Monte Carlo Simulation
Monte Carlo: A statistical method using random numbers
- By applying it to static PERT scheduling models (e.g. several hundred times by computer) it is supposed to predict how the real system might behave
- The random numbers are applied to each activity in the network
- Revealing the probability of an activity being on any particular 'critical path'
- In a schedule with many activities, it provides good insight into which activities should receive closer management attention
- It is popular with scheduling consultants!