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On the fallacy of averages in project risk management [An article from: European Journal of Operational Research]

On the fallacy of averages in project risk management [An article from: European Journal of Operational Research]
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On the fallacy of averages in project risk management [An article from: European Journal of Operational Research]

 
 
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Description

This digital document is a journal article from European Journal of Operational Research, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
Managers recognize the presence of uncertainty in the estimates of the various parameters of their projects, but usually circumvent the required analysis (which can be demanding) by replacing the random variables by their averages. This paper argues against such practice. It demonstrates that gross errors can be committed in cost estimates and in the bids based on them.


Product Details
Author:S.E. Elmaghraby
Publisher:Elsevier

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David Hoicka

David Hoicka Green and Sustainable Affordable Housing

   Hi I'm David Hoicka.
I am a Senior Executive and Senior Manager for Affordable Housing Programs
in many places nationally and internationally


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