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Monte Carlo Simulation in Risk Management by El Ehsan Abinya Fatih is a document available to read on EtoBox.
This document summarizes a presentation given at the 6th International Probabilistic Workshop in Darmstadt, Germany in 2008. The presentation discusses using Monte Carlo simulation for risk management in international construction projects. It introduces the theoretical risk management cycle and objectives of risk analysis in project cost estimation. It then provides an example of a two-stage risk assessment process, using Monte Carlo simulation to evaluate key risks like subcontractor costs. The results of
- Author
- El Ehsan Abinya Fatih
- Language
- EN