simulim

simulim

A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulations use computer models and estimates of risk, usually expressed as a probability distribution of possible costs or durations at a detailed work level, and are typically performed using the Monte Carlo analysis.

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Part of Speech: noun
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Industry/Domain: Business services
Category: Project management
Company: WSDOT
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Related terms

simulim robot

Robots; Assembly

To imitate and observe processes through a model of the system.

kontroll i ndryshimit

Business services; Project management

(1) Identifying, documenting, approving, or rejecting, and controlling changes to the project baselines. (2) The process of accepting or rejecting changes to the project’s ...

objektiv

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Something toward which work is to be directed; a strategic position to be attained or purpose to be achieved; a result to be obtained; a product to be produced; or a service to be ...

rezultat

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An output from performing project management processes and activities. Results include outcomes (e.g., integrated systems, revised process, restructured organization, tests, ...

risk

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An uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives. See also risk category and risk breakdown structure.

raporte mbi performancën

Business services; Project management

Documents and presentations that provide organized and summarized work performance information, earned value management parameters and calculations, and analyses of project work ...

pranim i riskut

Business services; Project management

A risk response planning technique that indicates that the project team has decided not to change the project management plan to deal with a risk, or is unable to identify any ...