Budgeting

The Estimated Project Cost Distributions and the Final Project Cost

The Estimated Project Cost Distributions and the Final Project Cost

This entry is part 2 of 2 in the series The Norwegian Governmental Project Risk Assessment Scheme

The growing use of Cost Risk Assessment models in public projects has raised some public concerns about its costs and the models ability to reduce cost overruns and correctly predict the projects final cost. We have in this article shown that the models are neither reliable nor valid, by calculating the probabilities of the projects final costs.

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Budgeting Revisited

Budgeting Revisited

This entry is part 2 of 2 in the series Budgeting

Normally we would expect both the budget and the actual EBITDA to fall somewhere in the region of the expected value.

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Budgeting

Budgeting

This entry is part 1 of 2 in the series Budgeting

Budgeting involves personal judgments about future values of large number of variables that describes the nature of the business.

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