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Description
BidVariance is a web-based Monte Carlo estimation tool designed for consultants, agencies, engineering teams, and specialized contractors engaged in fixed-price projects. Users can create detailed task-oriented models by inputting optimistic, probable, and pessimistic estimates for both duration and costs, establishing connections between tasks, and incorporating probabilistic risks into their plans. The software's simulation engine performs thousands of outcome evaluations, providing insights on cost and scheduling variations, including P50, P80, and P90 results, as well as probabilities related to target margins, potential losses, and confidence in meeting deadlines, alongside the underlying assumptions that contribute to these variations. Additionally, users are able to explore alternative scenarios through Business and Consultant licenses, calculate quotes based on confidence levels, export their project information, and generate printable reports for decision-making. Project models are stored locally in the browser, but users must verify their online license to access the full suite of features. While free standalone bid calculators can be used without creating an account, the comprehensive multi-task simulation application requires a one-time license purchase for access. This combination of features makes BidVariance a versatile tool for effective project planning and risk assessment.
Description
ModelRisk is an Excel add-in designed for Monte Carlo simulations, enabling users to incorporate uncertainty into their spreadsheet models. Since its inception in 2009, ModelRisk has set the standard for innovation in the industry, pioneering numerous technical features related to Monte Carlo methods that simplify the construction, auditing, and testing of risk models while ensuring they align more closely with real-world challenges. By substituting uncertain values in Excel with specialized ModelRisk probability distribution functions, users can accurately represent the uncertainty surrounding those values. Following this, ModelRisk employs Monte Carlo simulation techniques to automatically produce thousands of possible scenarios. Similar to how Excel serves various analytical purposes, ModelRisk specifically evaluates the uncertainty inherent in the numerical output of Excel models. This tool has been utilized by users across a wide array of industries for risk analysis, showcasing its versatility and effectiveness in addressing uncertainty. Additionally, the ability to visualize the results enhances user understanding and supports informed decision-making.
API Access
Has API
No
API Access
Has API
No
Screenshots View All
No images available
Integrations
No details available.
Integrations
No details available.
Pricing Details
$129 one-time
Pro is $129 one-time for one user; Business is $249 one-time for up to five internal users in one legal entity; Consultant is $399 one-time for a consultant or consultancy analyzing client projects. Licenses are perpetual and include free minor updates; there is no subscription.
Free Trial
No
Free Version
Yes
Pricing Details
No price information available.
Free Trial
Yes
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
No
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
Yes
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
No
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
No
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
Yes
In Person
No
Vendor Details
Company Name
BidVariance
Country
Turkey
Website
bidvariance.com
Vendor Details
Company Name
Vose Software
Country
Belgium
Website
www.vosesoftware.com/products/modelrisk/
Product Features
Construction Estimating
Accounting Integration
No
Audit Trail
No
Bid Management
No
Billing & Invoicing
No
Building Product Database
No
Calculators
No
Change Orders
No
Contract Management
No
Cost Database
No
Customer Management
No
Customizable Templates
No
Electrical Estimating
No
HVAC Estimating
No
Historical Database
No
Job Costing
No
Plumbing Estimating
No
Price Data / Price Books
No
Project Management
No
Quote Management
No
Reporting/Analytics
No
Scheduling
No
Subcontractor Management
No
Takeoff
No
What-if Analysis
No
Product Features
Risk Management
Alerts/Notifications
No
Auditing
No
Business Process Control
No
Compliance Management
No
Corrective Actions (CAPA)
No
Dashboard
No
Exceptions Management
No
IT Risk Management
No
Internal Controls Management
No
Legal Risk Management
No
Mobile Access
No
Operational Risk Management
No
Predictive Analytics
No
Reputation Risk Management
No
Response Management
No
Risk Assessment
Yes
