Simulation is a technique that is used to evaluate and improve project plans and schedules, as well as to find risks and unknowns that could affect how the project turns out.
Project managers can use simulation software to model different scenarios and test how different variables affect project schedules and budgets. Simulations can be used to figure out the effects of things like delays, lack of resources, or changes in the project’s scope. They can also be used to find critical paths and possible bottlenecks in the project schedule.
Simulation can also be used to evaluate and compare different project management strategies or techniques, such as agile vs. traditional project management or different ways to divide up resources or handle risk.
The results of a simulation can be used to find potential problems early on in the planning process and to improve project plans and resource allocation to make it more likely that the project will be successful.
By simulating different scenarios and analyzing possible outcomes, project managers can make better decisions, lower project risk, and make it more likely that projects will be finished on time and on budget.
Usage
Used in project planning especially for schedule management
