Keywords cost risk analysis systematic simulation pearson correlation standard
Describe a systematic simulation based cost risk analysis approach demonstrating how to model:
CER risk (including factor relationships)
Configuration (cost driver) risk
Correlation (Pearson product moment, not Spearman rank order)
Propose standards to characterize and present the results
Propose what needs to be “published” to bring standardization to Cost Risk analysis independent of the tool(s) selected
Compare Crystal Ball, @Risk, ACE and FRisk to an analytically solved case study and case studies for which no analytical solution is feasible.
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