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Software & Downloads
Software & Downloads

Case Studies and Testimonials

The following are sample quotes and testimonials from present and past clients who have used the Real Options methodology and techniques, books, software, or have undergone consulting activities and training on real options, risk analysis, simulation, forecasting, and optimisation.

Testimonials on training and seminars
Testimonials on books, methodology, and analytics
Universities adopting the books and methodology in its courses and academic research




“Dr. Johnathan Mun is a brilliant and energetic instructor able to take the most difficult subjects and make them understandable and practical. Certainly the best instructor I have had in a long time.”

-Curtis Ching, Director of Business Development , Finance, GE, GE Money (Asia)



“Johnathan Mun is able to take even the most difficult and technically challenging concepts and make them simple to understand and applicable to today's challenging and changing business environments. It is definitely one of the best seminars I have ever attended and I would rate Dr. Mun among the top lecturers in the field.”

-Robert Finocchiaro, Ph.D., Director of Corporate R&D Services, The 3M Company (USA)


U.S. Department of Defense

“Great presentation! A must have! Very good session with the best cost/option/risk discussion I've seen. This should be required for every new crop of Navy Admirals. This session was awesome. Great presenter – kept us interested. He described and presented a set of tools for a senior leader to use to make better decisions. Dr. Mun was very animated and enthusiastic. Real-world examples added significantly to understanding. Demand the audience to think. Very good real-world examples were included. Simply outstanding!”

-A compilation of quotes from Navy Commanders and Captains at the U.S. Naval Postgraduate School (USA)


The Timken Company
“Dr. Johnathan Mun has been able to put together both the learning approach and teaching materials that make the changing of our cognitive schema of how we manage risk in a digestible form. Since the future of business is focused on vigilant decision making, the approach that Dr. Mun utilizes is by far one of the most effective mechanisms for supporting corporate sustainability.”

-Kenneth English, Director Emerging Technologies, The Timken Company (USA)


Gerald Eve

“Dr. Mun has the ability to take the rocket out of the science and bring complicated matters very much down to earth in a matter of fact and memorable way. Put simply you come away from his sessions not only having learnt a great deal, but starting to use it in practice immediately.”

-Robert Fourt, Partner, Gerald Eve Consulting (UK)



AIRBUS (the world's largest aircraft manufacturer in France):

“Johnathan Mun has previously published a number of very popular books dealing with different aspects of risk analysis, associated techniques and tools. This last publication puts all the pieces together. The book is really unavoidable for any professional who wants to address risk evaluation following a logical, concrete and conclusive approach.”

-Jean Louis Vaysse, Deputy Vice President Marketing, Airbus (France)


SEAGATE (one of the world's largest hard drive makers):

“A must read for product portfolio managers... it captures the risk exposure of strategic investments, and provides management with estimates of potential outcomes and options for risk mitigation.”

-Rafael E. Gutierrez, Executive Director of Strategic Marketing & Planning, Seagate Technology (USA)


GEMPLUS (makers of flash memory and smart cards in France):

“Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them.”

-Jim Schreckengast, Sr. Vice President, R&D Strategy, Gemplus International SA (France)


MONITOR GROUP (a premier consulting firm):

“...'85this book is a must have and must read...'85 Dr. Mun's new book is a refreshing, cutting-edge look at a powerful new decision making process...'85 it isn't often you can truthfully say a book breaks new ground, but [this book] has certainly done that.”

-Glenn G. Kautt, President, Monitor Group, Inc. (USA)


WHARTON (one of the world's best business schools):

“Real Options Analysis is the clearest book on real options that we have read to date. It does an excellent job of demystifying a difficult and complex subject. It provides a solid basis for conceiving, assessing, and evaluating real options investments, which will make it useful to practitioners and students alike.”

-Ian MacMillan, Ph.D., Fred Sullivan Professor of Entrepreneurship, Wharton School, University of Pennsylvania (USA)


KOZO (a premier developer in Japan):

“Many books on real options can be intimidating. Mun offers a pragmatic, reliable and entertaining guide. Complex concepts and formulas are brilliantly interspersed with well chosen examples and step-by-step walk through from a variety of industries.”

-Shota Hattori, President and CEO, Kozo Keikaku Engineering, Inc. (Japan)


GARTNER GROUP (a premier consulting and publication outfit):

“Strategy development has fallen on hard times being judged not relevant for a rapidly changing world. With this book, Dr. Mun attacks this poor excuse head-on by presenting a clearly organized, tool supported, methodology that logically progresses from exploring uncertainty that bounds risk to the creation of options for constructing realistic business strategies”

-Robert Mack, Vice President, Distinguished Analyst, Gartner Group (USA)


“Mun has converted his tacit financial knowledge into a digestible user-friendly book. He effectively leads the reader on a solid path starting from discounted cash flow, progressing through Monte Carlo analysis and evolving to real options to get even closer to the target of achieving confident corporate decisions. His ability to clearly explain the relationships of popular competing analysis methods will make this a must have reference book for today's decision makers.”

