Impact of aleatoric, stochastic and epistemic uncertainties on project cost contingency reserves
By D. Curto, F. Acebes, J.M. González-Varona, D. Poza
Rating
1109
Battle Count: 114
Relevance
5/10
While focused on construction project management, the approach to modeling different types of uncertainties could be adapted for financial risk management and portfolio optimization.
Implementation Complexity
7/10
Requires expertise in Monte Carlo simulation and risk management. Implementation involves creating custom simulation models and integrating various uncertainty types.
Reproducibility
4/5
The paper provides detailed methodology and case study, enhancing reproducibility. However, specific simulation code is not provided.
About this paper
Methodology: Monte Carlo Simulation. Problem types: Risk Management, Cost Estimation.
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