In state of the art devices, it is well known that quantum and Coulomb effects play significant role on the device operation. In this paper we demonstrate that a novel effective potential approach in conjunction with a Monte Carlo device simulation scheme can accurately capture the quantummechanical size quantization effects. We also demonstrate, via proper treatment of the short-range Coulomb interactions, that there will be significant variation in device design parameters for devices fabricated on the same chip due to the presence of unintentional dopant atoms at random locations within the channel.