J.D. Solomon
Beware of Monte Carlo Analysis for New Project Development
Monte Carlo analysis has some key limitations which make the technique a major cause of concern for new project development. This article...
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J.D. Solomon
- Nov 21, 2022
How to Improve Your Communication of Probability to Senior Management
The Chance of Rain Most people do not understand what the chance of rain means. Some believe it means it will rain "30% of the day,"...
J.D. Solomon
- Sep 26, 2022
Three Solutions for Establishing Useful Probability Distributions
Monte Carlo simulations are the best approach for assessing uncertainty for future infrastructure and facilities funding requirements....
J.D. Solomon
- Sep 19, 2022
Why Are You Wasting Infrastructure Money By Not Using Monte Carlo Analysis?
Understanding the total cost of ownership is a fundamental principle of asset management of facilities and infrastructure. However, all...
J.D. Solomon
- Sep 13, 2022
Why I Will Never See an Ensemble Model on an Asset Management Project
Hurricane tracking is very good these days, especially in forecasting storm intensity and location two to seven days in advance....
J.D. Solomon
- Dec 8, 2021
Better Data Quality is a Significant Outcome of Forecasting Lifecycle Costs
A lifecycle replacement forecast provides a financial forecast of the total investment needed by an organization to keep its facilities...
J.D. Solomon
- Nov 11, 2021
Drinking Treated Wastewater Is Still A Few Years Away
Drinking treated wastewater is still a few years away because there is not enough demand for it. The technology exists that makes it...
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