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Mitigate Risks

Optimization with Monte Carlo Simulation in Excel With RISKOptimizer

Solve optimization problems by using genetic algorithms or OptQuest methods, along with Monte Carlo simulation, with Lumivero’s RISKOptimizer. This tool tries different combinations of adjustable cells to achieve your goal while running Monte Carlo simulations on each trial solution to account for inherent uncertainty. The result is the most robust, accurate solution possible.

Solve Complex Allocation Problems involving Uncertain Variables

Wouldn’t you like to know the best allocation of your limited resources to maximize your profits? Or the most efficient schedule to minimize costs? But what about the uncertainty inherent in sales projections, returns from individual investments, or production costs?

Traditional optimization methods ignore this uncertainty, a very risky approach. RISKOptimizer tells you not only the best combination of inputs to use, but the risk associated with each strategy. You can seek out strategies that enable you to minimize your risks while achieving your goals.

What is RISKOptimizer?

RISKOptimizer combines the Monte Carlo simulation technology of @RISK, Palisade’s risk analysis add-in, with the latest solving technology to allow the optimization of Excel spreadsheet models that contain uncertain values. Take any optimization problem and replace uncertain values with @RISK probability distribution functions that represent a range of possible values. For each trial solution RISKOptimizer tries during optimization, it runs a Monte Carlo simulation, finding the combination of adjustable cells that provides the best simulation results.


Works with Microsoft Excel
Optimize Tough Problems under Uncertainty
Compare Different Solutions
Communicate Results and Data with Others
Monitor Optimization Progress with RISKOptimizer Watcher

How RISKOptimizer Is Used

RISKOptimizer has a multitude of applications, including:
Investment Planning & Portfolio Optimization
Optimize and simulate multiple portfolio assets (such as stocks, bonds, real estate, or projects) to maximize return while minimizing risk. Perform efficient frontier analysis to identify the best portfolio for a given level of risk.
Supply Chain Management
Optimize multiple suppliers to minimize failure points and maximize probability of deliveries, while simulating uncertain risk factors.
Inventory & Capacity Planning
Manage inventory more effectively, improve capacity planning, and schedule workforces and equipment use more efficiently - all while simulating risk factors such as customer demand and worker productivity.
Capital Reserves
Probabilistically forecast and optimize different reserves levels subject to uncertain demands on capital.
Product and Pricing Mix
Identify the optimal product mix offering and price points to maximize sales subject to uncertainties around demand, production, or other factors.

Industries using @RISKOptimizer

Key Features

Optimization Under Uncertainty

By running Monte Carlo simulations to account for uncertain conditions, RISKOptimizer provides the best possible solutions to your allocation, budgeting, and scheduling problems.

100% Microsoft Excel Integration

RISKOptimizer integrates seamlessly with Excel, adding a host of new, native functions that enable you to work in a familiar environment. Furthermore, the Excel integration ensures that the integrity of your modeling logic remains intact, for the most accurate results.

Graphs and Reports

RISKOptimizer analyses are robust, and come with easy-to-understand graphs and reports to enable you to communicate complex results to other stakeholders intuitively. This helps focus discussions on how to make the most of the insights gained.

Follow up from @RISK

Once you have defined uncertain variables and set up Monte Carlo simulation in an @RISK model, you can easily adapt the same model to use RISKOptimizer as a logical next step. Simply tell RISKOptimizer which variables are controllable, and it will optimize your model utilizing the existing @RISK functions already present.

Advanced Solving Engines

RISKOptimizer includes algorithms well-suite for both linear (simpler) and non-linear (more complex) problems. The OptQuest engine integrates a variety of methods into a single composite powerhouse, and the genetic algorithm engine is proven to find the best global solution to more complex, real-life problems.
FeatureBenefitProfessional EditionIndustrial Edition
Optimization under uncertaintyCombines Monte Carlo simulation with sophisticated optimization techniques to find optimal solutions to uncertain problems. Used for budgeting, allocation, scheduling, and more.
Efficient Frontier AnalysisEspecially useful in financial analysis, Efficient Frontiers determine the optimal return that can be expected from a portfolio at a given level of risk
Ranges for adjustable cells and constraintsStreamlined model setup and editing
Genetic algorithmsFind the best global solution while avoiding getting caught in local, “hill-climbing” solutions
Six solving methods, including GAs and OptQuestAlways have the best method for different types of problems
RISKOptimizer Watcher and Convergence MonitoringMonitor progress toward best solutions in real time
Overlay of Optimized vs Original DistributionCompare original output to optimized result to visually see improvements
Original, Best, Last model updatingInstantly see the effects of three solutions on your entire model
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Enterprise Licensing
Better Research, Insights, and Outcomes for All

Whether your organization’s focus is qualitative, quantitative, or mixed methods data analysis, we can help your whole team work better together — collaborating to aggregate, organize, analyze, and present your findings. Lumivero’s enterprise licensing options offer volume pricing for teams and organizations needing nine (9) or more licenses.

Enterprise licenses allow the flexibility to install Lumivero software and solutions on multiple computers (up to the maximum number of licenses that your site has purchased) with a centralized management solution.

Lumivero’s team-based solutions allow you to:

Stay up-to-date with free upgrades to the latest releases
Reduce IT costs with one platform deployed across your organization
Reassign licenses to different users as teams evolve
Centralize license and subscription management in one place
Streamline budget allocation, especially for smaller groups and consultancy firms
Enjoy a Dedicated Customer Success Manager and pro-rated rates for new users

Included with The DecisionTools Suite

The complete risk and decision analysis toolkit, including @RISK, PrecisionTree, TopRank, NeuralTools, StatTools, Evolver, RISKOptimizer, and ScheduleRiskAnalysis.

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