Monte Carlo Simulation Outcomes

At the outcome task of the simulation, the usual simulation products are graphical, tabular, and often presented as reports. Figure 7-9 shows typical data, including a "critical path and near-critical analysis" on paths that might be in the example network. The usual analysis products from a Monte Carlo simulation might include:

■ A probability density distribution, with absolute values of outcome value and a vertical dimension scaled to meet the requirement that the sum of all probabilities equals 1

■ A cumulative probability distribution, the so-called "S" curve, again scaled from 0 to 1 or 0 to 100% on the vertical axis and the value outcomes on the horizontal axis

■ Other statistical parameters, such as mean and standard deviation i im Z3 1 )9

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Figure 7-9: Monte Carlo Outcomes.

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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