The Role of Probabilistic Modeling in Schedule Risk Analysis
One of the more fascinating elements of history is the way in which individual humans can influence its course and change the future. For instance, where would the world be today if Winston Churchill had not stood so indomitably – and virtually alone against Hitler and Nazism? One person can impact the whole of humanity from one point in time forward. Another such contributor to the progress of humanity was Thomas Bayes. Bayes, the father of Bayesian analysis., lived in England in the 1700’s. It was his forward thinking that brought us probabilistic stochastic modeling.