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Smart Monte Carlo: Tricks for schedule risk analysis.

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Intaver Insititute
Intaver Insititute

Five simple tricks how to make Monte Carlo schedule risk analysis more accurate and efficient. For more information please visit www.intaver.com

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Smart Monte Carlo: Five simple tricks how to make Monte Carlo schedule risk analysis more accurate and efficient Intaver Institute Inc. 400, 7015, Macleod Trail, Calgary, AB, Canada Tel: +1 (403) 692-2252 www.intaver.com
1. Optimize the Schedule Eliminate Dangling activities Minimize Hard Constraints Schedule Diagnostics
2. Optimize the Simulation Parameters Convergence Monitoring Set Margin or Contingency using High Percentile output Instant Monte Carlo
3. Simplify Reporting Customize Chart and Diagrams Project Dashboards and Risk Score Indicators
4. Use Both Risk Events and Uncertainties Uncertainties defined by statistical distribution Risk events affecting tasks
5. Uncertainties in Resources and Work Assign Risks to resources Risks of increasing/reducing resource allocation

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Smart Monte Carlo: Tricks for schedule risk analysis.

  • 1. Smart Monte Carlo: Five simple tricks how to make Monte Carlo schedule risk analysis more accurate and efficient Intaver Institute Inc. 400, 7015, Macleod Trail, Calgary, AB, Canada Tel: +1 (403) 692-2252 www.intaver.com
  • 2. 1. Optimize the Schedule Eliminate Dangling activities Minimize Hard Constraints Schedule Diagnostics
  • 3. 2. Optimize the Simulation Parameters Convergence Monitoring Set Margin or Contingency using High Percentile output Instant Monte Carlo
  • 4. 3. Simplify Reporting Customize Chart and Diagrams Project Dashboards and Risk Score Indicators
  • 5. 4. Use Both Risk Events and Uncertainties Uncertainties defined by statistical distribution Risk events affecting tasks
  • 6. 5. Uncertainties in Resources and Work Assign Risks to resources Risks of increasing/reducing resource allocation