Modeling and simulation:
Modeling and simulation (M&S) is getting information about how something will behave without actually testing it in real life. For instance, if we wanted to design a race car, but weren't sure what type of spoiler would improve traction the most, we would be able to use a computer simulation of the car to estimate the effect of different spoiler shapes on the coefficient of friction in a turn. We're getting useful insights about different decisions we could make for the car without actually building the car.
More generally, M&S is using models, including emulators, prototypes and simulators, either statically or over time, to develop data as a basis for making managerial or technical decisions. The terms "modeling" and "simulation" are often used interchangeably.[1]
A project simulation uses a model that translates the uncertainties specified at a detailed level of the project into their potential impact on project objectives. Simulations are typically performed using the Monte Carlo technique. In a simulation, the project model is computed many times (iterated), with the input values randomized from a probability distribution function (e.g., cost of project elements or duration of schedule activities) chosen for each iteration from the probability distributions of each variable. A probability distribution (e.g., total cost or completion date) is calculated.
For a cost risk analysis, a simulation can use the traditional project WBS or a cost breakdown structure as its model. For a schedule risk analysis, the precedence diagramming method (PDM) schedule is used.
Modeling and simulation (M&S) is getting information about how something will behave without actually testing it in real life. For instance, if we wanted to design a race car, but weren't sure what type of spoiler would improve traction the most, we would be able to use a computer simulation of the car to estimate the effect of different spoiler shapes on the coefficient of friction in a turn. We're getting useful insights about different decisions we could make for the car without actually building the car.
More generally, M&S is using models, including emulators, prototypes and simulators, either statically or over time, to develop data as a basis for making managerial or technical decisions. The terms "modeling" and "simulation" are often used interchangeably.[1]
A project simulation uses a model that translates the uncertainties specified at a detailed level of the project into their potential impact on project objectives. Simulations are typically performed using the Monte Carlo technique. In a simulation, the project model is computed many times (iterated), with the input values randomized from a probability distribution function (e.g., cost of project elements or duration of schedule activities) chosen for each iteration from the probability distributions of each variable. A probability distribution (e.g., total cost or completion date) is calculated.
For a cost risk analysis, a simulation can use the traditional project WBS or a cost breakdown structure as its model. For a schedule risk analysis, the precedence diagramming method (PDM) schedule is used.
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