Do you need to make a difficult decision about some uncertain future outcome? Maybe you need to estimate a project cost or schedule, or create a forecast for when your agile-developed software product can be delivered to customers. In this course, Monte Carlo Simulation Fundamentals, you’ll learn how to model these and other uncertainties using a Monte Carlo simulation model in Microsoft Excel. First, you’ll learn why you’ll want to use Monte Carlo simulation to solve estimation problems. Then, you’ll learn how to create a Monte Carlo simulation from scratch, and how to use pre-built Monte Carlo simulation models. Finally, you’ll discover some more complicated problems that commercial Monte Carlo simulation products can solve. By the end of this course, you’ll know what a Monte Carlo simulation is, why it’s used, and how to create your own Monte Carlo simulation using the built-in functions inside Microsoft Excel.
Author Name: William Davis
Author Description:
William W. Davis works in the IT industry promoting personal and organizational agility and sharing innovative tools/techniques with fellow agilists, project managers, developers, functional managers, and organizational leaders. William has 30 years experience working in IT as a software developer and technical project manager for numerous IT projects. More recently, though, William is a Scrum Master and an organizational agilist — creating/delivering customized agile/Scrum training, offering a… more

Table of Contents

• Course Overview
  1min
• Introduction to Monte Carlo Simulation
  23mins
• Understand Commonly Used Probability Distributions
  40mins
• Monte Carlo Simulation Foundations
  30mins
• Build Your First Monte Carlo Simulation Model
  18mins
• Add a Histogram and Statistics to Your Model
  35mins
• Using a Native Excel Monte Carlo Simulation Model
  28mins
• Build More Complex Monte Carlo Simulation Models
  30mins