Abstract
In this chapter we present the second moment methods for evaluating project performance functions where random variables can be continuous and/or discrete. We provide a comprehensive review of the method in context of its accuracy when compared to the results from the Monte Carlo simulation. Furthermore, we analyze the effect of correlations among the random variables and the linearization of the project performance functions.
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Damnjanovic, I., Reinschmidt, K. (2020). Second Moment Approach for the Probability Distribution of Project Performance Functions. In: Data Analytics for Engineering and Construction Project Risk Management. Risk, Systems and Decisions. Springer, Cham. https://doi.org/10.1007/978-3-030-14251-3_3
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DOI: https://doi.org/10.1007/978-3-030-14251-3_3
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Publisher Name: Springer, Cham
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