In this lesson, you run the simulation to calculate the total cost to be invested on the development effort. The simulation distribution of the financial metrics of the project is calculated using Monte Carlo simulation.
1 In the Engineering stream, click the Calculator tab.
2 Select Auto recalc.
3 Select Graph results to display the probability graph.
4 Click Run Simulation.
5 Click Apply simulation to 2014 Q1 to see the development cost in the first quarter of 2014. The cost is plotted in the graph for 2014 Q1.
6 Similarly, move the slider to each quarter and click Apply simulation to YYYY QX to see the development cost for each quarter from the year 2014 to 2015. The development cost is plotted in the graph for each quarter from the year 2014 to 2015.
7 Click Save.
Lesson checkpoint
In this lesson, you learned to:
▪ run the simulation
▪ apply the simulation results to each quarter in the project lifetime.
