Moment of Methods vs. Monte Carlo

 

Instructions:

  • Three-point estimates (moment of methods) and Monte Carlo simulation both can be used for determining project risk contingency reserves with varying levels of accuracy.
    • Write a page to compare and contrast the moment of methods approach with Monte Carlo simulation and explain how each might be used on projects of varying size and scope.

Please be sure to validate your opinions and ideas with citations and references in APA format.

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