Product Description
A careful blend of theory and practice, this book presents a comprehensive approach to assessing the impact of unplanned events on the cost of engineering complex systems. It illustrates how probability theory is applied to model, measure, and manage risk in the cost of a systems engineering project. The book contains numerous mathematical and professional anecdotes, case studies, results, observations, and interpretations that clarify the challenges in cost risk an… More >>
Probability Methods for Cost Uncertainty Analysis : A Systems Engineering Perspective
Tags: Analysis, careful blend, Cost, Engineering, engineering complex systems, engineering project, Methods, perspective, Probability, probability methods, probability theory, Systems, theory and practice, uncertainty, uncertainty analysis, unplanned events
Well written and very thorough in its treatment of how probability methods are used to quantify cost risk; excellent textbook for students (lots of exercises), as well as for professional cost analysts.
Rating: 5 / 5
This is a must book for engineers, scientists, and engineering managers. Garvey’s book presents how probability theory is applied to model, measure, and manage risk in the cost of a systems engineering project. The work is a first of its kind in the engineering, cost engineering/analysis, and operations research communities.
The book provides readers a clear discussion on the nature of uncertainty, how it affects the cost of a systems engineering project, and how probability methods are used to model, measure, and control risk from a systems engineering perspective. Readers benefit from the numerous mathematical and professional anecdotes, case discussions, results, observations, and interpretations found throughout the chapters.
The book contains 110 applied and theoretical exercises. It is an outstanding text for students in engineering and the related fields.
Rating: 5 / 5