1887

Abstract

Project value is highly correlated with decisions made<br>during concept comparison and selection. Decisions as<br>such are made amid uncertainty, putting value at risk. This<br>study details a methodology for determining the loss in<br>project value when inaccurate estimates are used during<br>concept comparison and selection. The difference between<br>net present values (NPVs) based on inaccurate estimates<br>and those based on an alternate hypothesis that is assumed<br>to represent the truth determines the magnitude of loss.<br>The value of the information required to reduce<br>uncertainty can then be obtained.

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/content/papers/10.3997/2214-4609-pdb.148.iptc11861
2008-12-03
2024-03-28
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http://instance.metastore.ingenta.com/content/papers/10.3997/2214-4609-pdb.148.iptc11861
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