Mini-project
Construction, Infrastructure & Smart Cities
Project schedule and cost risk with Monte Carlo
Predict the chance that a project finishes on time and on budget, and find the activities that matter most.
The brief
A project plan gives one date, but every task can slip. Build a network of tasks with optimistic, likely and pessimistic durations and costs, run thousands of simulations, and report the chance of meeting the deadline and the tasks that most often sit on the critical path. Good looks like: a correct critical path method, a distribution of finish dates and costs, and a risk register based on the results.
What you will build
- Define a project with 25 tasks and dependencies
- Estimate three-point durations and costs
- Calculate the critical path
- Run 10,000 Monte Carlo simulations
- Find tasks with the highest schedule impact
- Recommend buffers and risk responses
Free, open data to build it with
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