Schedule Risk Analysis (SRA) (2)

A Schedule Risk Analysis (SRA) simulation, also known as Monte Carlo, is a mathematical technique used to estimate the possible outcomes of an uncertain event. Instead of relying on a single "best-guess" number, it uses probability distributions to account for risk and uncertainty. The process involves running a model thousands of times, each time using a different set of random values within a defined range. This creates a range of possible results and the likelihood of each one occurring.