Using a Project Simulation

Project simulations allow the project team to play "what-if" games without affecting any areas of production. The Monte Carlo analysis (sometimes called the Monte Carlo technique) is the most common simulation. This technique got its name from Monte Carlo, Monaco (world-renowned for its slot machines, roulette wheels, and other games of pure chance). The Monte Carlo technique, typically completed using a computer software program, completely simulates a project, using values for all possible variables, to predict the most likely model.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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