ModelRisk academic program
ModelRisk for universitiesDiscounts for teaching, research and study
Vose Software offers substantial discounts to academic institutes and students. ModelRisk adds Monte Carlo simulation to Microsoft Excel, so students learn risk analysis in a spreadsheet they already know, and researchers can use the same tool for their own models.
Academic prices
Pick the licence that fits
Each academic licence is a one-year ModelRisk contract, priced in euros.
Students
Student
€90per year
An individual licence for one student.
Not sure yet? The 15-day trial is the full product, free.
Download the free trial →
Academic staff
Individual
€395per year
An individual licence for one person at an academic institute, such as a teacher or researcher.
Network
€895per year
Network concurrent licensing shares a limited number of ModelRisk licences among a larger number of users.
- Minimum order: five simultaneous connections
- More cost-effective once 15 or more people use ModelRisk
Campus
Classroom
€1,995per year
For professors who use ModelRisk in a single classroom. An introductory package for using ModelRisk on a limited scale.
- Install on up to 60 computers
University
€4,495per year
For rolling ModelRisk out across all your campuses: the annual campus licence can be used by the whole student body and the teaching staff.
- Install on personal computers
- No need to stay connected to the university network
- No limit on concurrent users
Licences are offered subject to the institute’s adherence to our academic terms and conditions. Academic licences may not be used for paid work.
Request an academic licence →Request a licence
Ask for an academic licence
Send the form and we will get back to you as soon as possible. To organise an installation on the institute’s network, a member of its IT department should send it.
Choose a licence
Student, academic individual or network, classroom or university.
Check the academic terms
Licences are offered subject to the institute’s adherence to them.
Send the form
We will get back to you as soon as possible.
The academic terms in brief
- Academic licences are issued to recognised academic institutes only.
- Not for commercial work: students and professors may not use them for paid work. A commercial licence covers that.
- Only for people at the institute, not for people who have left it.
- Acknowledge ModelRisk in research you publish with it.
- Technical support goes through the institute’s IT department.
Request an academic licence
Fields without “optional” are required.
Why ModelRisk
What ModelRisk brings to a course
ModelRisk turns any Excel model into a Monte Carlo simulation. Students describe uncertain inputs with distributions, run thousands of scenarios and see which inputs drive the result.
Stays in Excel
ModelRisk works inside Microsoft Excel and keeps your existing models and formulas. Each uncertain input is an ordinary Excel formula, so students can see how every part of the model works.
136 distributions
From PERT, Normal and Lognormal to specialist families for extreme values, insurance losses and reliability. Each has an interactive guide to its theory and use.
Fitting to data
Fit distributions, 34 time series models and 14 copulas to data by maximum likelihood, ranked by SIC, HQIC and AIC, with Bayesian model averaging and parameter uncertainty.
Results that explain
The Results Viewer shows every outcome the model can produce and how likely each one is, and ranks which inputs drive the result.
Easy to check
Select any ModelRisk cell and click View Function to see what it does. An invalid input returns a plain explanation, and the help file covers more than 1,000 topics.
Turbo for large models
Turbo, the optional high-speed engine, ran the simulation phase a median of about 200× faster than ModelRisk’s classic engine across 89 internal test models.*
* 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.
See everything ModelRisk does →Teaching material
Material for lectures and self-study
Use these alongside ModelRisk in class, for coursework or to learn on your own.
Video tutorials
Short videos that show ModelRisk at work in Excel, many with a workbook to follow along.
Watch the videos →Example models
Worked risk analysis models in Excel that students can open, run and take apart.
Browse the examples →Risk Wiki
A free online risk analysis manual of about 1,000 pages: techniques, equations, tips, and the ModelRisk functions.
Open the Risk Wiki (opens in a new tab)Online course
Essentials of Business Risk Analysis Modeling on Udemy: lectures, examples, exercises and optional tests. Recorded by our co-founder, the late David Vose.
See the course (opens in a new tab)Our co-founder, the late David Vose, wrote Risk Analysis: A Quantitative Guide. For live sessions, see the free webinars and the courses on our training page.
FAQ
Questions about academic licences
Who can get an academic licence?
Recognised academic institutes, their staff and their students. Licences are offered subject to the institute’s adherence to our academic terms and conditions.
Can I use an academic licence for paid work?
No. Academic licences may not be used for commercial purposes, meaning paid work, by students or professors. Anyone who needs ModelRisk for paid work can buy a commercial licence.
Which licence suits a course?
For one classroom, the Classroom licence covers up to 60 computers. To give every student and teacher access across all campuses, the University licence covers the whole institution. It can be installed on personal computers, with no need to stay connected to the university network. A network licence shares a limited number of connections among more users.
Can I try ModelRisk before I ask for a licence?
Yes. The 15-day trial is the full product. When it ends, ModelRisk reverts to the free Basic edition with reduced features.
What does ModelRisk need to run?
ModelRisk runs on Windows 10 and 11 with Microsoft Excel 2016, 2019 or Microsoft 365, in 32-bit or 64-bit, and needs .NET Framework 4.8. Full details are on the system requirements page.
Do I need to credit ModelRisk in published research?
Yes. The academic terms ask the institute to acknowledge ModelRisk where it is used to produce published research, and to make sure its researchers know this.
Who do I contact for technical support?
Technical support for an academic licence goes through the institute’s IT department, which contacts Vose Software.
Bring ModelRisk into your teaching
Request an academic licence, or try the full product free for 15 days first.