A Purchasing Strategy Example Palisade’s PrecisionTree software allows you to analyze the probabilities of different outcomes, and their impacts, in sequential, multi-stage decisions. The decision trees in PrecisionTree show the probabilities of these outcomes...
The continuous uniform distribution represents a situation where all outcomes in a range between a minimum and maximum value are equally likely. From a theoretical perspective, this distribution is a key one in risk analysis; many Monte Carlo software algorithms use a...
Modeling from empirical data takes observed information and attempts to replicate that information in a set of calculations. There are a number of relationships to account for when incorporating those data in a model. These relationships include dependencies and/or...
Manage Uncertainty in Project Schedules Like Never Before with Monte Carlo Simulation Answer questions like “Will this project finish on time?” or “Will we be within budget?” using ScheduleRiskAnalysis (or SRA for short), a new module within the DecisionTools Suite...
