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TOPIC: Isn't a Monte Carlo a representation of uncertainty as well as a simulation?

Isn't a Monte Carlo a representation of uncertainty as well as a simulation? 2 months 1 week ago #25201

  • Sharon S
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Isn't a Monte Carlo a representation of uncertainty as well as a simulation?


Posted in the wrong forum.
Last edit: by Sharon S.

Isn't a Monte Carlo a representation of uncertainty as well as a simulation? 2 months 1 week ago #25216

  • Harry Elston
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Sharon,

Monte Carlo simulations or experiments are used for three general categories: System optimization, numerical integration and probability. For PMI's purposes and PMP Exam prep, they are used to create a probability distribution of a desired outcome. In that instance, the area around the desired outcome represents the uncertainty of the simulation. Do not get hung up on it, stick with the definition and explanation in the PMBOK Guide.

Harry
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Harry J. Elston, Ph.D., CIH, PMP
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