WhatIf Scenario Analysis

What-if scenario analysis uses different sets of activity assumptions to produce multiple project durations. For example, what would happen if a major deliverable was delayed or the weather prevents you from completing a deliverable on time? What-if analysis weighs these questions and their assumptions and determines the feasibility of the project schedule under these conditions. Simulation techniques such as Monte Carlo analysis use a range of probable activity durations for each activity, and those ranges are then used to calculate a range of probable duration results for the project itself. Monte Carlo runs the possible activity durations and schedule projections many, many times to come up with the schedule projections and their probability, critical path duration estimates, and float time.

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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