Refining the use of Monte Carlo techniques for risk analysis in project planning
重新审视蒙特卡洛方法在项目评估风险分析中的应用，指出传统方法的局限，提出改进方案以处理项目全生命周期中变量的不确定性、相关性和周期性，并通过实例说明，强调实用性和对评估者先验知识的最小依赖。
Monte Carlo approaches to risk analysis in project appraisal are re‐examined. Limitations with conventional methods are identified, and refinements suggested that deal with increasing uncertainty about variables throughout the project life, along with correlations and cycles among variables. These are illustrated with an example. Emphasis is placed on a practical approach that minimises demands on the appraiser's prior knowledge. Modelling the objective function of an investment appraisal autoregressively enables complete distributional mapping of project outcome, given specification by the appraiser of ‘likely bounds’ for the value of key parameters in the first and last periods of the project life plus an approximate correlation matrix.