Distributions and correlations in Monte Carlo simulation

Construction Management and Economics

Volumn 15, Issue 3, 1997, Pages 241-258

  Wall, David M ^a  

^a LONDON SOUTH BANK UNIVERSITY   (United Kingdom)

Author keywords

Correlation; Cost analysis; Distributions; Interdependence; Monte Carlo simulation

Indexed keywords

CORRELATION METHODS; COST ACCOUNTING; COST BENEFIT ANALYSIS; OFFICE BUILDINGS; RISK ANALYSIS; RISK ASSESSMENT; STATISTICAL TESTS;

BETA DISTRIBUTIONS; CONSTRUCTION COSTS; CONSTRUCTION PROFESSIONALS; CONSTRUCTION PROJECTS; COST ANALYSIS; DISTRIBUTIONS; INTERDEPENDENCE; LOG-NORMAL DISTRIBUTION;

MONTE CARLO METHODS;

EID: 0006439585     PISSN: 01446193     EISSN: None     Source Type: Journal    
DOI: 10.1080/014461997372980     Document Type: Article

References (19)

1. Beeston, D.T. (1983) Statistical Methods for Building Price Data. E. & F.N. Spon, London.
2. Brandon, P.S. (1982) Building cost research - need for a paradigm shift? In Building Cost Techniques: New Directions, Brandon, P.S. (ed.), E. & F.N. Spon, London.
3. Byrne, P. and Cadman, D. (1984) Risk, Uncertainty and Decision making in Property Development. E. & F.N. Spon, London.
4. Chau, K.W. (1995a) The validity of the triangular distribution assumption in Monte Carlo simulation of construction costs: empirical evidence from Hong Kong. Construction Management and Economics, 13(1), 15-21.
5. Chau, K.W. (1995b) Monte Carlo simulation of construction costs using subjective data. Construction Management and Economics, 13(5), 369-383.
6. Decisioneering (1993) Crystal Ball Version 3.0, User Manual. Decisioneering, Denver.
7. Ferry, D.S. and Brandon, P.S. (1991) Cost Planning of Buildings, 6th Edn. BSP Professional Books, London.
8. Fine, B. (1974) Tendering strategy. Building, 25 October.
9. Flanagan, R. and Norman, G. (1982) Risk analysis - an extension of price prediction techniques for building work. Construction Papers, 1(3), 27-34.
10. Flanagan, R. and Norman, G. (1993) Risk Management and Construction. Blackwell, Oxford.
11. Flanagan, R. and Stevens, S. (1990) Risk analysis. In Quantity Surveying Techniques: New Directions, Brandon, P.S. (ed.), BSP Professional Books, London, pp. 121-138.
12. Hertz, D. (1964) Risk analysis in capital investment. Harvard Business Review, 95-106.
13. Hoel, P.G. (1984) Introduction to Mathematical Statistics, 5th Edn. Wiley, New York.
14. Kanji, G.K. (1993) 100 Statistical Tests. Sage Publications, London.
15. Moselhi, O. and Dimitrov, B. (1993) Monte Carlo technique with correlated random variables-discussion. Journal of Construction Engineering and Management, 119(3), 658-661
16. Pouliquen, L.Y. (1970) Risk Analysis in Project Appraisal, World Bank Staff Occasional Papers Number 11, International Bank for Reconstruction and Development. The Johns Hopkins Press, Baltimore.
17. Raftery, J. (1994) Risk Analysis in Project Management. E. & F.N. Spon, London.
18. Touran, A. and Wiser, E.P. (1992) Monte Carlo technique with correlated random variables. Journal of Construction Engineering and Management, 118(2), 258-272.
19. Wall, D. (1988) A probabilistic investment analysis model that uses real variables to forecast the profitability of a proposed new commercial development. Unpublished M.Sc Dissertation, University of the Witwatersrand, Johannesburg.