... on the binomial method (BM) of real options analysis and then implemented on a computer system. A hybrid algorithm that integrates Monte Carlo simulation (MCS) and BM was also developed. A real-life project was used to test the model. Sensitivity analysis was also conducted to explore the influence of input...

... environmental performance. Monte Carlo simulation is utilized for enabling sustainable product design. Findings – The results show that the model is capable of assessing the potential reusability of used products, while the usage of simulation significantly increases the effectiveness of the model...

... variables are generated randomly using Monte Carlo simulation. The major outputs include the generation of histogram, cumulative distribution function, probability/failure probability plots and sensitivity and scatter plots (Figure 1). The crane hook was modeled in Pro/E software package, material...