Describe the Monte Carlo simulation to estimate the possible outcomes of uncertain events and risks

The program evaluation and review technique (PERT) is used widely in project decisions. Similarly, a Monte Carlo simulation is one approach to dealing with uncertainty in a decision.

Use your course materials to write a paper that provides a detailed explanation using the following to guide you:

Explain the PERT method and how it can be used in project analysis.
Describe the Monte Carlo simulation to estimate the possible outcomes of uncertain events and risks (support your thoughts through research).
Provide an example of how you would use the Monte Carlo simulation in a decision-making process.

Solved by an expert writer

Rated Helpful

Answered by Best writer

Looking for a similar assignment? Let Us write for you! We offer custom paper writing services Order Now.

REVIEWS


“ This is exactly what I needed and the confidence that I am heading in the right direction to finish the assignment. Thank you so much.”

Joanna David.


"Great job, completed quicker than expected. Thank you very much!"

Harrison James.


"Very efficient definitely recommend this site for help getting your assignments to help"

Hannah Seven