OS4012 Cost Estimation III: Risk and Uncertainty Analysis

Risk and Uncertainty Analysis provides the foundation for an understanding of risk management as it relates to cost estimation. It addresses program risks that help ensure program costs, schedule, and performance objectives are met. Students are given an overview of how to model the cost/risk associated with a defense acquisition program. Topics covered include basic probability concepts, correlation, Cost drivers, subjective probability assessment, goodness-of-fit testing, and simulation concepts using spreadsheet-based simulation packages. Monte Carlo simulation based cost risk case reinforce the techniques taught.

Prerequisite

OS3080, OS3701

Lecture Hours

3

Lab Hours

0

Quarter Offered

  • Winter
  • Spring