PTB meaning in Computing ?
Answer: What is Project Team Builder mean?
Project team builder (PTB) is a project management simulation tool developed for training and teaching the concepts of project management and for improving project decision making. A number of published books and academic papers are based on the PTB and its predecessors. The PTB won the Project Management Institute Professional Development Product of the Year Award.The PTB is used in universities and business organizations around the world. The simulator is based on an approach that separates the simulation engine from the scenario editor and allows each user (or instructor) to simulate any project. The simulation engine simulates the dynamic stochastic nature of modern projects. The design of the PTB supports the system engineering approach to Problem solving as each scenario presents the requirements, the alternatives that can be selected and the constraints imposed on the solution. The user has to trade off the cost, schedule, risk, and benefits to the stake holders and to find a feasible, robust, good solution for the scenario. The solution is then simulated by the simulation engine while the trainee exercises monitoring and control throughout the execution.A planned project can be simulated using Monte Carlo simulation. This is done in automatic mode (without a human decision maker involved) and shows the probability to finish the project at any time period or at any cost. Furthermore, based on the Monte Carlo simulation the probability of each activity to be on the critical path is estimated (the criticality index). The Monte Carlo analysis supports risk analysis and decision making.Another characteristic of the simulator is the ability to save points in the history of each run for future analysis or even for testing a different solution from any of the points saved.
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