Please use this identifier to cite or link to this item:
https://dair.nps.edu/handle/123456789/2840
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Edouard Kujawski | |
dc.contributor.author | Diana Angelis | |
dc.date.accessioned | 2020-03-16T18:20:51Z | - |
dc.date.available | 2020-03-16T18:20:51Z | - |
dc.date.issued | 2008-09-01 | |
dc.identifier.citation | Published--Unlimited Distribution | |
dc.identifier.uri | https://dair.nps.edu/handle/123456789/2840 | - |
dc.description | Financial Management / NPS Faculty Research | |
dc.description.abstract | Naval vessels, like most large-capital projects/programs, have a long history of cost growth and overruns. To get a handle on this problem, NAVSEA's Cost Engineering and Industrial Division, NAVSEA 05C, has introduced Probabilistic Cost Risk Analysis (PCRA) into the Department of Defense (DoD) Planning, Programmatic, Budgeting, and Execution System (PPBES). The quantification of cost in terms of Cumulative probability Distribution Functions (CDF) or S-curves provides a macroscopic view of project/program risk. Risk curves alone do not provide adequate visibility into the individual project risk drivers; therefore, they are insufficient for planning and managing Risk Reduction Activities (RRA). Complex projects typically involve a set of high-consequence, project-specific risks that require detailed analysis and for which risk response actions need to be developed and implemented. The analysis of specific risks and RRAs requires a microscopic view. We present a practical and mathematically sound approach using scenarios and Monte Carlo simulation within the framework of decision trees and risk curves. The approach is detailed using a realistic but simplified case of a project with three technical risks. | |
dc.description.sponsorship | Acquisition Research Program | |
dc.language | English (United States) | |
dc.publisher | Acquisition Research Program | |
dc.relation.ispartofseries | Costing | |
dc.relation.ispartofseries | NPS-FM-08-123 | |
dc.subject | Probabilistic Cost Risk Analysis (PCRA) | |
dc.subject | Planning | |
dc.subject | Programmatic | |
dc.subject | Budgeting | |
dc.subject | and Execution System (PPBES) | |
dc.subject | Cumulative Probability Distribution Functions (CDF) | |
dc.subject | Risk Reduction Activities (RRA) | |
dc.subject | Monte Carlo Simulation | |
dc.title | Dynamic Cost Risk Assessment for Controlling the Cost of Naval Vessels | |
dc.type | Technical Report | |
Appears in Collections: | Sponsored Acquisition Research & Technical Reports |
Files in This Item:
File | Size | Format | |
---|---|---|---|
NPS-FM-08-123.pdf | 416.78 kB | Adobe PDF | View/Open |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.