Project Costing with Monte Carlo Simulated Probabilities
Using @RISK to quantify project contingency considering price and quantity variations and risk events.
Project Costing with Monte Carlo Simulated Probabilities udemy course
Using @RISK to quantify project contingency considering price and quantity variations and risk events.
We present here an integrated business case for calculating a simplified project cost estimation. An integrated case for calculating a simplified project cost and its probabilistic contingency reserve estimation. Quantification of price and quantity risk as well as event risks. The objective of presenting this example is to demonstrate a number of basic and intermediate tools from @RISK that are relevant to current practices used in the world of project management. The goal is to show how @RISK tools can be used to represent quantitative – not qualitative – risk analysis.
