Project Management P50/P80/P90 Risk Analysis 📚 PERT Distribution, Monte Carlo Simulation, Six Sigma
Quantitative Risk Analysis can evaluate 3 point estimate of project activity time and cost using techniques including PERT & Monte Carlo Simulation! This step-by-step tutorial by Dr. Mehrdad Arashpour animates the Program Evaluation & Review Technique or PERT. By watching this video, you will learn how to:
• Analyze 3 Point Estimation of Project Activity Times,
• Implement Program Evaluation & Review Technique,
• Find Confidence Intervals in Probability-Based Project Estimates,
• Differentiate PERT, Monte Carlo Simulation & Six Sigma
❎ Excel workbook to follow along: https://forms.gle/wmMVvpUPz7m6X8pt9
⌛ TIMESTAMPS
0:00 - Introduction to Quantitative Risk Analysis in Project Management
0:11 - Excel’s Dynamic Template for Project Scheduling Risk Analysis
0:32 - Step 1 (Analyzing 3 Point Estimation of Project Activity Durations)
3:29 - Step 2 (Quantitative Risk Analysis using Program Evaluation & Review Technique)
5:42 - Step 3 (Finding Project Completion Confidence like P50, P70, P80 & P90)
7:36 - Step 4 (Comparing PERT, Monte Carlo Simulation & Six Sigma)
13:50 - Excel for Engineering Management Risk
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