Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
ModelRisk is an Excel add-in designed for Monte Carlo simulations, enabling users to incorporate uncertainty into their spreadsheet models. Since its inception in 2009, ModelRisk has set the standard for innovation in the industry, pioneering numerous technical features related to Monte Carlo methods that simplify the construction, auditing, and testing of risk models while ensuring they align more closely with real-world challenges. By substituting uncertain values in Excel with specialized ModelRisk probability distribution functions, users can accurately represent the uncertainty surrounding those values. Following this, ModelRisk employs Monte Carlo simulation techniques to automatically produce thousands of possible scenarios. Similar to how Excel serves various analytical purposes, ModelRisk specifically evaluates the uncertainty inherent in the numerical output of Excel models. This tool has been utilized by users across a wide array of industries for risk analysis, showcasing its versatility and effectiveness in addressing uncertainty. Additionally, the ability to visualize the results enhances user understanding and supports informed decision-making.
Description
This framework allows for a comprehensive view of various opportunities and challenges, ensuring that both team members and stakeholders share a mutual comprehension of the risks, processes, and their respective responsibilities. The Risk Management system is designed to address potential effects on your organization or project, encompassing both advantageous and adverse outcomes. As a qualitative tool, it facilitates the description, documentation, and sharing of risks, enabling users to access pertinent risks and corresponding mitigation strategies. Users can easily add or modify information with minimal guidance required. Essential components of the process include identifying opportunities and threats, assessing and prioritizing them, and monitoring progress while regularly updating the risk matrix and associated actions. This tool not only aids in prioritizing and conveying risks effectively but also tracks mitigation efforts, providing complete traceability of the historical evolution of each risk over time. By fostering an organized approach to risk management, this system ultimately enhances decision-making and strategic planning within the organization.
API Access
Has API
API Access
Has API
Integrations
No details available.
Integrations
No details available.
Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
$27 per user per month
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
Vose Software
Country
Belgium
Website
www.vosesoftware.com/products/modelrisk/
Vendor Details
Company Name
Omega
Founded
1992
Country
Norway
Website
omega.no
Product Features
Risk Management
Alerts/Notifications
Auditing
Business Process Control
Compliance Management
Corrective Actions (CAPA)
Dashboard
Exceptions Management
IT Risk Management
Internal Controls Management
Legal Risk Management
Mobile Access
Operational Risk Management
Predictive Analytics
Reputation Risk Management
Response Management
Risk Assessment
Product Features
Risk Management
Alerts/Notifications
Auditing
Business Process Control
Compliance Management
Corrective Actions (CAPA)
Dashboard
Exceptions Management
IT Risk Management
Internal Controls Management
Legal Risk Management
Mobile Access
Operational Risk Management
Predictive Analytics
Reputation Risk Management
Response Management
Risk Assessment