Handling Project Schedule Uncertainty with a Monte Carlo Simulation

Learn how to use the Monte Carlo Simulation template by Vertex42 in connection with a Gantt Chart spreadsheet to help estimate when a project may be completed based on uncertainty in task completion times. Purchase the template here: www.vertex42.com/ExcelTemplat...
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[@Goforitmanager]

What a great explanation of a real world application. Well done.

[@vertex42]

In this example, the output is a discrete date. It's important to be careful about using statistics designed for continuous variables, but the histogram of the results is the main thing we were interested in. Note that the gaps in the histogram are weekends.

[@stinger2119]

Vertex42 You guys are amazing, short and precise with great explanation - sexy voice tho

[@perfectsplit5515]

Could this have been used in the:
-1986 Space Shuttle Challenger Launch Project?
-2010 British Petroleum Deep Water Horizon oil rig drilling project?
-B2 Stealth Bomber development project?
-F35 Joint Strike Fighter development project?

[@mattdesanto9415]

Can this be used on a P6 schedule with >500 activities?

[@josephwright3168]

Who has a copy of that scheduling spreadsheet and/or the Monte Carlo spreadsheet?