Qualitative and Quantitative Analysis &Risk Response Planning
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Risk Based Estimation in Construction Projects
Abstract: Final cost of a project is always subjected to many variables and assumptions. A single value estimate only represents one of the many possible conditions that can arise in the future. Hence a cost estimate should be represented as a range of values rather than a single value. Construction projects are complex project which involve many uncertainties. Uncertainties in activities can be a threat to the project objective or an …
Published in Journal of Construction Engineering, Technology & Management · Vol. 12, Issue 3, 2022 · pp. 24–36 Read article