Okmen, Onder; Oztas, Ahmet - In: Construction Management and Economics 28 (2010) 2, pp. 203-212
estimation of the costs but also an analysis of the uncertainty of the estimated costs is required. This requirement gains more … costs and simply calculating the total, is deterministic and insufficient. This approach neglects the uncertainty and the … correlation effects. A new simulation-based model—the correlated cost risk analysis model (CCRAM)—is proposed to analyse the …