Course curriculum

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    1. 12.1 Overview of Monte Carlo Methods in Cost Estimating

    2. 12.2 Probabilistic Modelling and Risk Analysis Basics

    3. 12.3 Setting Up a Monte Carlo Simulation: Inputs and Distributions

    4. 12.4 Running Monte Carlo Simulations with Different Software Tools

    5. 12.5 Interpreting Simulation Results and Identifying Risk Profiles

    6. 12.6 Sensitivity Analysis and Its Role in Simulations

    7. 12.7 Advanced Techniques in Monte Carlo Simulations

    8. 12.8 Assignment: Conduct a Monte Carlo Simulation for a Project Estimate

About this course

  • 11 lessons
  • Time to complete - 24 hours