Project budget
The application considers a project with its various cost elements combined with risks entailing extra cost and calculates, using Monte Carlo simulation, the expected cost for a each confidence level.
PRODUCT INFO
The application uses Monte Carlo simulation to calculate a project's budget with certain confidence level. The project is decomposed in smaller tasks. It is assumed that for each such task the triangular cost probability distribution is known and its parameters are hence entered. However no reason to panic, triangular distribution is the mathematical expression of the most simplistic answer to the question how much something is going to cost: it can't cost less than a, it can't cost more than b and most of the time costs c.