Monte Carlo

In this podcast, Ricardo talks about the methods of forecasting project schedule and cost. He comments that there are four methods of predicting future project performance: time series methods, causal/econometrics methods, judgmental methods and other methods. Ricardo explains and gives examples of each method.

The aim of this article is to present a proposal of interconnection between models and probabilistic simulations of project as possible ways to determine EAC (Final cost) through Earned Value Analysis.

In this podcast, Ricardo approaches the main concepts of the Monte Carlo Simulation, the most famous mathematical simulation applied to calculate the probability of cost and schedule objectives. This podcast was recorded only in Brazilian Portuguese. The link below is for the Brazilian Portuguese version.