Forecasting software project's completion date through Monte Carlo Simulation FREE spreadsheet
Stakeholders almost always want the project done faster than it is possible. When they ask you the date in which you will finish the work, you never have the right answer. It is indeed difficult to have an end date for your project, but you can give them probabilities instead and, together, talk about the likelihood of finishing it.
In order to retrieve those probabilities, we use a statistical method, called Monte Carlo Simulation, over our project’s throughput and backlog history. The result is a chart with the probability of finishing a project within the next weeks. Now we can keep the team inspired to work, the stakeholders happy with end-of-project predictions and the project manager confident.
We are making a simple version of our spreadsheet available for you, so you can run simulations without much work.
Fill out the form on the right to download it. It's free!