MIT Consulting Group performs Monte Carlo Simulations to analyze uncertainties that may arise in making complex decisions throughout the construction project. Monte Carlo Simulation is an analytical tool that utilizes probabilities of a scenario to produce a risk profile on the consequences of a decision. By using Monte Carlo Simulations, MIT's risk managers can represent the uncertainties surrounding the different alternatives of a decision by statistically analyzing its probability distributions. With MIT's risk profiles for decision alternatives in hand, our clients can ultimately make better decisions.

MIT's risk simulation process can assist any construction and engineering professional in evaluating and determining the best course of action in accounting for construction contingencies and mitigating construction cost overruns, delays and disruptions.