range of different examples covering the different types of G&S discussed in the book. The examples come from different types of users and sectors, and few application areas exist where G&S could not be highly useful.
-- Challenges that lie ahead. Because of Clark's varied background he is very well positioned to reflect on the challenges that lie ahead and to give a realistic assessment of where we are heading with G&S. As with other analysts, like Clark Quinn, for instance, Aldrich recognizes that the future for G&S is no cakewalk. It is very hard-and often costly-to build high quality, customized simulations, for instance, as Clark learned when he built Virtual Leader. But as tools and technology improve, as more vendors compete and offer better products, and as buyers recognize the benefits of G&S (See the excellent work by James Gee at the Games and Professional Practice Simulations at the Academic ADL Co-lab, for instance) and demand thus accelerates, "effective cost" per user (nominal cost normalized by learning effectiveness) will no longer be a major adoption barrier.
Clark is also one of the most popular speakers on the conference circuit so once you have read his book you will have more to talk to him about when you meet him at one or more of the upcoming events where he will speak.
Eilif Trondsen, Ph.D.
Director
Learning on Demand Program
SRI Consulting Business Intelligence
(...)
Aldrich Framework Extends to Assessment.......2005-09-17
[...]
I really enjoyed "Learning by Doing" Clark. Your frame of thinking helps place things into a space for mulling over the possibilities. I noticed the big "we have no idea" at the end of the interviews on the question of measuring the effectiveness. That is a big challenge, and I think the way there is already being constructed by Mislevy and others in the "adaptive testing" arena - but instead of giving an adaptive test, we'll just make an unobtrusive observation using the same rigorous theory base without hurting the playability, fun, sim aspects.
What you called the "universal truths" (I wasn't as convinced about sticking it in the intersection of games and sims) are also called "generic structures" in the systems dynamics literature - you probably know that. It makes one wonder if in the authoring environments of the future, those structures will be facilitated through wizards to help people build games and sims. With a few critical questions, the agent could "fill-in" a generic structure to some extent...including capturing the causal chains of events (e.g. what happens first?, when that goes up what does it do to the second thing?).
I really like the clarity of the framework of "sim, game, pedagogy" crossed with "systems, cyclical, linear" and also the idea that sims allow-uses discovery/practice, games allows-uses testing/softening and pedagogy allows-uses presentation/support. The Mislevy (et al) assessment model has four parts: task model (a bit like the sim in that it is the model of everything that the user could be doing, sets the context and expectation), user model (a bit like the game in that it models in clear computational terms what the "winning" user will be doing), the evidence model and presentation layer (collects data, makes judgements about what the user knows, and selects the next item to present to the user). The presentation layer is a bit mechanical...so really the three essential parts of any assessment are the task, user and evidence models, which I think can be brought into a useful alignment with your framework - in order to go after that issue about metrics of effectiveness.
Another thing your model makes me think of is that on the content type side, cyclical contains linear and is contained by systems. e.g. systems models have both linear and cyclic causal relationships, simple cycles are first created by two linear relatinships that bounce back to each other...and curvilinear paths of many kinds are essentially linear at the microscopic level. So that leads me to wonder (and I think your chapters make this point) that pedagogy is contained in games (i.e. games teach) and are contained by sims (i.e. sims can be fun, have prefered goal states like "winning" or "succeeding", use scores, give feedback. etc.) These metaphors might break down on some issues, but they're giving me pause to reflect and relate to your framework.
Book Description
This book provides detailed coverage of BPEL4WS, its syntax, and where, and how, it is used. It begins with an overview of web services, showing both the foundation of, and need for, BPEL. The web services orchestration stack is explained, including standards such as WS-Security, WS-Coordination, WS-Transaction, WS-Addressing, and others. The BPEL language itself is explained in detail, with Code snippets and complete examples illustrating both its syntax and typical construction. Having covered BPEL itself, the book then goes on to show BPEL is used in context. by providing an overview of major BPEL4WS servers. It covers the Oracle BPEL Process Manager and Microsoft BizTalk Server 2004 in detail, and shows how to write BPEL4WS solutions using these servers.
