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

<table class="table-group" id="tab3"><tr><td><table class="table"><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr class="thead"><td class="align_center" colspan="4">Parameters in material</td></tr><tr class="thead"><td class="align_left">Material type</td><td class="align_center">Concrete</td><td class="align_center">Steel</td><td class="align_center">Rebar</td></tr><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr><td class="align_left"><i>μ</i></td><td class="align_center">1.2</td><td class="align_center">1.2</td><td class="align_center">1.2</td></tr><tr><td class="align_left"><i>σ</i></td><td class="align_center">0.5</td><td class="align_center">0.5</td><td class="align_center">0.5</td></tr><tr><td class="align_left">Price</td><td class="align_center">450</td><td class="align_center">27,846</td><td class="align_center">36,895</td></tr><tr class="table-tr"><td colspan="4"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><div>The unit of price is yuan (CNY).<br/></div></td></tr></table>

<div>Material parameter settings in case study.</div>

Mathematical Problems in Engineering

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Table 3

Table 3: Novel Probabilistic Approach for Quantification of Cost-Overruns Risk and Determination of Primary Causes 