November 2019
Intermediate to advanced
468 pages
13h 53m
English
book
Project Management Tools and Techniques, 2nd Edition
by Deborah Sater Carstens, Gary L. Richardson
Content preview from Project Management Tools and Techniques, 2nd Edition
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24 Simulation Modeling
Chapter Objectives
1. Understand the Monte Carlo technique
2. Demonstrate the Full Monte™ simulation
3. Explain and demonstrate Sensitivity analysis
4. Describe advanced theoretical simulation concepts
5. Describe Risk Path Analysis
Introduction
Chapter 23 described the classic mechanics for executing the PERT model as a statistical tool to measure and forecast project outcome with variable task times. This earlier view afforded an insight into how variable time task estimates can be manipulated into a project-level probabilistic range of schedule completion times. Since many folks do not wake up with a driving need or desire to become a statistician, it is a common attitude to shy away from using statistics and ...
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