Customer Reviews:
Could be a great book.......2007-05-30
This is a good book for those seeking an initial view of process and BPEL. The book covers the basics of BPEL profile 1.1, and until chapter 4 is a good resource of information. I don't like books that binds the technology to an specific implementation, and that's the case of the book after chapter 4, it binds examples to Oracle BPEL process servers (which I've already used in production and find it a poor implementation) and Microsoft Biz Talk (never used it). It would be much better if more real world examples could be provided instead of specific providers mechanisms for deploying, creating etc. This should be a readers choice, and the product manuals take care of that. I'm a great fan of the author, have read many of his books, this one had everything to be on my top shell, but, if only there was no more chapters after the 4th.
Just my 2 cents.
BPEL just may be the future of business data communications.......2006-03-29
There have been an entire bowl of alphabet soup regarding various kinds of distributed processing systems. All of them, in their time, achieved a certain level of usage. None of them has done much to change the basic way we do business communications. That may be changing.
The development of the internet from a little system to exchange technical papers to a worldwide set of sites, all speaking internet protocol, have generated the expansion of broadband services all across the world from New York City to small towns in the third world. The basic ability of an individual to seek information has subsequently been expanded with XML so that information can be exchanged between computers of different types with different operating systems easily and without having to understand the characteristics of the computer at the other end. XML is a very open standard and it has some weaknesses. Enter BPEL to establish a set of standards, some common ways of doing things, and a generally more organized approach.
BPEL servers have been developed by, and there are URLs to: Oracle, Microsoft, IBM, BEA, Sun and at least four open-source implementations.
While this is a beginners book in so far as BPEL is concerned, it is presumed that the reader has some experience with XML, web services, and some kind of web services developent system such as J2EE or .NET.
A response from Packt Publishing.......2006-01-21
This is a response from the Publisher, Packt, in reply to the two reviews below...
The code examples in the book have been written for the Oracle BPEL Process Manager version 2.x, which has been one of the few working BPEL engines at that time (2004, former Collaxa engine). In the mean time, Oracle BPEL Process Manager has been upgraded to version 10.1.2 and code examples required some minor modifications. New code examples have been available from the publisher's web site (www.packtpub.com). If Oracle BPEL Process manager is installed appropriately, code examples definitely work.
Please notice that the 2nd Edition of the book is about to be published in January 2006. The 2nd Edition has been improved, particularly with the introduction of SOA and BPEL, and coverage of advanced features of Oracle BPEL Process Manager and Microsoft BizTalk.
This answers the complaints in the last two customer reviews, thank you.
Packt Publishing
book needs a revision........2006-01-17
This book introduces bpel using oracle bpel engine beyond that this book fall short of introducing the bigger picture in terms of soa. the book also needs a revision. this book also suffers too much repetition and poor editing.
Good Intro to BPEL - Poor examples.......2006-01-02
The book really did a good job about introducing the BPEL Spec..saves much of your time from Google. Beyond that, the examples using Oracle BPEL Engine are poorly written and too confusing. After the first 3 chapters, the book chapters stretches in different directions and I doubt the editors/authors did a final review together. The code examples are not working ! This means ..I regret to say 60% of book is not worth reading.
Book Description
The new edition of this widely acclaimed guide is full of practical help on how to build the best, most flexible, and easy-to-use business models for analyzing the upside--or potential downside--of anything from the small development of an existing business to large-scale mergers and acquisitions. For anyone who wants to get ahead in business and especially for those with bottom-line responsibilities, this is an invaluable guide on how to build spreadsheet models for assessing business risks and opportunities.
