The software itself is easy to use, and our short Users Manual explains how to create your lists of reasons and use the probability wheel, input damage and fault assessments, generate all the quantitative results, and tailor the printed appearance of your trees and graphs.
However, in order to get the most out of the Models, you should also be familiar with the basic principles of Litigation Risk Analysis. If not, you won't be able to explain your results to your clients, and you won't have the confidence to act on them.
There are two ways to learn these basics:
1. Inhouse Presentations
Our one-day seminar presented by Marc B. Victor, Esq. will equip claims managers and counsel to quickly perform good risk analyses on the types of claims they see frequently and to begin doing so the very next day. The seminar will accomplish this by:
Presenting techniques that are critical to making realistic probability assessments after first allowing you to experience the dangers that can occur when these techniques are not applied.
Teaching you how best to capture the uncertainty in jury verdicts.
Letting you witness the potentially disastrous consequences of trying to eyeball the value of claim and then teaching you, instead, how to properly solve a decision tree for its value. This involves learning how to arithmetically combine your subjective (but numerical!) assessments of multiple liability theories or defenses, possible jury awards, and the comparative fault of plaintiff and/or codefendant.
Explaining why claims can often be settled at early stages, despite the existence of considerable uncertainty; and, as a corollary, teaching you how to perform sensitivity analyses that show the value of changing your odds of success, and so identify those areas of further investigation where the benefits outweigh the costs.
Presenting you with a library of decision tree models designed to apply to a wide range of typical claims.
Demonstrating how to use the Litigation Risk Analysis Software Models computer program. This includes walking you through a typical claim, showing you how to input your evaluation of liability, comparative fault and damage issues, and explaining how to generate the various quantitative results. To see how the software handles a typical personal injury claim, click here. To see how the software handles a typical medical malpractice claim, click here.
Making sure you understand how to interpret the results of the Litigation Risk Analysis Software Models, and can explain them to your clients.
This course is presented on a "private" basis for inhouse claims and legal staffs, as well as for a company's outside counsel.
2. Written Tutorial
We have prepared a brief written tutorial which discusses two of the most important Litigation Risk Analysis concepts:
Better assessments will lead to better analyses. And a better understanding of the logic behind the results will lead to better communication with your clients.
For more details and pricing on any of the above options, please contact us as shown below.
P. O. Box 1085 Kenwood, CA 95452
phone: (707) 833-1093 fax: (707) 833-0084
Litigation Risk Analysis, Inc.
Litigation Risk Analysis is a trademark of Litigation Risk Analysis, Inc.