Preparations for Probabilistic Analysis
- What are the main goals of probabilistic analyses?
- What is the method statement in probabilistic analysis?
- What is the high-level workflow in probabilistic analysis?
- What factors influence the duration of probabilistic analysis?
- What is the typical specification of inputs to probabilistic models?
- Why must correlations never be forgotten?
- “Probabilistic analysis? What do you mean by that?”
THIS CHAPTER IS DEVOTED to the steps in getting prepared for probabilistic risk analysis. The typical workflows of cost and schedule risk analysis will be outlined. Specifications of required input data will be introduced.
TYPICAL WORKFLOWS OF PROBABILISTIC COST AND SCHEDULE ANALYSES
Four major goals of probabilistic cost and schedule analyses are: