Hello everyone! Here is this week's free PMP® exam sample question from the PM Exam Simulator.
To calculate the total project cost, you use a technique that uses input values selected at random from probability distribution of possible cost. Which of the following options best describes this method?
A. Automated Schedule Development
B. Monte Carlo Analysis
C. Schedule Risk Analysis
D. e-Pert
HINT: This is a simulation technique.
All our questions are updated to the latest
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) standard. Stop by at
www.pm-prepcast.com/freesimulator
and try the PM Exam Simulator free for 7 days. We also offer 110 free questions at
www.free-pm-exam-questions.com
. We are a trusted and experienced education provider.
Answer and Explanation:
The correct answer is B.
Monte Carlo analysis is a simulation technique. It uses computer models and estimates of risk usually expressed as a probability distribution of possible costs or durations at a detailed work level.