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dc.contributor.authorWyrozębski, Paweł
dc.contributor.authorWyrozębska, Agnieszka
dc.identifier.citationWyrozebski P., Wyrozębska A., Benefits of Monte Carlo simulation as the extension to the Programe Evaluation and Review Technique [w] Proceedings in Electronic International Interdisciplinary Conference, red. Ing. Michal Mokryš; Ing. Štefan Badura, Ph.D.; Ing. Anton Lieskovský, Ph.D., Publishing Institution of the University of Zilina 2013en
dc.description.abstractGiven the complexity and innovation of projects, project managers are increasingly forced to take into account the aspect of risk and uncertainty in project planning. The aim of the article is to compare two project management best planning practices: the Programe Evaluation and Review Technique and Monte Carlo simulation, as well as to present benefits of employment Monte Carlo simulation as the extension to the Programe Evaluation and Review Technique. The research methodology included literature review of strengths and weaknesses of two methods and the analysis of PERT and Monte Carlo simulation results for estimating the budget for the construction project presented in a case study. Automated Monte Carlo simulation was modeled and performed in MS Excel with additional Monte Carlo add-on “@Risk for Excel”. Key findings of the comparative study show better precision and comprehensiveness of Monte Carlo simulation in contrast to ease of use of PERT method. PERT provides better project estimates when used alongside with Monte Carlo simulation.en
dc.publisherPublishing Institution of the University of Zilinaen
dc.rightsDozwolony użytek
dc.subjectMonte Carloen
dc.subjectrisk managementen
dc.subjectproject managementen
dc.titleBenefits of Monte Carlo simulation as the extension to the Programe Evaluation and Review Techniqueen
dc.contributor.organizationSzkoła Główna Handlowa w Warszawieen
dc.contributor.organizationWarszawski Uniwersytet Medycznyen
dc.description.epersonPaweł Wyrozębski

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