Friday 9 May 2014

Quantitative Risk Analysis

After reviewing the Monte Carlo Analysis method presented in Chapter 15 of the Hillson and Simon text, justify why a project manager would request the use of this methodology for a large, complex project. Include an example to support your response. • When an organization cannot justify the use of a method such as Monte Carlo, recommend an alternative tool that would allow the project manager to make informed decisions. Provide a rationale for your recommendation.

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