Calculating risk since 2008
Quantitative risk analysis software
Vose Software designs, develops, sells and supports a range of quantitative risk analysis software. Our mission is to provide quantitative risk analysis software that are:
A pleasure to use
We put great emphasis on contextual help file links, tool tips, well-described input interfaces, and error captures that make our products stable and easy to use.
Unmatched in technical ability
We build applications with features that we know from practical experience will help you manage your risk better.
Great value for money
Our desktop applications typically cost 20-60% of less than the competition, but with more features, and a flexible licensing policy.
Our software products can be used independently by risk specialists in different roles. They can also be combined to achieve a consistent and holistic view of risk across the organisation.
How quantitative risk analysis adds value to your organisation
The ability to evaluate the aggregate exposure to risk is central to an organisation’s success. Aggregating risk can only be done with quantification, meaning assigning real numbers to the likelihood and potential impact(s) of each significant risk event. Just as numbers can be summed, so can probability distributions. It is impossible to sum risk, or compare sets of risks, using scores one see in a typical heat map, or phrases like “low” and “critical”. Without proper quantification, risk management is guesswork at best. This is why all VOSE software products are quantitative, opening up a host of benefits not available with qualitative risk analysis:
- Aggregate risks to understand an organisation’s exposure and compare with its risk appetite
- Slice and dice risk exposure by product, region, etc. to better understand where risk is concentrated
- Determine the right insurance parameters and the appropriate premium to pay
- Find risk management strategies that are cost-effective and save money eliminating those that are not
- Compare investment options, or strategies for executing a project, that balance risk against reward
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The four software tools needed for integrated risk management
There are many different functional roles within a large organisation that are impacted by risk and uncertainty. These roles use software tools that are specifically designed for evaluating risk and making more informed decisions within the context they focus on. The use of different tools and analytical techniques results in silos of risk management activity, which has been a major impediment to creating a truly global view of the risks facing an organisation. Vose Software has addressed this challenge by incorporating these various tools into one unifying platform and ensuring that the information they use and generate are coordinated and internally-consistent.
Risk analysis add-in for Excel
Many professional disciplines use Monte Carlo simulation models in Excel to evaluate their risks of interest. These include investment analysts, cost estimators, engineers and revenue forecasters. ModelRisk is the most comprehensive Monte Carlo Excel add-in on the market with built-in tools to address the diverse needs of these various disciplines
Project cost and schedule risk analysis software
The achievement of business objectives very often depend on the success of one or more projects, which may be severely delayed or experience important cost overruns. Project managers use specialist project cost and schedule risk analysis tools that incorporate uncertainty in task durations and costs, and the risks that may cause delays or additional costs, to obtain realistic estimates for completion dates and budgets. Tamara is a desktop application that allows one to import a Primavera or MS Project schedule and perform a comprehensive risk analysis.
Enterprise-level risk register
Risk managers use risk registers for documenting, managing and tracking operational risks. Large organisations will use a web-enabled platform for collecting the information because of the large numbers of people that need to be organised and tracked. Pelican provides a comprehensive suite of tools for establishing, recording, and tracking risks. Pelican uses quantitative methods for scaling risk estimates and providing consistency across different impact types like financial loss, reputational loss, and ESG metrics.
Integrated risk management
Pelican supports risk-based decision making by providing a wealth of analytical tools for evaluating the effect of risk on key business objectives. It can incorporate risk information from spreadsheet risk analysis models, project cost and schedule risk, and the Pelican risk register to provide an integrated, consistent and holistic view of risk. Using Pelican, our customers have a clear view of what risks most threaten their objectives, and where best to assign resources for the most cost-effective risk management.
The benefits our risk software will bring you
Our quantitative risk analysis and management software will enable you to:
- Consistently identify the investments with the best risk-reward balance and ensure investments in aggregate fall within you organisation’s risk appetite
- Understand the key risk drivers that threaten the achievement of the objectives of your business and develop strategies for managing them most effectively
- Provide regulators, board members and shareholders a logical and comprehensive overview of your organisation’s risk exposure
- Create reports on risk that speak the language of the C-suite
- Compare your organisation’s aggregate risk exposure against its tolerance for risk
- Consistently evaluate non-financial risks like ESG and health and safety alongside financial risks and the resources needed to mitigate them most effectively
- Typically, save 10-25% of money currently spent on risk management whilst improving your risk posture by optimising allocation of resources
- Save 30% or more on insurance premiums through better data collection, risk evaluation, and policy modelling
- Get more realistic cost and finish dates of key projects, identify their major risks and organise their management to guarantee delivery success
- Build and share corporate knowledge and experience on the best methods for managing specific types of risk
- Apply methodologies that ensure consistent risk assessment practices are used across the organisation
What you can expect from us
VOSE began its journey as a risk analysis consultancy specialising in providing its clients with the best available information for making decisions in the face of uncertainty. Our approach was to find the simplest and clearest analysis that compared the different decision options, using the most defensible data and assumptions, and present them in the clearest possible way to the decision-makers. The software we produce is designed around that philosophy. Whilst we strive to make our software products the best they can possibly be, they are still only tools.
We have been performing risk analyses for over thirty years – using our own tools. We want you to get the maximum value from using our software. When you purchase a license from us you can expect:
We won’t overcharge, hide costs or misrepresent our products
Customers often have some kind of issue with licensing, budgets, or billing. We’ll try to help find a solution
We like to hear how you use our software, and how you think we can improve it
Technical support is our #1 priority. We prioritise taking care of the customers we already have over getting new ones
Our customers benefit from tailored training on risk analysis (not just software familiarisation) or access to advice on how to build a model, describe a risk, present a report – all from seasoned experts