Probability Methods for Cost Uncertainty Analysis : A Systems Engineering Perspective

Rating:
Summary: A Must Book for Engineers and Engineering Managers!
Review: This is a must book for engineers, scientists, and engineering managers. Garvey's book presents how probability theory is applied to model, measure, and manage risk in the cost of a systems engineering project. The work is a first of its kind in the engineering, cost engineering/analysis, and operations research communities.

The book provides readers a clear discussion on the nature of uncertainty, how it affects the cost of a systems engineering project, and how probability methods are used to model, measure, and control risk from a systems engineering perspective. Readers benefit from the numerous mathematical and professional anecdotes, case discussions, results, observations, and interpretations found throughout the chapters.

The book contains 110 applied and theoretical exercises. It is an outstanding text for students in engineering and the related fields.

Rating:
Summary: Best technical book written yet, on this subject
Review: Well written and very thorough in its treatment of how probability methods are used to quantify cost risk; excellent textbook for students (lots of exercises), as well as for professional cost analysts.