John Hewlett, ranch/farm management specialist, University of Wyoming
Jay Parsons, professor and farm and ranch management specialist, University of Nebraska-Lincoln
Evaluating risk management alternatives can be challenging, especially without the right tools. The RightRisk Education Team has been working for nearly 20 years to develop the right tools to assist managers of agricultural operations to make the best decisions, even when the information at hand is incomplete or difficult to interpret. The team has built numerous tools to assist managers to sift through the information available and alternative management strategies to identify those that have the best chance of moving them and their operation towards their goals.
This presentation will explore the tools currently available and the general approach followed for each. Specific decision examples will be demonstrated including a look at the effect LRP insurance can have on projected revenue.