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Value, risk and uncertainty

By: Series: Cost Engineer ; 43(1) February 2005, 20-22(3)Publication details: 2005Subject(s): Summary: Paper commences with the basic definition of value and considers how uncertainty can be expressed, in addition to setting out a simple method for calculating the resulting probability for the definition of value. With various tables including an illustration of cumulative probabilities for value.

Paper commences with the basic definition of value and considers how uncertainty can be expressed, in addition to setting out a simple method for calculating the resulting probability for the definition of value. With various tables including an illustration of cumulative probabilities for value.