Monte Carlo simulation/technique - Monte Carlo simulation is a computer-based technique that performs probabilistic forecasting of possible outcomes to facilitate decision making. For each possible decision — from the most high-risk to the most conservative — a Monte Carlo simulation provides decision makers with a range of possible outcomes and the likelihood that each will occur.
MoSCoW - The MoSCoW prioritization method allows project managers to communicate with stakeholders on the importance of delivering specific requirements. The acronym indicates four categories of priority and importance for project requirements. Each requirement is prioritized as a “must have,” a “should have,” a “could have,” or a “won’t have.”
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