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Risk Analysis BCF106 Fundamentals of Cost Analysis November 2009 Chapter 11 Risk Analysis 11.0 Introduction . 3 11.1 Background . 3 11.
Question # 1 In performing a symmetric approximation, you calculate a mean of the total system cost as $1,725K. The variance is 22500. The POE is $1,600K. What is the probability of overrunning the POE?Question # 21) Of the three risk analysis approaches described in the chapter…All three assume the normality of the total cost distribution. The Monte Carlo is the only one capable of handling a range of correlations between the cost elements. Only sensitivity analysis assumes independence of the individual cost elements. All three are constrained to treating the individual cost elements as being independent.
