An extensive review of modeling approaches used to simulate vanadium redox flow battery (VRFB) performance is conducted in this study. Material development is reviewed, and opportunities for additional development identified. Various crossover mechanisms for the vanadium species are reviewed, and their effects on its state of charge and its state of health assessed. A stack design focusing on flow fields and an electrode design tailored to various flow fields are reviewed. An operational strategy that takes these parameters into account is reviewed for various operating envelopes, chosen based on end user preference in terms of minimizing capital cost or operation and maintenance cost. This work provides a framework for the design and operation of a VRFB for various grid services.