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What is Pims Risk Management?

This framework provides a holistic perspective on various opportunities and challenges, ensuring that both team members and stakeholders have a shared understanding of the associated risks, processes, and their specific roles. The Risk Management system is crafted to tackle potential impacts on your organization or project, covering both beneficial and detrimental outcomes. As a qualitative resource, it supports the identification, documentation, and dissemination of risks, allowing users to easily access relevant risks and their corresponding mitigation plans. Users can effortlessly update or alter details with minimal assistance needed. Key elements of this process involve recognizing opportunities and threats, evaluating and prioritizing them, and consistently monitoring progress while keeping the risk matrix and related actions up to date. This tool not only facilitates effective prioritization and communication of risks but also tracks mitigation efforts meticulously, offering a thorough historical record of each risk's development over time. By promoting a structured approach to risk management, this system significantly improves decision-making and strategic planning within the organization, ultimately contributing to a more resilient operational environment. Additionally, the collaborative nature of this framework encourages a culture of proactive risk awareness among all team members, further fortifying the organization's overall risk posture.

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

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

Has API

API Availability

Has API

Pricing Information

$27 per user per month
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Omega

Date Founded

1992

Company Location

Norway

Company Website

omega.no

Company Facts

Organization Name

Vose Software

Company Location

Belgium

Company Website

www.vosesoftware.com/products/modelrisk/

Categories and 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

Categories and 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

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