User-friendly program that helps you apply the Monte Carlo method for estimating a project’s time and import/export information from/to MCP file format
Monte Carlo Simulation. This Monte Carlo simulation tool provides a means to test long term expected portfolio growth and portfolio survival based on withdrawals, e.g., testing whether the portfolio can sustain the planned withdrawals required for retirement or by an endowment fund. Monte Carlo Simulation of Sample Percentage with 10000 Repetitions In this book, we use Microsoft Excel to simulate chance processes. This workbook introduces Monte Carlo Simulation with a simple example. Typically, we use Excel to draw a sample, then compute a sample statistic, e.g., the sample average.
Monte Carlo Simulations is a lightweight software application whose purpose is to help you exploit the Monte Carlo simulation method and make use of a complex algorithm based on PERT (Program Evaluation and Review Technique) in order to estimate the time needed for completing a given project.
This open-source program is Java-based so you need to previously install the working environment on your computer before running the utility.
Portable running mode
You can open the tool by simply running the EXE file. Uninstalling it means deleting the files that you have grabbed from the Internet.
The app can be opened without administrative privileges, as it doesn’t store configuration settings in your system and add Windows registry entries. Additionally, you may copy it on any USB flash drive or other devices and carry it with you.
User-friendly layout and importing options
Monte Carlo Simulations reveals a clean and simple layout that embeds all of its features into a single GUI. You can opt for manually entering the required information for using the Monte Carlo method or import data from MCP file format.
Monte Carlo simulations
As soon as you upload information from an MCP file, the application automatically fills in several fields, such as number of repetitions of the simulation, number of current activities, and an activity chart that includes details about the description, precedence, distributions, parameters and critical path node.
You can easily alter the displayed data and check out the results of the computation, more precisely maximum total duration (in days), standard deviation (in days) and spent time (in seconds). The edited file may be exported to MCP file format.
Last but not least, you are allowed to add a custom number of activities, remove them and reset all fields with a single click.
Bottom line
To sum it up, Monte Carlo Simulations delivers a straightforward software solution for helping you apply the Monte Carlo method for estimating a project’s time, and is suitable for beginners and professionals alike.
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Monte Carlo Simulations was reviewed by Ana Marculescu4.0/5
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