HOUSTON--()--Users of Microsoft Project® 2007 and 2010 can now analyze the likely effects of uncertainty on the timely completion of their projects thanks to Full Monte™ cost and schedule risk analysis software from Barbecana, now available for a free 30-day trial or purchase at Barbecana.com.
“The only sure thing about the results of a deterministic approach to scheduling is that they will be proven wrong”
While Microsoft Project and other project management systems give users single-point estimates of when projects will be complete and how much they will cost, these deterministic estimates can be misleading.
“The only sure thing about the results of a deterministic approach to scheduling is that they will be proven wrong,” says Tony Welsh, president of Barbecana and developer of Full Monte. “The quantitative assessment of risk is a vital part of project planning, and with 2.0 we have added a lot of new functionality.”
Full Monte addresses cost and schedule risk analysis using Monte Carlo simulation, providing a much more realistic assessment of likely project outcomes. Fast and easy to use, Full Monte’s features include support for five families of probability distribution (normal, lognormal, uniform, beta, and triangular), correlations between task durations, and branching based upon dates or chance. Output includes expected values, standard deviations, percentile points, histograms, and S-curves of early and late dates, slack values, and cost for each task and for the project as a whole. Data can be migrated automatically from Risk+®.
Some of the new features include unlimited correlations between task durations, visual feedback on entered distributions and correlations at the time of data entry, export of reports to csv format, and sophisticated new features for sensitivity analysis. Barbecana has also released Schedule Inspector (schedule validation software), which is included free with Full Monte 2.0 for a limited time only.
Full Monte is available at Barbecana.com for $795, or visit the website to download a free 30-day trial.
Based in Houston, Texas, Barbecana was founded by Tony Welsh, previously a co-founder of Welcom, maker of Open Plan and Cobra. Welsh has been involved in the development, sale, and support of project management software for more than 30 years, during which time he has designed and built four commercially available schedule risk analysis systems.