Beyond Traditional Risk Models
New approaches to complex systems using Monte Carlo simulations
Simplifying Monte Carlo Simulations for Risk Professionals
RiskSpace Explorer, from RiskPortal, is a browser-based application designed to make Monte Carlo simulations accessible to risk professionals without extensive technical backgrounds. Visualise uncertainty, model complex scenarios, and gain valuable insights - all from your web browser.
What is RiskSpace Explorer?
RiskSpace Explorer is a Monte Carlo simulation tool tailored for users who are familiar with risk assessment but may not have deep expertise in probabilistic modelling. By operating directly within a web browser, the application removes the need for specialised software, allowing users to conduct simulations and visualise results with ease.
To effectively manage risk, understanding and quantifying uncertainty is crucial. Monte Carlo simulations are a powerful tool for this purpose, enabling risk professionals to model a wide range of scenarios and assess potential outcomes. However, the complexity of these simulations can be a barrier for those new to the field.
Core Features
Define parameters using uniform and normal distributions without complex coding requirements.
Create comprehensive risk models using Monte Carlo simulation techniques with an intuitive interface.
Visualize outcomes through interactive histograms and cumulative distribution functions (CDFs).
Understand and model relationships between variables to create more realistic scenarios.
Save multiple simulation runs and compare results to identify optimal risk management strategies.
Access from any modern browser with no installation required—perfect for enterprise environments.
Who Can Benefit?
Quantify uncertainties in your risk models and produce reliable forecasts for decision-making.
Model complex financial scenarios and understand the range of possible outcomes.
Estimate project risks, costs, and timeline variations with greater accuracy.
Improve forecasting and strategic planning by incorporating uncertainty into your models.
Risk Scenario Examples
Explore dozens of pre-built scenarios to understand how RiskSpace Explorer can model various business situations. Use them as templates or starting points for your own risk modeling.
A seasonal business affected by weather conditions, equipment failures, and demand fluctuations. See how Monte Carlo simulation can help estimate total revenue despite these uncertainties.
Model the financial impact when a key third-party service provider responsible for anti-money laundering transaction monitoring experiences a system crash.
Analysis of software project costs considering professional services, overhead costs, and license costs with their interconnected relationships.
Inspired by the TSB IT incident, this scenario models the financial consequences of reputational damage through customer behavior changes and financial sensitivity.
A comprehensive assessment of an institution's vulnerability to rogue trading incidents, incorporating control effectiveness, market conditions, and behavioral risks.
Comprehensive model of cyber attack path probability analysis with contact rate, technique probabilities and foundation multipliers.
Case Studies
How a leading bank implemented RiskSpace Explorer to improve their economic capital modeling and stress testing.
Implementation of Monte Carlo techniques to model patient flow and resource allocation during crisis scenarios.
Using Monte Carlo simulation to quantify and mitigate supply chain disruption risks in global operations.
Learning Resources
Our comprehensive guide walks you through creating effective risk scenarios, defining parameters, and interpreting simulation results.
Learn from our pre-built scenarios that demonstrate how to model different types of risk across various industries and use cases.
Connect With Us
Need help developing custom scenarios or deeper insights into your risk models? Our team can help tailor solutions to your specific business needs.
hello@riskspace.com
Have questions about Monte Carlo simulation or need assistance with the tool? We're here to help you get the most from RiskSpace Explorer.
hello@riskspace.com
Ready to Transform Your Risk Modeling?
Get started with RiskSpace Explorer today and discover how Monte Carlo simulations can enhance your risk management approach.
Related Content
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