All of the following statements correctly describe an advantage or disadvantage associated with the use of Monte Carlo Analysis EXCEPT:
A) The flexibility of Monte Carlo Analysis allows for more realistic estimates.
B) Monte Carlo simulation aids in the identification of near-critical paths.
C) Monte Carlo simulations typically require the use of special software and skills.
D) Monte Carlo simulations do not consider risks

Question

All of the following statements correctly describe an advantage or disadvantage associated with the use of Monte Carlo Analysis EXCEPT: 
A) The flexibility of Monte Carlo Analysis allows for more realistic estimates. 
B) Monte Carlo simulation aids in the identification of near-critical paths. 
C) Monte Carlo simulations typically require the use of special software and skills. 
D) Monte Carlo simulations do not consider risks

Quizplus · Accepted Answer

This statement is incorrect. Monte Carlo simulations DO consider risks and are often used precisely because they account for uncertainties and variabilities in a project or system.

All of the Following Statements Correctly Describe an Advantage or Disadvantage