Optimizing the Search for Cost Deviation Sources

Joel S. Demski
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Joel S. Demski: Stanford University

Management Science, 1970, vol. 16, issue 8, B486-B494

Abstract: The typical statistical cost control model determines when a cost deviation is significant, but does not determine the optimum search procedure for restoring the process to a state of control. This search procedure is important because any given cost deviation may be the result of a number of individual causes and each cause requires different search activity. A model is developed (and subsequently extended) for determining the optimum sequence in which to examine the various possible causes.

Date: 1970
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