-Kenneth English, Director of R&D, The Timken Company (USA)


“Dr. Mun breaks through the hyperbole and presents a clear step-by-step approach revealing to readers how quantitative methods and tools can truly make a difference. In short, he teaches you what's relevant and a must know. I highly recommend this book, especially if you want to effectively incorporate the latest technologies into your decision making process for your real world business. ”

- Dr. Paul W. Finnegan, MD, MBA, Vice President, Commercial Operations and Development, Alexion Pharmaceuticals, Inc.


“Mun has the uncanny ability to clarify the complex, distilling risk analysis concepts into a truly readable and practical guide for decision-makers. This book blazes a trail that connects abstract yet powerful theories with real-world applications and examples, leaving the reader enlightened and empowered. “

-Stephen Hoye, MBA, President, Hoye Consulting Group (USA)


“This book is a pleasure to read both for subject matter experts as well as for novices. It holds a high risk of addicting the readers. Dr. Mun leads the readers through step by step complex mathematical concepts with unmatched ease and clarity. Well chosen examples and pointers to pitfalls complement the splendidly written chapters. This book will be a bestseller in Risk Management and is a must read for all professionals.”

-Dr. Hans Weber, Syngenta AG (Switzerland)


“Dr. Mun's new book provides the best and most comprehensive pragmatic guide to valuing strategic decisions and options--both in the corporate setting as well as in evaluating strategic military decisions. This book is an instant classic and must be read by anyone who needs to perform real options, decision, and risk analysis. The second edition is more versatile by expanding the scope and coverage of practical hands-on real options cases while continuing the high standard of excellence in the first edition. Simply put, this is the most practical and theoretically sound book I have ever read on the subject of real options analysis.”

-Tom Housel, Ph.D., Professor of Information Sciences (Naval Postgraduate School, Monterey, California)and author of “Measuring and Managing Knowledge.” (USA)


“...'85the clarity and comprehensive coverage makes it one of the best guides for all practitioners...'85 coupled with state-of-the-art financial tools CD-ROM.”

-Michael Sim, Partner, Moores Rowland International (Hong Kong)



American College
Arizona State University
Baylor University
Boston College
Capella University
Chung-Ang University (South Korea)
Colorado School of Mines
Dartmouth College
Georgetown University
Iowa State University
ITESM (Mexico)
Michigan State University
Naval Postgraduate School
New York University
Norwegian University
Open University (Germany)
Oregon Graduate Institute of Tech
Otto Beisheim (Germany)
Pennsylvania State University
Southern New Hampshire University
Stockholm University (Sweden)
Universidad Andes (Chile)
Universidad Simon (South America
Universitat Bern (Germany)
University of Alaska
University of Albany (Canada)
University of Alberta
University of Cape Town (Africa)
University of Chile (Chile)
University of Cincinnati
University of Cordoba (Central America)
University of Denver
University of Florida
University of North Carolina
University of North Dakota
University of Pennsylvania Wharton School
University of Siegen (Europe)
University of Wisconsin
University of Wuppertal
Wayne State University

Current Events
Integrated Risk Analysis and Strategic Options
Actuarial Society of Hong Kong
Time: 12:15-2:00pm, 14 Sept 2006
Venue: JW Marriott Hotel, Level 3, Hong Kong
Book through ASHK
Strategic Decision and Risk Analysis Training for HKSFA
Hong Kong Society of Financial Analysts
15-16 Sept 2006
Venue: 8/F, United Centre, Admiralty, Hong Kong
Book through HKSFA
Real Options for Executives
Time: 9:00am - 5:00pm, 18 Sept 2006
Venue: 33/F, 9 Queen's Road, Central, Hong Kong
Book online
Advanced Strategic Decision and Risk Analysis Course
Time: 9:00am -5:00pm, 19 -22 Sept 2006
Venue: 5/F, Lincoln House, Taikoo Place, Quarry Bay, Hong Kong
Book online
Asset Liability Management for Financial Institutions
IQPC - Finance IQ
Time: 9:00am - 5:00pm, 25-26 Sept 2006
Venue: Grand Hyatt Hotel, Wanchai, Hong Kong
Book through IQPC

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