Customer Reviews:
Tips and tricks you want to know.......2003-03-17
This book goes beyond the basic or even advanced Excel how-to book. It focuses on business modeling and how to structure any spreadsheet you build, a topic completely missed by any other Excel book. This book has been written by people who build spreadsheet models, not programmers.
Use this book as a good reference on building spreadsheet, be it for business modeling or just plain use of Excel. For years I sought for this a book. Finally I found it. ...
Book Description
This practical 'how-to'book describes all the key operations of ARIS Toolset - the market leading Business Process Modelling Tool. Using lots of screen shots and plenty of practical examples, Rob Davis shows how ARIS can be used to model 'your' business processes.Based on his experience of using ARIS in British Telecommunications plc, the author describes practical ways of using ARIS Toolset:- Explaining the models and techniques that will enable new users to start modelling quickly and effectively.- Introducing tips and short cuts which make using the tool much easier.- Giving insights into the ARIS concepts.- Explaining the rationale behind alternative ways of using the tool, their benefits and the trade-offs involved.- Tackling issues found in real projects (e.g. complex model structures, handling variety, etc), as opposed to the simple examples given in many books.In addition to describing how to use the tool, Rob Davis discusses how to create standards for using ARIS as well as giving guidance on how to use ARIS for process capture and design.Business Process Modelling with ARIS is a 'must have'for every user of ARIS.
Customer Reviews:
Excellent reference for ARIS.......2005-03-11
This is an excellent reference book on ARIS. It is really a "must have" for anyone learning and using ARIS. It is well written and well structured. The only reason I've rated it at 4 stars is because it is based on Release 5 of ARIS. An updated edition would be great.
Best book written about Aris.......2003-10-17
This book explains quite good how to use Aris in practice. However it's quite heavy to read through. There could be more pictures and charts to get things clearer and easier to understand. But still absolutely the best book about Aris.
Book Description
Risk Analysis A Quantitative Guide Risk and uncertainty are key features of most business and government problems and need to be understood for rational decisions to be made. This book concerns itself with the quantification of risk, the modelling of identified risks and how to make decisions from those models. Following on from the success of the previous edition of this clearly written and highly regarded book, this edition is extensively revised and updated and will provide an invaluable practical guide for beginners and experienced practitioners alike. Quantitative risk analysis (QRA) using Monte Carlo simulation offers a powerful and precise method for dealing with the uncertainty and variability of a problem. By providing the building blocks the author guides the reader through the necessary steps to produce an accurate risk analysis model and offers general and specific techniques to cope with most modelling problems. A wide range of solved problems is used to illustrate these techniques and how they can be used together to solve otherwise complex problems. Reviews of the first edition "It identifies the various facets of risk analysis and provides a valuable reference to the concepts and techniques employed." Project, 1997 "It clearly explains many essential aspects of quantitative risk analysis . provides valuable techniques and sound professional advice." Journal of Behavioral Decision Making, Vol. 12, 1999 "The book offers a powerful method for dealing with risk and uncertainty." Zentralblatt für Mathematik, Band 908, 1999
Customer Reviews:
Risk Analysis.......2006-05-24
A very good book, but a bit too much mathematical detail in deriving formulas for probability distributions; could use better descriptions of when to use each probability distribution.
Best Book for Quantitative Risk Analysis.......2004-04-25
I believe that this book is the best of many Risk Analysis books. The book's structure, starting from fundamental topics and guiding to advanced topics, is excellent. So, I translated this book into Japanese! You will make the best use of the book with Excel add-in Monte Carlo simulation software like @Risk and Crystal ball that you can get its trial version from the vendor's site(free!). But, the value of this book is not decreased with its sophistitated notation even if you don't have such software. You can enjoy the logic of Quantitative Risk Analysis. Now, the author is preparing his original software. I hope it will be as valuable as this book.
1st edition more useful to a practitioner than the 2nd.......2003-10-18
Unlike in the first edition, the author seems to have tried his best to eliminate any reference to any simulation software in the second edition. Result: it now reads like any academic simulation text, only less. The first edition wasn't broke. Why fix it? Bring back the classic Vose!
