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SUMMARY:Chapter Meeting – March 2024: Monte Carlo Simulation Demystified
DESCRIPTION:(VIRTUAL MEETING) Monte Carlo Simulation Demystified&nbsp\;
 A
 genda
 5:30 - 6:00 PM&nbsp\; Chapter Rolling Slides / Join the meeting
 
 6:00 – 6:15 PM&nbsp\; Chapter Announcements
 6:15 - 7:00 PM Monte Carlo
  Simulation Demystified
 7:00 – 7:15 PM&nbsp\; Questions
 Abstract:
 
 Join us for this presentation by Bill Flanagan\, MBA\, PE\, PMI-RMP\, PMP 
 in which he will explain the&nbsp\; huge benefits you will achieve in usin
 g a Monte Carlo Simulation to analyze your project risk.&nbsp\; We’ll co
 ver the following:
 
 Basics of what a Monte Carlo Simulation is and how
  it is setup on a project.
 Demonstration of how the integrated schedule-
 cost risk of a project compares to the deterministic values of cost and sc
 hedule. Once seeing this you will probably never go back to developing a s
 chedule and cost estimate with purely deterministic values again.
 Demons
 tration of how the Sensitivity (Tornado) Analysis\, calculated with a Mont
 e Carlo\, shows us which activities in the schedule have the largest poten
 tial impact on our schedule and cost. This allows us to focus on the bigge
 st bang for the buck.
 Demonstration of how a Monte Carlo shows us which 
 non-critical activities are likely to become critical as we proceed throug
 h the schedule. This understanding is critical to staying on schedule.
 

 
 Presentation Objectives
 
 Demonstrate a Monte Carlo Analysis of a res
 ource loaded Critical Path Method Schedule.
 Demonstrate how a Tornado An
 alysis Identifies the schedule activities that impact total cost and sched
 ule duration the most.
 Demonstrate how the Monte Carlo can predict which
  non-critical path activities are likely to become critical.
 
DTSTART:20240321T213000Z
DTEND:20240322T000000Z
DTSTAMP:20260413T010930Z
ORGANIZER;CN=PMI North Carolina Chapter:MAILTO:bounce@ncpmi.org
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