A useful risk analysis application that uses Monte Carlo simulation to show you a wide range of possible outcomes in your spreadsheet model
Whether you are aware of the risk analysis you make every time a decision is needed, the process happens and it usually has to do with the experience you have in certain domains or in general. Moreover, doubt can creep in and then it is time that a particular method should be employed to calculate all the possible outcomes.
Such a method is the Monte Carlo Simulation that comes in the form of a digital mathematical procedure to quickly and easily help you with your decision making process, whether it has something to do with the financial domain or other various fields of activity such as project management, research, engineering, development, energy, transportation, oil and gas, manufacturing or even environment.
As @RISK revolves around the Monte Carlo Simulation method, it can provide you with the most severe prospects, from the drastic ones to the more traditional resolution alongside middle-of-the-road choices analysis for calculation of the aftermath. As a side note, the Monte Carlo Simulation was initially used in the building process of the A-bomb.
The bottom line of @RISK is that it can rarely supply you with inaccurate results, thus tough decisions are likely more ease to be made, with more confidence. @RISK comes packing one of the best methods on the market and its integration with two of the most well-known project management applications can only be regarded as a worthy asset.
Reviewed by Alexandru Pintilie, last updated on July 29th, 2014
In a hurry? Add it to your Download Basket!
What's New in version 6.2.1
- The time required to initialize a simulation of models from Microsoft Project has been dramatically reduced for most cases. The improvement is most significant in models with many tasks.
Application description@RISK is a powerful risk analysis software that enables you to ake into account all possible scenarios using Monte Car...