Rigouros, clear and practical.......2003-04-20
This book gives a deep insight into the state of the art and recent developments of quantitative risk analysis using simulation methods. Describes topics such as second order risk analysis I never heard about before. I used the knowledge drawn from this book to write some technical papers (published on peer-reviewed journals and seminars proceedings). Specialized software, such as @-risk and crystal ball is not strictly needed to carry out the risk-analysis systems suggested by the author (but pretty advanced skills with excel or use of math softwares are required). The specific subject of the book is risk modelling by Monte Carlo Simulation and Bayesan analysis; it does not deal with fuzzy models or other uncertainty-propagation methods. I highly reccomend this book to anyone interested into the specific subject.
Risk Analysis: A Quantitative Guide.......2001-08-25
I purchased this book to learn to write simulation equations in excel but only found it was a manual ( type book ) with good information for a very expensive software I did not have....If you have RISK software, it is a great book to have... I returned my copy w/o scanning the entire book.
Customer Reviews:
A buyer.......2006-09-18
Zero-. Author is more concerned of protecting his macros and VBA modules then to give real knowledge to the readers. So the rest of his books flooding the market, instead of just One but really good.
Absolutely first rate!.......2005-12-31
It seems as if I'm the pariah -- given the lukewarm nature of the preceeding reviews -- but, not afraid to sound contrarian, I unreservedly give this book five stars.
I believe "Mastering Financial Modelling" is not only one of the best books on the subject, but it is simple to read and understand, and convinces the reader that creating your own financial models is a lot of fun. I'm not sure you can acquire the same sense of satisfaction after reading its competition.
If you aren't sure about this book's utility as regards your immediate needs, feel free to visit www.financial-models.com, which gives a superficial representation of what you'll find in the book.
PS: I owned Benninga's "Financial Modelling" for about 4 years, before I sold it so that I could buy Day's book. Benninga's book is good for finance formulars and so on, but Day goes a step farther and gives you real models with the formulars and explains in greater detail how things like Combo Boxes work and so forth.
The only quirk with this book is that it does not come with a CD-Rom as promised on the website. I was pretty upset at first and e-mailed the author about it. But he quickly referred me to the Financial Times website, where I was able to obtain free downloads. If you own a MAC the files might not work for you. Nonetheless, I believe this is a relatively minor distraction in an otherwise fantastically put together piece of work.
Ignore previous reviewer -- password protection IS a major problem.......2005-07-24
Even if you copy the templates to your hard drive, you CANNOT customise the many password-protected spreadsheet templates included on the CD.
Even more disappointingly, the password prevents you from using Excel's audit function to trace formulae components.
This means that to understand formulae one must resort to the tedious, stone-age method of looking in the formula bar and noting down by hand that the formula is, for example," = (sum (A6:G12)) * [next sheet!]Q7 + ([sheet 7!]T78 / [sheet 3!] c24)", and then translating it all into English.
In summary, if you want to teach yourself from this book it will cost you a very substantial time investment in addition to the book's cover price.
ignore previous reviewer.......2003-01-03
if you actually install the files, instead of running them off of the write-protected CD-ROM, you can edit them.
Good Ideas - BUT You Can't Customize the Spreadsheets.......2001-10-05
Some good ideas about applying Microsoft Excel are included in book and the accompanying CD-ROM. But unfortunately the included models are not practical for most American readers. They use English nomenclature - NPAT instead of Net Income, etc. - and have formatting that looks ok on screen but is less than presentation quality when printed.
The author has password protected the spreadsheets so you can't customize them to your own needs. A serious drawback for the serious user, clearly the intended readership for this book.
