J.D. SolomonMar 15Why Embrace Monte Carlo Analysis for New Project Development Monte Carlo analysis or Monte Carlo simulation is a technique used for forecasting which considers uncertainty and variability. As an...
J.D. SolomonFeb 15Beware 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...
J.D. SolomonOct 11, 2022How to Overcome the Fear of Using the Wrong Probability DistributionProbability Distributions The probability density function (PDF) is applied to continuous random variables, whereas the probability...
J.D. SolomonSep 26, 2022Three Solutions for Establishing Useful Probability DistributionsMonte Carlo simulations are the best approach for assessing uncertainty for future infrastructure and facilities funding requirements....
J.D. SolomonSep 19, 2022Why 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. SolomonNov 11, 2021Drinking Treated Wastewater Is Still A Few Years AwayDrinking treated wastewater is still a few years away because there is not enough demand for it. The technology exists that makes it...