Discussion Post: Moment of Methods vs. Monte Carlo
Three-point estimates (moment of methods) and Monte Carlo simulation both can be used for determining project risk contingency reserves with varying levels of accuracy.
Write a page to compare and contrast the moment of methods approach with Monte Carlo simulation and explain how each might be used on projects of varying size and scope.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.