Lev Virine

Project Decisions: The Art and Science

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  • herawan19has quoted8 years ago
    2. What is the chanc
  • herawan19has quoted8 years ago
    that the project will be completed on time and within budget?
  • herawan19has quoted8 years ago
    1. How much would the project cost and how long would it take, given all the risks and uncertainties associated with it?
  • herawan19has quoted8 years ago
    Monte Carlo analysis can help to answer these and other questions.
  • herawan19has quoted8 years ago
    Monte Carlo analysis is a straightforward approach for dealing with complex sets of project uncertainties
  • herawan19has quoted8 years ago
    The value of new im
  • herawan19has quoted8 years ago
    imperfect information can be analyzed using the Bayes theorem, which is a formula that revises probabilities based on new information.
  • herawan19has quoted8 years ago
    Decision theory offers methods to incorporate imperfect information into the analysis and calculate an expected value for i
  • herawan19has quoted8 years ago
    the Bayes theorem is a straightforward concept.
  • herawan19has quoted8 years ago
    The formula itself is really very simple;
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