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Impact of aleatoric, stochastic and epistemic uncertainties on project cost contingency reserves
Curto, David; Acebes Senovilla, Fernando; González-Varona, José Manuel; Poza García, David (ELSEVIER (International Journal of Production Economics), 2022)In construction projects, contingency reserves have traditionally been estimated based on a percentage of the total project cost, which is arbitrary and, thus, unreliable in practical cases. Monte Carlo simulation provides ... -
MCSimulRisk: an Educational Tool for Quantitative Risk Analysis.
Acebes Senovilla, Fernando; Curto, David; González-Varona, José Manuel; Pajares, Javier (ARGESIM, 2024)MCSimulRisk (Monte Carlo Simulation for Risk Analysis) is an application developed in MATLAB for Monte Carlo Simulation and quantitative risk analysis. In the Master's Degree in Project Management at the University of ...