Book Description
This book is for all financial professionals whose work, to a greater or lesser degree, involves complex spreadsheets and financial models. This includes investment bankers, commercial banks, accountancy firms, property firms, public sector including local government and healthcare, PFI/PPP enterprises, financial managers and financially literate general managers. Junior/middle management, where the focus would be on cash flow forecasting and budgeting tasks, will also find this book of value.
For the vast majority of people involved in this subject, financial modelling is an activity, a task requiring skills. Once people have the ability to structure the model, they have a better starting point from which to address the financial problems. This new book proposal intends to offer that starting point.
Theory is limited to the absolute essentials that aid understanding; thus the focus with this new book is very practical - this is "how-to-do-it", showing best practice, and is illustrated with many practical worked examples.
* Practical financial modelling- all the essentials in one book
* How-to approach, with numerous worked examples
* Explains the techniques and functions of Excel most use in financial modelling and budgeting
Book Description
Risk modeling is now a core skill for successful managers inside and outside finance. Alastair Day's Mastering Risk Modelling shows managers exactly how to build Excel-based models for identifying, quantifying and managing risk--models that provide clear, accurate decision-making guidance that can be used with confidence throughout the enterprise. An ideal follow-up to Day's bestselling Mastering Financial Modelling, the book brings together risk modeling theory and practice more effectively than ever before. Day presents extensive tips and methods for developing Excel-based risk applications--including practical guidance on designing models and layering complexity on top of basic models. His series of Excel templates will jumpstart your own modeling, eliminate the need to start from scratch, and provide powerful insights for improving any model. All models are provided on an accompanying CD-ROM.
Customer Reviews:
Great Book on Risk Modeling.......2005-02-22
I find the book extremely useful and it is a good supplement to standard textbooks on risk modeling. The book discusses the different principles of building models, and then explains how the same can be applied to risk modeling.
This book should not be treated as a stand-alone book on risk modeling and must be used as a supplement to some theoretical book on risk modeling.
If you already have the book on "Mastering Financial Modeling: by the same author, then you may not find this book as useful.
Bargin Bin Only.......2004-06-17
Mastering Risk Modelling has a few tricks and references that makes the book an excellent candidate for a bargain bin pickup. There is just enough information to make a newbie dangerous and not enough to add to the practioner's body of knowledge.
This book is not the place to start if you are new to spreadsheet modelling and/or risk modelling. The CD included is severely limited with the bulk of examples void of formulas and code. However, the book is not explicit enough to be a good "How To" and the risk methodologies are not explained in depth enough for a newbie to put into practice.
If you are a practitioner, you will find some nifty tricks, reminders, and some cut'n'paste vba that would take you ~15 min to write. However, the book is simply not sophisticated enough to put into practice.
The book is most suited to a recent MBA with some time on his/her hands to goof around in excel; an intern tasked with building a spreadsheet quickly; a practitioner that needs a jumpstart or wire frame for a task; or, perhaps, an accountant or finance geek that wants to understand business line concepts better.
Practical guide.......2003-12-04
The book covers a comprehensive aspect of everyday modelling requirements for practitioners. Since it is very dependent on Excel spreadsheet for all the modelling, having the sample template of the chapters on your PC will help a lot. Unfortunately, the CD that comes with the book cannot be install into my PC that runs on WinXP. Error message of not enough disk space will come up upon installation (my PC has 8G of free space)......sad. Hope the publisher will come up with a patch for the CD.
