Creating and Simulating

Figure 4.1 shows a simple project timing and schedule calculation. The example shows 5 tasks with subsections or subtasks, with some assumptions of minimum, most likely, and maximum duration measured in weeks. There are also probabilities that a delay or rework is required. The highlighted cells are simulation assumptions and the final date is set as a forecast cell in Risk Simulator. For details on running simulations using Risk Simulator, please refer to Dr. Johnathan Mun’s Modeling Risk, Third Edition (Thompson–Shore, 2016) or Readings in Certified Quantitative Risk Management (IIPER Press, 2016).

Figure 4.1: Schedule Model with Simulation

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