Monte Carlo Analysis
Monte Carlo analysis is a tool for examining and predicting the effects of uncertainty in individual costs on the overall cost of a project or program.
Performing Monte Carlo Analysis
Mandrel merely provides a front end to Palisade Corporation's @Risk analysis software. In order to perform Monte Carlo analysis on your data you must have @Risk for Excel software available on your system.
|Mandrel does not perform Monte Carlo analysis itself, nor is @Risk distributed as part of the Mandrel package. You must therefore have a copy of @Risk on your system before you can usefully employ this facility.|
What Does Mandrel Do?
In order to perform its analysis, @Risk requires your spreadsheet to have some special Excel-type formulas inserted into it. Mandrel automates the formula generation and insertion process.