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	<title>Comments on: Project Risk Management and the application of Monte Carlo Simulation</title>
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	<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=project-risk-management-and-the-application-of-monte-carlo-simulation</link>
	<description>Collection of thoughts about project management and other important things</description>
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		<title>By: leonharari</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-489</link>
		<dc:creator>leonharari</dc:creator>
		<pubDate>Thu, 29 Jul 2010 02:48:00 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-489</guid>
		<description>Hi Shim,

Thanks for providing the analysis of my Project Plan. As a bit of a MS Project Guru, it was interesting to get an understanding of the benefits of Monte Carlo against a project plan I was familiar with. Wow, now I am a believer of the power of MonteCarlo for Project Analysts!

I see it&#039;s main strengths for complex plans are:
~ Confirming your plan&#039;s overall logic is correct and that there are no errors in dependencies of tasks (these errors will be exacebated through Monte Carlo)
~ Provides an excellent way of identifying the true crtical path. The one that was shown, was not what I expected
~Can identify weaknesses or gaps in the project plan.

While the report is great for us Program/Project Managers, is there a way to deliver a more user friendly version that can be used for senior stakeholders, who do not understand PM concepts? One that can outline the risks in a more visual form. I am thinking of using this as a tool to obtain buy in for change of scope (ie more resources, extended timeframe or more $). What are your thoughts?

Regards

Leon</description>
		<content:encoded><![CDATA[<p>Hi Shim,</p>
<p>Thanks for providing the analysis of my Project Plan. As a bit of a MS Project Guru, it was interesting to get an understanding of the benefits of Monte Carlo against a project plan I was familiar with. Wow, now I am a believer of the power of MonteCarlo for Project Analysts!</p>
<p>I see it&#8217;s main strengths for complex plans are:<br />
~ Confirming your plan&#8217;s overall logic is correct and that there are no errors in dependencies of tasks (these errors will be exacebated through Monte Carlo)<br />
~ Provides an excellent way of identifying the true crtical path. The one that was shown, was not what I expected<br />
~Can identify weaknesses or gaps in the project plan.</p>
<p>While the report is great for us Program/Project Managers, is there a way to deliver a more user friendly version that can be used for senior stakeholders, who do not understand PM concepts? One that can outline the risks in a more visual form. I am thinking of using this as a tool to obtain buy in for change of scope (ie more resources, extended timeframe or more $). What are your thoughts?</p>
<p>Regards</p>
<p>Leon</p>
]]></content:encoded>
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	<item>
		<title>By: lmau</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-487</link>
		<dc:creator>lmau</dc:creator>
		<pubDate>Fri, 09 Jul 2010 11:24:25 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-487</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;Project Risk Management and the application of Monte Carlo Simulation http://goo.gl/jf7Z&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">Project Risk Management and the application of Monte Carlo Simulation <a target="_blank" href="http://goo.gl/jf7Z"  rel="nofollow">http://goo.gl/jf7Z</a></span></span></span></p>
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	</item>
	<item>
		<title>By: lmau</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-488</link>
		<dc:creator>lmau</dc:creator>
		<pubDate>Fri, 09 Jul 2010 11:23:38 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-488</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;Project Risk Management and the application of Monte Carlo Simulation - http://b2l.me/9n7wx&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">Project Risk Management and the application of Monte Carlo Simulation &#8211; <a target="_blank" href="http://b2l.me/9n7wx"  rel="nofollow">http://b2l.me/9n7wx</a></span></span></span></p>
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	<item>
		<title>By: Shim Marom</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-486</link>
		<dc:creator>Shim Marom</dc:creator>
		<pubDate>Thu, 08 Jul 2010 12:01:47 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-486</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;RT @crgpm: Reading: Project Risk Management and the application of Monte Carlo Simulation http://bit.ly/aCyeNx #pmot&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">RT @crgpm: Reading: Project Risk Management and the application of Monte Carlo Simulation <a target="_blank" href="http://bit.ly/aCyeNx"  rel="nofollow">http://bit.ly/aCyeNx</a> #pmot</span></span></span></p>
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	<item>
		<title>By: Chuck Graham</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-485</link>
		<dc:creator>Chuck Graham</dc:creator>
		<pubDate>Thu, 08 Jul 2010 11:44:13 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-485</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;Reading: Project Risk Management and the application of Monte Carlo Simulation http://bit.ly/aCyeNx #pmot&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">Reading: Project Risk Management and the application of Monte Carlo Simulation <a target="_blank" href="http://bit.ly/aCyeNx"  rel="nofollow">http://bit.ly/aCyeNx</a> #pmot</span></span></span></p>
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	<item>
		<title>By: Shim Marom</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-484</link>
		<dc:creator>Shim Marom</dc:creator>
		<pubDate>Thu, 08 Jul 2010 10:06:31 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-484</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;&quot;Project Risk Management and the application of Monte Carlo Simulation &#124; quantmleap&quot; ( http://bit.ly/bmieiN ) #pmot&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">&quot;Project Risk Management and the application of Monte Carlo Simulation | quantmleap&quot; ( <a target="_blank" href="http://bit.ly/bmieiN"  rel="nofollow">http://bit.ly/bmieiN</a> ) #pmot</span></span></span></p>
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	</item>
	<item>
		<title>By: Shim Marom</title>
		<link>http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/#comment-483</link>
		<dc:creator>Shim Marom</dc:creator>
		<pubDate>Thu, 08 Jul 2010 09:59:37 +0000</pubDate>
		<guid isPermaLink="false">http://quantmleap.com/blog/?p=1639#comment-483</guid>
		<description>&lt;span class=&quot;topsy_trackback_comment&quot;&gt;&lt;span class=&quot;topsy_twitter_username&quot;&gt;&lt;span class=&quot;topsy_trackback_content&quot;&gt;new quantmleap post: Project Risk Management and the application of Monte Carlo Simulation http://bit.ly/aiNUXs #pmot&lt;/span&gt;&lt;/span&gt;</description>
		<content:encoded><![CDATA[<p><span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">new quantmleap post: Project Risk Management and the application of Monte Carlo Simulation <a target="_blank" href="http://bit.ly/aiNUXs"  rel="nofollow">http://bit.ly/aiNUXs</a> #pmot</span></span></span></p>
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