A review of analytical models, approaches and decision support tools in project monitoring and control

Risk assessment for environmental projects consists of studying the probability that projects will achieve a satisfactory performance for threshold - values of internal rate of return (IRR) or net present value (NPV). Risk analysis identifies and estimates risks and their level as well as measures considered to mitigate their negative impact. Quantitative risk analysis is performed for estimating the risk of the project by numeric resources. Monte Carlo simulation method can be widely applied in this area due to the advantages recognized both by practitioners and the academic community. By using this method, the distribution of all possible outcomes of an event is generated by analyzing a model several times, each time using random input values selected from the probability distributions considered normal of the components that comprise the model.

Monte Carlo Method in Risk Analysis for Investment Projects

https://nottingham-repository.worktribe.com/preview/742112/2015_OtiAH_TizaniW_BIM%20extension_ADVEI%2029_AsSubmitted.pdf

BIM extension for the sustainability appraisal of conceptual steel design

Reasonable concession period for build-operate-transfer road projects in the Philippines

Measuring risks and vulnerability of tourism to the COVID-19 crisis in the context of extreme uncertainty: The case of the Balearic Islands

Monte Carlo simulation is a useful technique for modeling and analyzing real-world systems and situations This paper is a conceptual paper that explores the applications of Monte Carlo simulation for managing project risks and uncertainties The benefits of Monte Carlo simulation are using quantified data, allowing project managers to better justify and communicate their arguments when senior management is pushing for unrealistic project expectations Proper risk management education, training, and advancements in computing technology combined with Monte Carlo simulation software allow project managers to implement the method easily In the field of project management, Monte Carlo simulation can quantify the effects of risk and uncertainty in project schedules and budgets, giving the project manager a statistical indicator of project performance such as target project completion date and budget

https://link.springer.com/content/pdf/10.1057%2Fpalgrave.rm.8250017.pdf

Exploring Monte Carlo Simulation Applications for Project Management

Monte Carlo simulation is a useful technique for modeling and analyzing real-world systems and situations. This paper is a conceptual paper that explores the applications of Monte Carlo simulation for managing project risks and uncertainties. The benefits of Monte Carlo simulation are using quantified data, allowing project managers to better justify and communicate their arguments when senior management is pushing for unrealistic project expectations. Proper risk management education, training, and advancements in computing technology combined with Monte Carlo simulation software allow project managers to implement the method easily. In the field of project management, Monte Carlo simulation can quantify the effects of risk and uncertainty in project schedules and budgets, giving the project manager a statistical indicator of project performance such as target project completion date and budget.

https://www.jstor.org/stable/pdfplus/4143844.pdf

Exploring monte carlo simulation applications for project management

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Exploring Monte Carlo Simulation Applications for Project Management

Exploring monte carlo simulation applications for project management