Monte Carlo Analysis is a technique that computes activity durations based on three time estimates: one optimistic,one pessimistic and one most likely.

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Quizplus · Accepted Answer

Monte Carlo Analysis uses random sampling and statistical modeling to estimate possible outcomes, not just three time estimates. The technique that uses three time estimates is called the PERT (Program Evaluation and Review Technique).

Monte Carlo Analysis Is a Technique That Computes Activity Durations