Switching from @RISK to ModelRisk
Easy to switch. Better to work with.
The built-in converter brings your @RISK models across in a couple of clicks. ModelRisk does what @RISK does, adds the Optimizer and Turbo simulation to every licence, and costs about half as much.
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Built-in converter
The free converter rewrites your models in a couple of clicks, one workbook or a whole folder. @RISK doesn’t need to be installed. Watch one convert ↓
=RiskNormal(2,4)=VoseNormal(2,4) -
All of @RISK’s functionality, and more
Everything you use in @RISK works in ModelRisk too, with 136 distributions, 34 time series models, 14 copulas and an @RISK-style ribbon. Every licence adds the Optimizer and multi-core Turbo simulation, which @RISK Professional doesn’t have.
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Save 47–56%
At list price, ModelRisk costs at most €1,550 per user per year, and the price is published. Your team’s saving ↓
@RISK Industrial€3,500 @RISK Professional€2,900 ModelRisk€1,550
@RISK editions and list prices per user per year: lumivero.com and Lumivero’s web shop, retrieved October 2026. ModelRisk: published maximum, before volume and multi-year discounts.
Watch an @RISK model convert
What happens to my formulas?
Opened in Excel without @RISK, every simulated cell in this option-pricing model shows #NAME?. The converter rewrites the five formulas that use @RISK functions and saves a converted copy, so the original stays as it was.
=C3*EXP((C7-0.5*C6^2)*C5+C6*RiskNormal(0,1)*SQRT(C5))=C3*EXP((C7-0.5*C6^2)*C5+C6*VoseNormal(0,1)*SQRT(C5))=RiskOutput("Discounted payoff call")+EXP(-$C$7*$C$5)*C15=VoseOutput("Discounted payoff call")+EXP(-$C$7*$C$5)*C15=RiskOutput("Discounted payoff put")+EXP(-$C$7*$C$5)*D15=VoseOutput("Discounted payoff put")+EXP(-$C$7*$C$5)*D15=RiskMean(C16)=VoseSimMean(C16)=RiskMean(D16)=VoseSimMean(D16)
Can I convert everything at once?
The bulk converter works through a folder, writes converted copies to a second folder and reports on every workbook and formula. Where a formula needs a person’s judgement, it is left as it was and flagged in the report.
C:\RISK models to be convertedC:\RISK models after conversion=RiskTriang(1000,2000,4000)=VoseTriangle(1000,2000,4000)=RiskTriang(20,50,100)=VoseTriangle(20,50,100)=RiskTriang(80,120,200)=VoseTriangle(80,120,200)=RiskOutput() + B5*B6*B7/10^6=VoseOutput() + B5*B6*B7/10^6Rows: the four converted formulas in AHR1.XLS. In OilOutputSmoothing.xlsx one inverse Gaussian input, RiskInvgaussAlt, was left for a person to check, with a comment in the report.
What about colleagues still on @RISK?
You don’t have to move everyone on the same day. Models can travel both ways while you switch.
Their models open on your side
Convert any @RISK workbook a colleague sends you. @RISK doesn’t need to be installed on your computer.
Your models open on theirs
The SWAP tool sends a copy where every ModelRisk function becomes a fixed, annotated value, so anyone can open it in plain Excel.
Will I find my way around?
Most analysts are productive within days. ModelRisk’s functions follow the same pattern as @RISK’s, and its ribbon can take an @RISK-style layout, chosen during installation or later from the Help menu.
@RISK’s ribbon, for comparison.ModelRisk with the @RISK-style ribbon: Distribution, Output, Fit, Time Series, Correlation and Simulate sit where @RISK users expect them.ModelRisk’s standard ribbon, for when you are ready. Video: switching the ribbon
Same idea, a different prefix
Both products use Excel functions, so most @RISK functions have a ModelRisk twin with the same arguments. The highlighted parts are what changes.
