FORECASTING OF SHIP’S CONSTRUCTION COST BY USING THE METHOD OF THE FUZZY SETS THEORY

M. Y. Alekhin () and V. V. Raev ()

Strategic decisions and risk management, 2014, issue 2

Abstract: In order to take a rational decision about construction of a ship it is necessary to have an adequate predictive estimate of a construction cost. Traditional forecasting methods do not provide the required level of reliability of a shipyard’s cost estimates. The method of cost forecasting based on fuzzy logic system is proposed. This method has several advantages, including: use of fuzzy initial information for forecasting; increase of the result’s validity due to the potential of use all relevant information for forecasting. In view of the aforesaid it increases the validity of management decisions and has a positive impact on the overall economic sustainability of an enterprise.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:abw:journl:y:2014:id:110

DOI: 10.17747/2078-8886-2012-2-74-80

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