you can get the neccesary information by reading PMBOKbook (Project Management Body Of Knowledge)or visit the website of the project management institute at www.pmi.org.
You can read about Monte Carlo Risk Analysis in Chris Hendricksons on-line book Project Management for Construction: Scheduling with Uncertain Durations
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.
Member for
22 years 3 monthsRE: Monte Carlo Risk Analysis
Open Plan was capable of quick Monte Carlo simulations, and gave detailed information regarding our activities early and late dates
Member for
19 years 2 monthsRE: Monte Carlo Risk Analysis
Hi
you can get the neccesary information by reading PMBOKbook (Project Management Body Of Knowledge)or visit the website of the project management institute at www.pmi.org.
Good Luck
Member for
20 years 6 monthsRE: Monte Carlo Risk Analysis
Thank Benard
Member for
22 years 11 monthsRE: Monte Carlo Risk Analysis
You can read about Monte Carlo Risk Analysis in Chris Hendricksons 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
Member for
20 years 9 monthsRE: Monte Carlo Risk Analysis
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
Member for
20 years 6 monthsRE: Monte Carlo Risk Analysis
Hi
Please let me know what is this Monte Carlo Risk Anlysis & where do I get to learn this methodology
regards
sAI