Monte Carlo Analysis 3

Can you just make your own?

tonycatterall,

You may wish to visit the thread Monte Carlo Simulation (thread768-55453) from the forum:
Project & Configuration Management > Project & Configuration Management > -Engineering Project Management Forum (forum768)



Best regards,

Matthew Ian Loew

Please see FAQ731-376 for tips on how to make the best use of Eng-Tips Fora.

There are two products that I know of, both Excel add-ins: @Risk and Crystal Ball. Never had the occasion to actually use either of them, but have seen demos.

Biber Thermal Design

I have used the Monte Carlo method, but not in risk analysis.
If all you want to do is to generate a set of numbers for a variable with a certain
distribution for which you set the mean and the standard deviation, then
select a column of length N, then pick Data Analysis from the Tools menu,
then the Random Number Generator, OK , then fill in the nnumber of variables
=1 for one column, then N for the number of random numbers and type
Normal for distribution ( other options exist , I just like to specify the Sigma
and Mean), and indicate where you want the generated data to be put and Voila!
Hope this helps.

A relatively inexpensive Excel add-in for Monte Carlo analysis can be obtained at:

@Risk ANalysis from Palisade tool is a good pakage running MCS that can be add in Excel and some programming software.