The USV Annals of Economics and Public Administration, Vol 23, No 1(37) (2023)

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ECONOMIC RISKS FOR PROJECT MANAGEMENT – A MONTE CARLO SIMULATION APPROACH

PAUL PASCU

Abstract


Monte Carlo simulation is a technique that includes several simulation techniques in which the analysis of the real phenomenon is replaced by the analysis of an artificial phenomenon, described by a model, by solving it generating for variables, random values. This paper explores the applications of Monte Carlo simulation for managing project risks.


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                     Ştefan cel Mare University of Suceava                   Faculty of Economics, Administration and Business
 

 

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