ModelRisk update log

We are committed to continually improving ModelRisk. This update log lists the improvements made with the most recent improvements listed first. Your copy of ModelRisk will automatically prompt you every third time you run it to install an update if one is available. Please note that the update will not install if your maintenance contract has expired. If you have suggestions for improvements, or find a bug please contact support@vosesoftware.com with the fullest possible description.

All ModelRisk users with a current maintenance plan can upgrade to this latest version free of charge. You can always check if you have the latest version of ModelRisk by clicking "Check for updates" in the Welcome screen, or "upgrade licence" in the "About ModelRisk" section under 'ModelRisk help' in the ModelRisk ribbon.

January 31 2012: Version 4.3 is released

1. More distributions
ModelRisk now includes an additional 19 new distributions. Each distribution has been carefully selected to bring extra real world value to your modeling.

• Burnt Finger Poisson
• GEV
• HypergeoD
• HypergeoM
• KernelCU
• Lifetime2
• Lifetime3
• LifetimeExp
• LogTriangle
• LogUniform
• Maxwell
• NormalMix
• NormalAlt
• PoissonUniform
• Skellam
• SkewNormal
• Slash
• Weibull3
• ZISkellam

2. Goto sample feature
ModelRisk now includes a feature that allows you to select any generated scenario from your simulation run and reproduce it in your model. This lets you investigate any scenario in full that is of interest, or allows you to recreate an error in your model that would be hard to find otherwise.. It is also a very useful feature if you need to show where your simulation results came from, or demonstrate that a risk is being modeled correctly - for compliance with regulators, for example.

3. Simulation statistics functions
Functions like VoseSimMean, that return the statistic of a nominated cell after a simulation run, now retain their values when you save and close the model. This means that you won't have to rerun the model the next time you open it to be able to see the values they take.

4. Simulation results data list
We have improved how the ModelRisk Results Viewer handles results data so you can now view, sort and filter simulation data results instantly no matter how large the simulation run.

5. Simulation results data export
We have improved the order in which the ModelRisk Results Viewer exports the simulation data to spreadsheets, so inputs, outputs and series are easier to find and use.

September 22 2011: Version 4.2 is released

1. 64-bit version released.

2. Simulation functions added: VoseSimCorrelation, VoseSimCorrelationMatrix, VoseSimValue.

3. Simulation functions (VoseSimXXX) can now return results if entered into the spreadsheet after the simulation.

June 21 2011: Version 4.1 is released

1. Distribution Fit Overlay charts: in the distribution fit interface, several fitted distributions can now be overlaid in f(x), F(x), PP and QQ plots.

2. Pareto charts have been added to the Results Viewer interface. A Pareto chart combines Histogram and Cumulative Ascending plots of simulation results.

3. Advanced chart properties tools are now available for all ModelRisk Results Viewer charts. The feature has been added to the following chart types: Tornado chart, Spider plot, Scatter plot, Trend plot, Pareto chart

4. ModelRisk Converter is now supported under Excel 2003 and Excel 2002

5. A bug with the Tornado plot has been fixed. This bug occurred with rank order correlation plots in some circumstances when inputs and outputs were all discrete variables. The update will generate correct plots for your previous simulation results files.

6. A few minor bug fixes and improvements

April 18 2011: Version 4.0 is released

Click here to look at the overview of the new features in ModelRisk 4.0.

December 20 2010: Version 3.0.1.4 released

New chart properties interface for the Histogram, Cumulative and Box-plot charts in the Results Viewer interface

Simulation results report template is now saved within the spreadsheet

Optimization settings interface has improved

"String constraint" option is added to the Optimization interface

A few minor improvements and fixes.

Oct 1 2010: Version 3.0.1.3 released

Added functionality to the distribution viewer window that allows overlaying distributions taken from Excel ranges

Network license improvement: added support for 2-type installations: full client installations and launch from a server.

Added VoseBetaSubj functions (Distribution, Prob, Fitting, Objects, etc..)

A few minor improvements made.

May 23 2010: Version 3.0.1.1 released

Added option to set the seed in the Stochastic Optimization.

A few minor improvements and fixes.

May 15 2010: Version 3.0.1.0 released

Two new subjective distributions:

• TriangleAlt
• PertAlt

The ability to plot multiple simulation results together in the same graphs within ModelRisk's Results Viewer.

VBA functions to automate simulation settings, running, creating results viewer charts, reporting to Excel, and setting up and performing optimization runs.

The ability to run VBA macros before and/or after a simulation run, and before and/or after each model recalculation.

CVAR (conditional value at risk) calculations in simulations and optimizations. (Only applies to the Insurance and Finance module)

Support for various language characters in ModelRisk charts.

The ability to export optimization reports to Excel.

Several other smaller enhancements.

Mar 9 2010: Version 3.0.0.6 released

Three new distributions (distributions with alternative parametrization):

• LogNormalAlt
• LogLogisticAlt
• WeibullAlt

Macro settings tab in the Simulation Settings window, which allows running VBA macros during simulation.

Minor improvements and fixes.

Feb 19 2010: Version 3.0.0.5 released

• New licensing option: ModelRisk Standard version
• Improvements in the Tornado chart
• Few minor improvements and fixes

Jan 14 2010: Version 3.0.0.4 released

• New installation and activation procedures
• Network Licensing for ModelRisk
• Few minor improvements and fixes

Dec 18 2009: Version 3.0.0.3 released

Optimization interface:

• New setting added that controls the update of the graph during optimization
• Optimization settings window: invalid optimization variables are shown in the table and can be corrected through the interface
• Optimization algorithm improved and became faster
• Optimization results graphing changed
• Added support for long optimizations
• Fixed several bugs

Simulation Results window:

• Improved several interface features

New spreadsheet functions added:

• VoseSimSemiVariance
• VoseSimSemiStdev
• VoseSimMeanDeviation
• VoseSimMin
• VoseSimMax

Some minor bug fixes

Nov 30 2009: Version 3.0.0.2 released

• VoseOptConstraintBetween(Name, MinValue, MaxValue, Enabled) added
• VoseOptRequirementBetween(Name, Statistic, MinValue, MaxValue, Enabled) added
• Optimization results window can now be visible during optimization by switching on the corresponding option in the Optimization Settings window.
• Optimization Results window is now resizable.
• Minor changes and bug fixes in the ModelRisk Library interface.
• Minor changes in the Simulation results window.

23 Nov 2009: Version 3.0 released