=RiskNormal(2,4)=VoseNormal(2,4)=RiskTriang(1,3,9)=VoseTriangle(1,3,9)=RiskLognorm(4,1)=VoseLognormal(4,1)=RiskOutput()=VoseOutput()=RiskMean(C16)=VoseSimMean(C16)Often shorter
Where @RISK adds property functions, ModelRisk usually has one function that does the job.
=RiskNormal(2.1785, 3.052, RiskFit("Dataset2", "AIC"), RiskName("Dataset2"))=VoseNormalFit(C1:C100)=RiskMakeInput(A5, RiskName("Sales"), RiskUnits("USD"), RiskCollect())=VoseInput("Sales", "USD")+A5Will my models run faster?
Switch Turbo on and they often run many times faster than on ModelRisk’s classic engine. ModelRisk analyses the workbook once, compiles only the cells that change between iterations and runs them on every processor core, without Excel recalculating. Turbo is included in every ModelRisk licence.
Press Run both to start the two engines together.
- Before a workbook’s first Turbo run, converted or not, ModelRisk offers to check that Turbo reproduces the classic engine on it, and keeps the result in the workbook.
- Start Turbo Simulation is on the Start drop-down. You can also make Turbo the default for a workbook, or for every new model.
- Large workbooks take a few seconds to prepare the first time, then run at full speed.
Simulation phase only: 89 models from our internal test library, same workbook, 1,000 iterations, Turbo against ModelRisk’s classic engine. Excludes the one-time model analysis and opening the workbook. The gain depends on the model’s structure. How Turbo works
What about RISKOptimizer, PrecisionTree and AI?
Three things @RISK users ask about before they switch.
Optimisation is in every licence
ModelRisk Optimizer is included in every ModelRisk licence, where @RISK sells RISKOptimizer only with its Industrial edition. The converter brings RISKOptimizer models across as well, and the whole optimisation can run on the Turbo engine.
Want to compare it with RISKOptimizer yourself? Our ten optimisation test models come in ModelRisk and @RISK versions, so you can run them in both. Download the test models
ModelRisk OptimizerDecision trees in a separate add-in
Vose Software’s ModelChoice draws and manages decision trees directly on the worksheet, adds sensitivity, robustness, EVPI and multi-criteria analysis, and imports PrecisionTree models with one click.
PrecisionTree alternativeAI assistants work with both
Lumivero’s @RISK Agent, announced as a beta in May 2026, brings Anthropic’s Claude into @RISK to review models and interpret simulation results. Lumivero, May 2026
ModelRisk MCP is free and open source. It connects Claude Desktop and other MCP clients, such as Cursor and Zed, to ModelRisk in your live workbook. There the assistant builds the model, fits distributions to your data, runs the simulation and reads the results.
Everything else in professional @RISK use, from simulation, distribution fitting and correlation to time series, aggregate modelling and reporting, is in ModelRisk too. Side by side: the top 5 risk analysis add-ins for Excel. Other options: @RISK alternatives.
What will it cost?
ModelRisk costs at most €1,550 per user per year, and the price is published. Lumivero’s web shop lists @RISK at €2,900 (Professional) and €3,500 (Industrial) per year: ModelRisk is 47–56% less at list price.
Over a three-year contract: €12,150 kept at list prices.
List price against list price, per user per year. ModelRisk adds volume and multi-year discounts; multi-seat @RISK terms are quote-based. @RISK prices: Lumivero’s web shop, retrieved October 2026, in euros as listed to EU visitors. Details: how much does @RISK cost? and ModelRisk prices.
Why @RISK users switch
We ran an informal survey of @RISK users who moved to ModelRisk and asked them why.
- Price
Every one of them named price as a main reason for looking for an alternative.
- Support
Most said @RISK’s technical support and customer service played a part. You can judge ours during your trial.
- Licensing
Almost all high-volume users valued ModelRisk’s licensing options. We advise each client on the lowest-cost set-up for their needs.
- Reporting
All of them preferred ModelRisk’s graphs and reports.
