Schedule Risk with PERT & Monte Carlo Analysis
Managing schedule risk is very critical to the project success. There are many uncertainties in the project execution that will affect schedule includes contract terms, changes in design,vendor promise, land release, weather conditions, workers quality, field changes, and performance testing. Schedule risk analysis with PERT & Monte Carlo will cover such kind of project uncertainty into quantitative risk analysis which is very important to project management to anticipate and mitigate risks earlier. Please have a look the following video,
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