Parametric Analysis

Philip Pugh

Chapter 16 in Making Essential Choices with Scant Information, 2009, pp 331-350 from Palgrave Macmillan

Abstract: Abstract Provision of quantitative forecasts of cost is unavoidable, even at the very earliest stages of a project. Commonly such forecasts are excessively optimistic. However, this is not inevitable. Accurate forecasts of this kind are possible, provided suitable techniques are employed. Of particular importance is the fact that the forecaster concentrates upon total costs and avoids being drawn into excessive detail. To descend prematurely into detail is to base forecasts upon what is not yet known and can only be conjectured.

Keywords: Explanatory Variable; Gross Domestic Product; Analyse Information; Unit Production Cost; Concept Stage (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23683-7_16

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DOI: 10.1057/9780230236837_16

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