Case Study: Technical University of Denmark improves transport project decision-making with Palisade @RISK

Technical University of Denmark - Customer Case Study

The Technical University of Denmark's Centre for Traffic and Transport (CTT) required a more sophisticated method for risk analysis to evaluate large infrastructure projects. Their challenge was moving beyond traditional best/worst-case median estimates to obtain a more complete and accurate picture of a project's socio-economic and environmental impact for better decision-making. They turned to the vendor Palisade and implemented its @RISK software.

Palisade's @RISK solution enabled the CTT to perform complex Monte Carlo simulations within Excel, modeling all potential scenarios and their likelihoods. This provided a thorough prediction of construction costs and a precise cost-benefit analysis, weighing factors like travel time, safety, pollution, and noise. As a result, the CTT can now deliver superior decision support to government bodies, ensuring more effective use of public budgets and creating bespoke, easy-to-transfer analysis systems for its partners. Palisade's tool has been used on projects ranging from a new airport in Greenland to an EU-funded freight transport corridor across the Baltic Sea.

Technical University of Denmark

Kim Bang Salling

Assistant Professor