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ModelRisk Review

3

Β·

Very good

Revainrating 4.5 out of 5Β Β 
RatingΒ 
4.3
Governance, Risk and Compliance, Operational Risk Management

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Description of ModelRisk

ModelRisk is an Excel add-in that allows the user to include uncertainty in their spreadsheet models.

Reviews

Global ratings 3
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Type of review

I like how easy it was for me as someone who has never used model risk before, but have had experience with excel formulas/programming - just by using this software you can create your own custom functions! It's not very intuitive at first so be patient if there are any questions or issues while trying out different things (I think they could make some tutorials available). Also sometimes when doing calculations within other programs such us Microsoft word etc., would show up blank instead of…

Pros
  • Very intuitive and easy to navigate
Cons
  • Also sometimes when trying to input a formula with spaces within the formula, it will not accept the formula

Revainrating 4 out of 5

It's been great creating models using Microsoft Word

I like that I can create a model in Excel and then use ModelRisk to create a PDF report. I also like that I can create a model in ModelRisk and share it with my team. I haven't found anything I dislike about ModelRisk. I don't use it all that much, but when I do I like how easy it is to create a model and then create a report. I wish I could create a model in ModelRisk and then share it with my team. I can't do that because I'm not a member of the ModelRisk community. I would like to be able to

Pros
  • I like that I can create a model in Excel and then use ModelRisk to create a report
Cons
  • I would like to be able to create a report in ModelRisk and then share it with my team

The ease of use, how much information can be collected from one model with multiple inputs - both physical/technical but also economic / financial as well! It would help if there was something I could do without using this tool which might make it more expensive for some businesses who may not need all these tools at once? Would recommend trying out many different risk analysis methodologies before deciding what will work best or fit your needs exactly (and so far its worked great!). We have…

Pros
  • Very user friendly software that lets us find ways around challenges & build relationships between groups across departments in order to create value together
Cons
  • Nothing