What is it?
RiskAMP web is a platform for building and running stochastic analysis (Monte Carlo) models.
A Monte Carlo model starts with a mathematical model representing some process – like an investment portfolio or a project plan. We use random distributions to represent real-world randomness, like the return on an investment. Then we calculate the model thousands of times, changing the random numbers every time.
That process allows us to look at the results of the model, from thousands of trials, and understand the risk inherent in the model.
The best way to understand how it works is to try an example model – click here!
Is this a replacment for Excel?
No. Our spreadsheet functionality is very limited compared to Excel. We focus on the stochastic analysis. If you need a full spreadsheet, we recommend running the risk component in RiskAMP, and then importing the results into Excel.
Does it work with Excel?
RiskAMP web can import and export XLSX files, so for the most part you can move data into and out of Excel.
We also provide an Excel plug-in for running stocahstic models, and RiskAMP web is fully compatible with RiskAMP for Excel – you can move models back and forth and run them without any changes.
What does it cost?
RiskAMP web is currently in beta, and pricing is not set. We intend to have several tiers, including a free tier. You can also use the application without logging in, at no cost.
What are the benefits of an account?
RiskAMP web is built for sharing documents within groups and organizations. Sharing requires an account – to share your files, or to see someone else’s files (if they share them with you). Having an account also lets you comment on shared files.
We also support publishing documents, so you can create a risk model and publish it on your website or internal web application.
And an account includes benefits like support, help with designing & building your models, and priority feature development.
What browsers are supported?
RiskAMP web supports modern browsers – current versions of Chrome, Safari, MS Edge and Firefox. If you publish documents on your web page or web app, they will work in IE11 (just in case), but this application does not support IE11.
Do you support VBA?