ASTM E1946-98
Historical Standard: ASTM E1946-98 Standard Practice for Measuring Cost Risk of Buildings and Building Systems
SUPERSEDED (see Active link, below)
ASTM E1946
1. Scope
1.1 This practice establishes a procedure for measuring cost risk for buildings and building systems, using the Monte Carlo simulation technique as described in Guide E 1369.
1.2 A Computer program is required for the Monte Carlo simulation. This can be one of the commercially available software programs for cost risk analysis, or one constructed by the user.
2. Referenced Documents (purchase separately) The documents listed below are referenced within the subject standard but are not provided as part of the standard.
ASTM Standards
E631 Terminology of Building Constructions
E833 Terminology of Building Economics
E1369 Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems
E1557 Classification for Building Elements and Related Sitework--UNIFORMAT II
E2103 Classification for Bridge Elements--UNIFORMAT II
E2168 Classification for Allowance, Contingency, and Reserve Sums in Building Construction Estimating
Keywords
cost model; cost risk analysis; Monte Carlo simulation; sensitivity analysis; UNIFORMAT II; BCRA (building cost risk analysis); Building economics; Cost analysis (of building constructions); Project management; Risk analysis
ICS Code
ICS Number Code 91.010.20 (Contractual aspects)
DOI: 10.1520/E1946-98
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