Novel Probabilistic Approach for Quantification of Cost-Overruns Risk and Determination of Primary Causes

Figure 5

Flowchart of overruns detection and deviation detection. From this flowchart, in the preparation phase, we set parameters like and input necessary schedule data as well as actual cost and progress. Then in the preliminary calculations phase, we perform some precalculations required for the subsequent judgment algorithm. Next, we can conduct overruns detection and deviation detection. The formulas involved in the steps are all marked in the figure.