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What is NetRisk?

In NetRisk, the probability of a risk event occurring can be independent among the various activities it is linked to, and it might fluctuate between those activities as well. This differentiation provides a more precise depiction of risk responses, especially for activities scheduled years apart or situated across different project locations. Furthermore, NetRisk's automated risk sensitivity analysis feature consistently reassesses the entire simulation by methodically excluding the risk that poses the most significant threat. This methodology produces a tornado chart that illustrates the exact number of days each risk affects the timeline for project completion. Contrary to CPM risk analysis, which presumes that all activities start early, NetRisk takes into account the utilization of float, allowing for a more accurate evaluation of completion probabilities. By enabling activities not on the critical path to commence later, NetRisk can adeptly simulate scenarios regarding resource optimization, progress pacing, and other strategic considerations, leading to a more reliable project model. This comprehensive level of analysis not only enhances the understanding of potential risks but also empowers project managers to make well-informed decisions regarding risk management and efficient resource allocation. Ultimately, this results in improved project outcomes and greater overall effectiveness.

What is ModelRisk?

ModelRisk is an Excel add-in tailored for conducting Monte Carlo simulations, allowing users to integrate uncertainty into their spreadsheet models effectively. Since its launch in 2009, it has become a benchmark for innovation in the field, introducing a variety of technical features related to Monte Carlo techniques that facilitate the development, verification, and evaluation of risk models in a manner that aligns more closely with real-world complexities. By replacing uncertain values in Excel with specialized ModelRisk probability distribution functions, users can accurately depict the uncertainty surrounding those values. Subsequently, ModelRisk utilizes Monte Carlo simulation methods to generate thousands of potential scenarios automatically. While Excel is employed for a multitude of analytical tasks, ModelRisk uniquely focuses on assessing the uncertainty present in the numerical outcomes of Excel models. This powerful tool has been embraced by users from diverse industries for risk analysis, highlighting its adaptability and effectiveness in managing uncertainty. Moreover, its capability to visualize results not only enhances user comprehension but also aids in making well-informed decisions, ultimately leading to better strategic outcomes. In an increasingly complex world, ModelRisk empowers users to navigate uncertainty with confidence.

Media

Media

Integrations Supported

NetPoint

Integrations Supported

API Availability

API Availability

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided
Free Trial Offered?

Supported Platforms

SaaS

Supported Platforms

Windows

Customer Service / Support

Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Online Training

Training Options

Documentation Hub
Online Training

Company Facts

Organization Name

PMA Technologies

Date Founded

2011

Company Location

United States

Company Website

pmatechnologies.com/netrisk/

Company Facts

Organization Name

Vose Software

Company Location

Belgium

Company Website

www.vosesoftware.com/products/modelrisk/

Categories and Features

Categories and Features

Risk Management

Risk Assessment

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