| The methodology of discrete-event simulation provides a promising alternative to solving complicated construction systems. Given the level of uncertainty that exists in the early estimation phase of mega-projects regarding cost and risk, project simulations have become a central part of decision-making and planning. In this paper, an attempt is made to compare the output generated by a model constructed under the Monte Carlo framework with that of Discrete-Event Simulation to determine the similarities and difference between the two methods. To achieve this, the Simphony modeling (DES) environment is used. The result is then compared to a Monte Carlo simulation conducted by Golder Associates. |
