Modeling Techniques

Modeling Techniques is used to estimate and or predict the future schedule by considering different possibilities. Examples of Modeling Techniques are What-If Scenario Analysis and Simulation.

What-If Scenario Analysis is used to evaluate the different scenarios to see the effect on project objectives like schedule. For example what happens if a particular resource is not available, what happens if a vendor is not going to deliver the raw materials on time, what happens if a particular work package postponed to later date… The outcome can be used to assess and take future action like parking the contingency.

Simulation is used to get the probability distribution using different techniques like PERT. The most widely used tool is called Monte Carlo analysis.

Modeling Techniques is used under the processes Develop Schedule process, Control Schedule and Perform Quantitative Risk Analysis.