Full Monte is a high performance cost and schedule risk analysis add-in for Microsoft Project 2007 (and above) that uses Monte Carlo simulation to estimate the probability of completing your project, or achieving important milestones, on time and on budget, enabling you to re-organize your schedule as necessary to maximize this probability. Full Monte is affordable, fast, and easy to use.
All this plus flexible user-definable reports including barcharts, and access to percentiles as well as expected values and standard deviations of cost, duration, early and late dates, free and total float for every task. Histograms and S-curves of all of this data are available at the touch of a button once a simulation has been performed.
Sensitivity analysis pinpoints those tasks or outside influences which most critically affect the finish date and cost of the project, or part of the project. Full Monte’s sophisticated sensitivity analysis tools produce a short-list of the most likely candidates during the risk analysis, in the form of a tornado chart. From this you are a mouse-click away from a more thorough analysis for any task, which among other things can tell you the influence of that task on any percentile (e.g. “P-80”) of the project finish date or cost.
Full Monte’s uniquely simple implementation of correlations through “correlation sources” allows multiple tasks to be correlated due to one or more outside influences, while precisely maintaining their specified distributions. Furthermore, it requires no extra data other than the name of the source.
This is more powerful than specifying correlations directly between task durations, and contrasts with the much more complicated idea of multiplicative “drivers,” which require additional data entry