Monte Carlo simulation: Explore both the benefits and drawbacks of using Monte Carlo simulation in project planning.

Monte Carlo simulation

Research paper in APA format that explains how a project manager might use Monte Carlo simulation during any part of project planning (scheduling, budgeting, and risk assessment are all acceptable areas to explore). After explaining what Monte Carlo simulation is, Explore both the benefits and drawbacks of using Monte Carlo simulation in project planning. This assignment does not ask you to make any personal reflections, so only use 3rd person point-of-view.

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