Monte Carlo Simulation Demystified

This webinar will explain the huge benefits you will achieve in using a Monte Carlo Simulation to analyze your project risk. We’ll cover the following in this webinar: >Basics of what a Monte Carlo Simulation is and how it is setup on a project. >Demonstration of how the integrated schedule-cost risk of a project compares to the deterministic values of cost and schedule. Once seeing this you will probably never go back to developing a schedule and cost estimate with purely deterministic values again. >Demonstration of how the Sensitivity (Tornado) Analysis, calculated with the Monte Carlo, show us which activities in the schedule have the largest potential impact on our schedule and cost. This allows us to focus on the biggest bang for the buck. >Demonstration of how the Monte Carlo shows us which non-critical activities are likely to become critical as we proceed through the schedule. This understanding is critical to staying on schedule.