What is RiskAMP Web?
RiskAMP web is a browser-based platform for building stochastic (Monte Carlo) risk models.
It’s browser-based, so it runs immediately without installation on Windows, Mac, and Linux
It uses a familiar spreadsheet interface for designing and building models
It includes our library of functions specifically for running Monte Carlo simulations
It supports sharing, distributing and embedding risk models over the web or in your web page or web app
It can read and write XLSX files so you can share models with Excel
RiskAMP web runs in your web browser. We support all modern browsers on Windows, Mac, Linux and Chromebooks. You can use the application on an iPad or phone, but it might not be convenient for actually typing in data.
On the left is a spreadsheet, for building risk models. There’s a complete library of spreadsheet functions and charts, and you can import/export XLSX files from Excel or Google sheets.
On the right is a workspace for the document title and description. If you share your document with others, they can add comments and more information. The description and comments use Markdown for formatting.
Building risk models is basically a process of constructing a spreadsheet.
Often, you will start with an existing spreadsheet, representing a static model, and add functions for random distributions and statistical analysis. There’s a great walkthrough on our website of how this process works here:
this was written for our Excel-based software, but the process is the same when using RiskAMP web. You can open the example model in RiskAMP web here:
You can also start with any of our example models. There are some tools in the menu that can help get you started with random distributions and building statistical results pages.
The best way to build a model is to iterate – start with one or two random functions, test the model, add some analysis functions, test the model again, and so on.
Running a Monte Carlo simulation
Once you have a basic model set up, you can run a simulation using the button on the toolbar. By default the application will run 5,000 trials, but you can change that at any time. You can also turn on screen updates, which will slow down the simulation, but which can be useful for teaching or presentation purposes.
The best way to understand the application is to use it. This walkthrough will show you the basics: