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CRC Press Probability Methods for Cost Uncertainty Analysis 2nd Ed

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Description

Master the analytical methods required for modeling and measuring uncertainty in engineering system costs with this second edition. This text provides a deep look into the systems engineering perspective, focusing on the practical application of probability theory to manage financial risks. Learn how to handle the correlation between different system element costs and how to effectively present complex analysis results to decision-makers. The book covers advanced techniques, such as using bivariate probability distributions to capture the joint interactions between a system's cost and its schedule. By focusing on analytical techniques from probability theory and Monte Carlo simulation, this resource helps professionals build more accurate models for complex engineering projects.

Key Features

Provides a thorough grounding in analytical methods for modeling and measuring uncertainty in engineering system costs.

Explains how to treat correlation between the costs of various system elements to improve model accuracy.

Offers guidance on how to present complex cost analysis data clearly to decision-makers.

Covers the use of bivariate probability distributions to capture joint interactions between system cost and schedule.

Focuses on practical analytical techniques from probability theory and Monte Carlo simulation methods.

Product Specifications

Format
paperback
Domain
Amazon UK
Release Date
18 December 2020
Listed Since
14 October 2020

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