Average customer rating:
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Computer Simulation in Business Decision Making: A Guide for Managers, Planners, and MIS Professionals
Roy L. Nersesian
Manufacturer: Quorum Books
ProductGroup: Book
Binding: Hardcover
 General
| Business & Investing
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Decision-Making & Problem Solving
| Management & Leadership
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Manager's Guides to Computing
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ASIN: 0899304087 |
Book Description
Here is a comprehensive guide to the incorporation of computer simulation in all levels of the planning function of an organization. Writing for managers of planning, planners, and programmers, the author enables readers to gain an overall understanding of the potential role of simulation in planning, to apply simulation to their own particular needs, and to translate planning concepts into computer instructions. Nersesian demonstrates that for manager, planner, and programmer alike, simulation is not difficult in concept nor complicated to put into practice. The author argues that simulation is a necessary activity in a planning environment characterized by uncertain futures and rapidly changing conditions. The book is organized into separate chapters, each of which acts as a case study of an aspect in the use of simulation. The synopsis that begins every chapter provides the manager of a planning operation with an appreciation of the general application of simulation to one facet of planning. The chapters themselves focus on particular situations which might befall a planner within the general application of simulation to the planning process. Special appendices--designed to aid programmers who have not had much previous experience in setting up simulation programs--follow each chapter and provide descriptive material and the applicable simulation program. As a comprehensive yet easily understood guide to the benefits of utilizing simulation in the planning process, this book will be an invaluable resource for planners, corporate executives, and programmers.
Average customer rating:
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Computer Simulation in Financial Risk Management: A Guide for Business Planners and Strategists
Roy L. Nersesian
Manufacturer: Quorum Books
ProductGroup: Book
Binding: Hardcover
Economics
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| Free Enterprise
| Inflation
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| Microeconomics
| Money & Monetary Policy
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ASIN: 0899305784 |
Book Description
Computer programs that simulate complex processes in the real world can provide a quantitative tool for determining how much debt can be added safely to a company's capital structure. The increasing number of bankruptcies and defaults in today's international business arena result from debt overload and point to major shortcomings in the conventional financial evaluation process. In this book, Roy L. Nersesian describes why current methods of risk management fail and how computer simulation can be employed to determine the safe level of debt more accurately. Because the decision to add debt to an organization requires favorable, and essentially independent, decisions from both the borrower and lender, it is necessary to quantify both perspectives. Through actual examples readers will learn how to do this and to translate an actual business situation into a simulation model or program. Current evaluation systems, according to Nersesian, fail to incorporate the cyclical nature of business activity. They result all too often in an overly optimistic projection of cash flow. Simulation techniques are better able to incorporate the transience of good times and put quantitative analysis of risk on par with quantitative analysis of reward. Simulation techniques also reduce the role of speculative, and highly subjective, judgment. For example, decisionmakers who are not familiar personally with a particular business area, assign more risk to that area than those who are. A quantified risk management system enables executives to rank projects by the degree of risk much as they currently rank them by degree of profitability. The book presents the concept of simulation in terms that can be understood by generalists in corporations and financial institutions. At the same time, it provides computer programmers with an understanding of risk management principles. It will provide a valuable resource for: financial executives, planners and strategists in corporate and governmental organizations; bank lending officers; and computer programmers working with these organizations.
Books:
- Learning to Think Things Through: A Guide to Critical Thinking Across the Curriculum (2nd Edition)
- Managing Transitions: Making the Most of Change
- Mathematics for Finance: An Introduction to Financial Engineering (Springer Undergraduate Mathematics Series)
- Megaprojects and Risk: An Anatomy of Ambition
- Methods, Standards, & Work Design
- Methods, Standards, & Work Design
- Microsoft Office SharePoint Server 2007 Administrator's Companion
- Multiple Criteria Decision Analysis
- Opening Love's Door: The Seven Lessons
- Perpetuating The Family Business : 50 Lessons Learned from Long Lasting, Successful Families in Business
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- Accountants' Handbook, 2 Volume Set
- Fundraising for the Long Haul
- Dying to Call You
Simulations and the Future of Learning: An Innovative (and Perhaps Revolutionary) Approach to e-Learning
Engaging Learning: Designing e-Learning Simulation Games (Pfeiffer Essential Resources for Training and HR Professionals)
What Video Games Have to Teach Us About Learning and Literacy
Digital Game-Based Learning
e-Learning and the Science of Instruction: Proven Guidelines for Consumers and Designers of Multimedia Learning
