Project Scenarios-What if Analysis

By -

Project conception and monitoring involve estimation risks. Estimates are uncertain. Expert judgement is used to quantify these. 
However hard we plan, there would always be some random variations. Let us explore the “what if” in the forecast group at data tab.  Scenario manager here is helpful in creating various project (probable) outcomes.  
This concept is best understood using an example. Click here to download the workbook.
You need to solve it to get a grip over it.
Do the followings.
  1. Use “Goal seek” to create the various break-even quantities
  2. Use “data table” to vary two variables at a time
  3. Create a “Scenario Summary” with most likely, Optimistic and Pessimistic quantities.
  4.   Run Monte Carlo simulation.

These tricks allow great possibilities to a problem solver. Your comments to simplify and further explore it are welcome.



Comments

Post a Comment

Popular posts from this blog

Application for Making Parabolic Camber Board

By -
This Excel Application Calculates the Points for making a parabolic camber Board and draws a chart for the half road section profile. You are required to enter the road width and the % slope. The parabolic shape is given so that the profile is flat at the middle and steeper towards the edges, which is preferred by the fast moving vehicles as they have to frequently cross the crown line during overtaking operations.  on a two lane highway. Download Application here.
Read more

Indigenous Engineering Solutions in Construction, Green Buildings and Sustainability

By -
Image
Historically, Governments have been deriving the construction Industry. In India CPWD a premier construction agency, also performs a regulatory function in setting the pace and programmes for the building industry 1 . As a part of Azadi Ka Amrit Mahotsava, a National Conference on "Indigenous Engineering Solutions in Construction of a self-Reliant India" was organised by the National CPWD Academy. Compendium of conference papers is now available on the National CPWD Academy's website.   
Read more

Excel Basics for Construction Professionals

By -
The following blog and attachments are on an Excel Workbook that I use for my introductory classroom sessions on Excel for Construction Professionals. In a time when social distancing is prescribed, it would be better if the tool makes one learn on its own. The present one still requires a class supplementation, and I need your perspective on making it more useful.
Read more