ModelRisk review
A specialized Windows Excel add-in for probabilistic risk modeling and simulation.
Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
ModelRisk is a Windows desktop add-in for Microsoft Excel that helps analysts model uncertainty with Monte Carlo simulation. It is aimed at business, science, engineering, government, insurance, investment, and other work involving risk and uncertainty. The product supports probabilistic models, probability distributions, distribution fitting, time-series modeling, correlation and copula modeling, sensitivity analysis, scenario analysis, interactive charts, and statistical reports. Its Excel-centered design makes it a fit for quantitative risk modelers who already work in spreadsheet-based workflows.
The published plans show a free Basic edition alongside paid Complete functionality. ModelRisk Desktop costs €1,550 per user per year with annual billing and provides a single-computer desktop license. ModelRisk Network costs €4,750 per concurrent seat per year and includes concurrent-seat network licensing with classic or cloud-based network licensing. The product also offers a 15-day free trial. These options suit individual desktop users and organizations that need shared network access, but the paid tiers represent a specialized investment for teams seeking risk-analysis capabilities rather than general financial modeling.
ModelRisk’s strongest differentiator is the depth of its uncertainty-analysis toolkit inside Excel. Users can import data from Excel worksheets and ODBC databases, fit distributions and time series, examine correlations, run scenarios and sensitivities, and export reports to Excel, Word, PowerPoint, and PDF. Converters for @RISK and Oracle Crystal Ball models can support transitions from those workflows, while integrations include Microsoft Excel, ODBC databases, Tamara, and Pelican. Choose ModelRisk when Monte Carlo analysis and probabilistic modeling are central to the work. Choose another tool if the priority is cross-platform access or a dedicated three-statement and accounting platform.
ModelRisk pros and cons
- Where it wins
- Monte Carlo simulation, distributions, time series, and copula modeling
- Imports Excel and ODBC data and converts @RISK and Crystal Ball models
- Exports statistical reports to Excel, Word, PowerPoint, and PDF
- Where it doesn't
- Windows-only desktop deployment
- Paid entry plan starts at €1,550 per user per year
- Focused on risk analysis rather than dedicated three-statement modeling
ModelRisk fact sheet, pricing and score →
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