Free PMP Exam Sample Question
The following PMP® exam sample question is taken from the Free PMP Exam Simulator (The answer is at the very bottom):
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To calculate the total project cost, you use a technique that uses input values selected at random from probability distribution of possible cost. Which of the following options best describes this method?
A) Automated Schedule Development
B) Monte Carlo Analysis
C) Schedule Risk Analysis
D) e-Pert
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Hint: This is a simulation technique.
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Answer and Explanation:
The Correct Answer is B. Monte Carlo analysis is a simulation technique. It uses computer models and estimates of risk usually expressed as a probability distribution of possible costs or durations at a detailed work level.