January - Monte Carlo Simulation for Modeling Risk and Reliability

Jason -

This webinar was presented by Jason Lillywhite in January 2012. Below is a brief summary of the presentation. You can also download materials used during the presentation by clicking on the link(s) at the end of the article.

This webinar covered an introduction to Monte Carlo Simulation followed by a presentation of a applications in modeling risk and reliability. Specifically, the following GoldSim features and concepts were discussed:

  • Defining Stochastic inputs
  • Understanding the probability history, result distributions, and multi-variate plots
  • Reliability function and action component (brief introduction)

Power Point presentation and example model file used in the demonstration:


  • monte carlo
  • reliability
  • risk
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