How to switch in three steps
@RISK is sold as an annual subscription, so the months before your renewal are the natural time to compare.
Install the trial
Fifteen days, fully functional, converter included. You can keep @RISK installed alongside it.
Download free 15-day trialConvert your key models
One model from the ribbon, or a whole folder with the bulk converter. Each conversion leaves the original untouched and writes a report.
Watch the 2-minute videoCompare before you renew
Run both on the same models and compare the results before the renewal decision is due.
Pre-renewal checklist
Frequently asked questions
Is this the same @RISK as Palisade @RISK?
Yes. @RISK is the Monte Carlo add-in for Excel sold by Lumivero, formerly Palisade, so Palisade @RISK and Lumivero @RISK are the same product. This guide applies to the Professional and Industrial editions in Lumivero’s web shop.
How long does switching from @RISK to ModelRisk take?
Most analysts are productive within days. ModelRisk functions mirror @RISK’s (RiskNormal becomes VoseNormal), the ribbon can be set to an @RISK-style layout, and the built-in converter translates existing models automatically, one at a time or a whole folder at once.
Can I convert my existing @RISK models to ModelRisk?
Yes. ModelRisk includes a free converter that rewrites @RISK functions as ModelRisk equivalents in a couple of clicks, with a single-model option and a bulk option for a whole folder. It saves a converted copy, leaves the original untouched and reports every formula it changed. Converted models remain ordinary, readable Excel workbooks.
Do I need @RISK installed to convert a model?
No. The converter works on the formulas in the workbook, so @RISK doesn’t need to be running or installed.
Can ModelRisk look and feel like @RISK?
Yes. During installation, or any time from the Help menu, you can switch ModelRisk’s ribbon to an @RISK-style layout that places the common tools where @RISK users expect them.
Can colleagues without ModelRisk open my models?
Yes. The SWAP tool makes a plain-Excel copy where every ModelRisk function becomes a fixed, annotated value, so anyone can open it in Excel.
Can converted models use the Turbo engine?
Yes, where Turbo supports the functions the model uses. Run it from Start Turbo Simulation, or make Turbo its default. Before the first Turbo run, ModelRisk offers to check that Turbo reproduces the classic engine on that workbook. Across 89 of our test models, Turbo’s simulation phase ran a median of about 200 times faster than the classic engine. The gain depends on the model.
What about RISKOptimizer and PrecisionTree?
ModelRisk Optimizer is included in every ModelRisk licence, and the converter brings RISKOptimizer models across as well. For decision trees, ModelChoice (a separate Vose Software add-in) draws trees directly on the worksheet and imports PrecisionTree models with one click.
Does ModelRisk work with AI assistants?
Yes. ModelRisk MCP, free and open source, connects Claude Desktop and other MCP clients such as Cursor and Zed to ModelRisk in your live workbook, so the assistant can build the model, fit distributions, run the simulation and read the results. If you use @RISK today, Lumivero’s @RISK Agent, announced as a beta in May 2026, brings Claude into @RISK.
Is ModelRisk cheaper than @RISK?
Yes. ModelRisk costs at most €1,550 per user per year, published openly, against the €2,900 (Professional) and €3,500 (Industrial) per year listed in Lumivero’s web shop (retrieved October 2026): roughly half the cost, before ModelRisk’s volume and multi-year discounts. Details: @RISK pricing and alternatives.
When is the best time to switch?
@RISK is sold as an annual subscription, so the months before renewal are the natural moment: run the free 15-day ModelRisk trial against your own models, convert your key workbooks and compare results side by side before the renewal decision is due.
Try it on your own @RISK models
Download the free 15-day trial, convert a model you know well and compare the results. If you’d rather see it first, we’ll walk you through it on a call.
@RISK, RISKOptimizer and PrecisionTree are trademarks of Lumivero, LLC. Vose Software is not affiliated with Lumivero. @RISK prices are from Lumivero’s public web shop (shop.lumivero.com), retrieved October 2026, shown in euros as listed to EU visitors, and may change.