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Monte Carlo Risk Analysis

6 replies [Last post]
Thu, 2005-05-26 04:36
Hermie LaO
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Correction! This is a methodology NOT a product!!!

Open has this built in as a scheduling functionality.
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Sat, 2007-10-27 10:24
#1
Mehdi Rashidi Ala...
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Open Plan was capable of quick Monte Carlo simulations, and gave detailed information regarding our activities’ early and late dates
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Thu, 2006-08-31 03:24
#2
ashraf alawady
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Hi
you can get the neccesary information by reading ’PMBOK’book (Project Management Body Of Knowledge)or visit the website of the project management institute at www.pmi.org.
Good Luck
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Sun, 2005-07-24 08:21
#3
Sai Prasad
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Thank Benard
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Sun, 2005-07-24 07:39
#4
Bernard Ertl
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You can read about Monte Carlo Risk Analysis in Chris Hendrickson’s on-line book Project Management for Construction: Scheduling with Uncertain Durations

There are several discussions in the Schedule Risk and Schedule Risk Analysis forum regarding Monte Carlo.

Bernard Ertl
eTaskMaker Project Planning Software
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Sat, 2005-07-23 23:49
#5
Hermie LaO
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Hi Sai,

Basically, Monte Carlo Analysis allows you to enter Optemistic/Most Likely/Pessimistic durations on activities. You then identify the task you wish to evaluate(ie project/milestone completion activity).

You then run iterations where the system computes different combinations using programme logic and duration combinations.

End result would be a % likely completion of the identified milestones and completion dates.

Regards,

Hermi
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Sat, 2005-07-23 22:47
#6
Sai Prasad
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Hi
Please let me know what is this Monte Carlo Risk Anlysis & where do I get to learn this methodology
regards
sAI
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