Using the Double Triangular Distribution in @RISK

Question:
Do @RISK distributions include the Double Triangular Distribution recommended by AACE?

Reference:
AACE Recommendation 41R-08: Risk Analysis and Contingency Determination Using Range Estimating by Dr. Kenneth K. Humphreys.

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Applies to: @RISK 6.x and Up

Use the built-in function:

=RiskDoubleTriang(min, mode, max, lower_p)

Example:

• Probability of underrun: 76% (0 to 4)

• Probability of overrun: 24% (4 to 10)

Formula:

=RiskDoubleTriang(0, 4, 10, 0.76)

• min = minimum value (start of first triangle)

• mode = most likely value (common peak)

• max = maximum value (end of second triangle)

• lower_p = cumulative probability of the lower triangle (underrun)