Got to know about these wonderful Monte-Carlo simulation tools that are add-ins for Microsoft Project. They simulate multiple runs of various paths of a Microsoft project schedule, assume a triange/beta distribution for each task estimate and compute the likelyhood of finishing a project by a particular date.
cool stuff....
1. Palisade tools - http://www.palisade.com/riskproject/default.asp
2. Del-tek Risk+ - http://www.deltek.com/products/riskplus/
