FAQ

On this page, you can find a quick answer to some of the most frequently asked questions. In case you have a more specific question, or a question that is not listed below, you can always contact us directly, and we will get back to you as soon as possible!

General information

• Do I need to be a risk analysis expert to use ModelRisk?
  • Not at all - ModelRisk is designed in a very intuitive way, that works for any kind of users interested in doing risk analysis the right way. From beginners to risk experts. You can try out ModelRisk Standard for free as long as you want. Within ModelRisk Standard you can test out our Industrial version. If you like the features and functionalities you can upgrade to ModelRisk Professional or Industrial.
• Are there any guides to help me learn how to use ModelRisk quickly?

  • Various guides are available with a copy of ModelRisk that can help you to quickly learn about its important features.
    
    Getting started is easy with our Step-by-step tutorials. Click here to view the step-by-step tutorials.
    
    The ModelRisk help file is a more detailed compilation of all the ModelRisk features, functions and their mathematics, example models etc. Click here to access the ModelRisk help file.
    
    A range of more advanced video tutorials are available on this website to guide you through each step of building a risk analysis model. Click here to view the video tutorials.

• Is there a way to get training on ModelRisk?

  • Yes! We offer various training courses on ModelRisk - basic courses that help you with the basics of ModelRisk and more advanced courses, all given by professional risk analysts. For more information, you can visit our software training page by clicking here. Software training can be given online or on-site.

• Are there any books to help me learn risk analysis quickly?

  • The Help File for ModelRisk contains over 1100 topics on risk analysis as well as the software itself, and it is fully searchable so you can quickly get to the information you need. Other than that, David Vose's book 'Risk Analysis: A Quantitative Guide' provides a great introduction to both the theory and application of risk analysis, illustrated with many excel based example models. Click here to read a review of David's book in the Journal of Risk Management in Financial Institutions. The book is available for sale on Amazon.com and Wiley.com

• Where can I report errors and bugs in ModelRisk?
  • Even though we work very hard to deliver the best software, it is always possible you discover an unexpected result. We really appreciate you report this - it helps us improve our software, and we will be sure to fix the issue in an upcoming update! You can report bugs using this form (choose as feedback reason bug report) or through your Vose User Account in the Contact tab.

Support

• I am having trouble installing ModelRisk. Where can I get support?

  • You can reach the customer service on the following contact number during central European office hours:

    +32 (0)9 330 34 82

    You can also reach us by e-mail – support@vosesoftware.com and we'll get back to you within 24 hours during the business week.

    For more support related questions, you can talk live to one of our staff members. Click here to go to the 'Talk Live' webpage.

• I have installed ModelRisk, but ModelRisk Ribbon is not visible, what do I do?

  • Re-install ModelRisk Setup as Administrator (with Administrative privileges): right-click on a setup file and choose "Run as administrator".

Licensing

• Is there a free version available?

  • Yes, the Standard Edition of ModelRisk is completely free of charge. At any time you can start the ModelRisk Industrial trial from within ModelRisk Standard which will provide with the complete ModelRisk functionality for 15 days. After the 15 days, you will switch back to ModelRisk Standard. Click here to download your copy of ModelRisk.

• Is the free trial fully functional?

  • Both ModelRisk Standard and the trial version of the Industrial Edition are fully functional. The speed and capacity are same as a purchased version. With Vose Software, what you see in trial versions is what you get on purchase.

• Can I install ModelRisk on more than one machine?

  • If you have purchased a single user license of ModelRisk, you can install it on only one machine. If you are interested in running ModelRisk on multiple machines, e-mail support@vosesoftware.com or contact the customer service on the following contact number during central European office hours to discuss volume discounts:

    +32 (0)9 330 34 82

Installation

• What are the system requirements?

  • ModelRisk 4 requirements:

    System: Windows XP/Vista / Windows 7 / Mac OSX running parallels or VMWare Fusion (both 32 and 64 bit operating systems will run ModelRisk)

    Processor: Pentium or compatible

    Screen: Resolution 800x600

    Spreadsheet: Microsoft Excel 2003/2007/2010 (32 bit and 64 bit versions)

• Is it possible to install ModelRisk on a Macintosh?
  • Yes, this is possible! We created a quick start guide for Mac users, so you can start using ModelRisk on your Mac in no time. To download the quick start guide, click here.

Technical

• Can I increase the speed of the simulation?

  • The default settings of ModelRisk are configured to run the fastest simulations. Please check if the default simulation settings are set to 'Refresh Excel on'.

    If it is, then switch it off and then the simulation will run faster. The 'Demo run' option selected by choosing Start -> Demo provides you with the option to run the simulation slower and illustrate the simulation process. In the Demo mode, the workbook is auto-updated after each iteration.

• What file formats does ModelRisk use?

  • You can save ModelRisk results in many formats such as –

    1. ModelRisk models can be saved in an Excel format.

    2. Simulation settings are saved in files with a .vmro extension.

    3. Simulation results can be saved in files with a .vmrs extension.

    4. Optimization results can be saved in files with a .vmrz extension.

• What do I do if I have models made in other risk analysis software?

  • ModelRisk includes conversion tools for the two most common competing risk analysis Excel add-ins: @RISK from Palisade Corporation; and Crystal Ball from Oracle. There are some differences in how @RISK and Crystal Ball behave in comparison with ModelRisk. Although the converters will handle most models, we recommend that you try running the original models and converted models and compare the results to be sure the conversion has been performed correctly.

    Contact us on support@vosesoftware.com or use the following number during central European office hours to discuss model conversion on a consultancy base:

    +32 (0)9 330 34 82

• Can I share ModelRisk simulation results with a non-ModelRisk user?
  • Yes. A non-ModelRisk user can download our free ModelRisk results viewer to view the simulation results.
• Can I send a locked model to a client to simulate themselves with ModelRisk?
  • Yes, unlike most other competing products, which require the model to be unlocked during simulation, with ModelRisk you can share a password-locked version of your model file, protecting its math and data content.