Risk Software
Helping you make informed decisions.
Software advisory and implementation services
Choosing the right risk management software for your organisation is crucial for effective decision-making and resilience. Our expert advisory service will guide your company throughout the process of software selection.
Our unparallelled expertise and experience, across all industry verticals ensures you have the best possible foundation to extract maximum value from risk-based decision-making.
Software solutions
Monte-Carlo Simulation
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Independent study found Safran Risk runs 97% faster than OPRA (Pertmaster)
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Secure and stable SQL database for your largest logic linked resource loaded schedules
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Clear, simple Reporting with added automation (not just S-curves and Tornado diagrams)
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Automated Sensitivity Analysis by Exclusion (Dr. David Hulett) for milestones, hammocks & costs
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Oracle P6 .XER + Microsoft Project .XML + .MPXJ Interoperability
Decision Trade-Offs
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Joint Confidence Levels (JCL) via integrated Cost & Schedule Risk Analysis.
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Stochastically test risk mitigation proposals for smarter cost-benefit analysis.
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Utilise Lessons-Learned & Actual Performance (or historical weather data).
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Easier User-Interface for applying different types of correlation.
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Real-Time Analyser to spot anomalies before committing to full simulation.
Improve Stakeholder Buy-In
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Increased model transparency and simple workflows.
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Enhanced engagement and collaboration though what-if comparison.
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Leverage the Risk Driver method to clearly show cause & effect.
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Fast & intuitive for live risk workshops and presentations.
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Automatically visualise risk adjusted Gantt charts and Cashflows.
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Fully customise how schedules are visualised to elevate audience comprehension.
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Re-use time freed-up to improve model validity, stress-test & discover/propose new recommendations.
Improve Project Speed, Cost And Profit
Effortlessly combine advanced project schedule risk, and cost risk analysis for greater insight and smarter, real-time decision making. Safran Risk empowers you to better understand, manage and mitigate against risk and deliver improved project outcomes.
STEP #1
Consult
We begin by consulting with you to comprehensively understand your business objectives, risk maturity levels and software requirements.
STEP #2
Develop
We then work with you to develop a roadmap for the purchase, implementation, and successful adoption of the software.
STEP #3
Support
We will remain a trusted partner after the initial rollout, providing ongoing services throughout your change management journey, to help you maximise your ROI.
Background
@RISK, initially developed by Palisade Corporation and now sold by Lumivero, and ModelRisk by Vose Software stand as the primary Excel add-ins for Monte Carlo simulation. @RISK, established over two decades ago, previously held a dominant position in this domain. However, changes in leadership following the passing of its inventor, alongside transitions in ownership to various external firms, have inevitably shifted its philosophy and culture. Consequently, many longstanding @RISK users have expressed dissatisfaction and begun seeking alternatives.
The transition from @RISK to ModelRisk
An increasing number of @RISK users are opting to switch to ModelRisk. To understand their motivations, an informal survey was conducted. Here are the key reasons that were discovered:
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Cost: Participants unanimously cited price as a significant factor prompting their search for alternatives. ModelRisk licenses typically cost around half as much as equivalent @RISK licenses, with the potential for even greater savings with bulk discounts. Additionally, the expenses associated with software training are notably lower.
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Support: The majority of respondents expressed discontent with the technical support and customer service provided by @RISK. Ferryfield place much greater focus on support from evaluating your requirements to implementation to use efficacy.
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Licensing flexibility: Nearly all high-volume users appreciated the flexible licensing options available with ModelRisk. Ferryfield are adept in assisting clients in selecting the most cost-effective option tailored to their needs.
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Performance: Users reported that ModelRisk outperformed @RISK in terms of usability, speed, and stability during testing.
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Reporting: All users favoured ModelRisk's graphing and reporting capabilities.
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Capabilities: Advanced users praised the broader range of tools offered by ModelRisk.
Quantitative risk analysis software
Vose Software designs, develops, sells and supports a range of quantitative risk analysis software.
ModelRisk is the pre-eminent risk analysis tool for business, science, engineering and government.
ModelRisk fully integrates with Microsoft Excel, automating Monte Carlo simulation in your Excel models so you can fully understand the risk and uncertainty involved in key decisions.
ModelRisk uses simulation techniques to compare different decision options so you can select the ones that are most likely to succeed, and develop the most-cost effective strategy for reducing risk.
Tamara is a standalone desktop MS Windows-based application that allows users to include uncertainty in their project risk analysis models.
To begin, the user imports a Primavera or Microsoft Project model into Tamara. During import, Tamara performs a health check on the model, providing a set of scores on the schedule's quality and highlighting any specific issues. Uncertainty about the time and cost of completing each task is then added by considering uncertainty in the task scope and the rate of progress in achieving the work. Risk events can also be added that would delay a task, the whole project, part of a project, require extra work to be done, etc. Tamara stores all this information with a copy of the original project schedule in a special file format. No changes are made to the original Primavera or Microsoft Project file, but when the project plan is updated, Tamara can update its own file with a single mouse click and adapt the risk and uncertainty information accordingly.
Pelican Risk Register
A risk register, sometimes called a risk log, is a database of risks used to identify, assess and manage risks, particularly operational risks (losses caused by human error, failed processes, fraud, etc.). It is also typically used to fulfill regulatory compliance by documenting and reporting identified risks.
A risk register will list the risks that are considered the most threatening to the organization. The risks often have some potential financial impact, but they can also include other dimensions like injury, environmental impact, and loss of reputation.