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Meaning of monte carlo simulation

 

 

 

Monte Carlo Simulation

 

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Business project management glossary

 

Meaning of term monte carlo simulation :

 

The technique used by project management applications to estimate the likely range of outcomes from a complex random process by simulating the process a large number of times.

 

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Source : http://files.perevedem.ru/Glossaries/Project%20management/big-group%20(Business%20project%20management%20glossary).doc

 

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Monte Carlo Simulation

 

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Meaning of term monte carlo simulation

 

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