XLRisk

XLRisk is an Excel addin for performing Monte Carlo simulation. It is free and open source and it is compatible with Excel for the Mac. It works in a similar fashion to commercial addins such as @RISK by Palisade.

Note:
Excel 2010 or later required. Excel 16 or newer is recommended.

Features

• Free and open source
• Can be used with both Excel for Windows and Excel for Mac
• Very easy to use
• Extensive simulation statistics and graphical output
• Implements the Latin Hypercube sampling method for faster convergence and more accurate results
• Implements the Iman-Conover method for generating samples from correlated distributions

Installation instructions and documentation

• Download and Install
• The XLRisk Ribbon tab
• The XLRisk Options dialog
• Usage Instructions
• Risk/distribution functions
• Worked Example
• Simulation Results
• Correlated Inputs Example

Tutorials

• Article on Risk Analysis using XLRisk by Zhijing Eu
• Video tutorial

Credits:
I would like to thank the ESMT students for providing an incentive for building this addin and helping to improve it. Thanks are due also to Howard Rudd for his excellent series of posts on Monte Carlo simulation. XLRisk makes use of some of his code.