Events

TRL-Based Modeling for Cost and Schedule Uncertainty

Web Knowledge Exchange Event

April 19, 2012

2:00 PM - 3:00 PM EDT

Dr. Bob Kenley and Bernard El-Khoury present TRL-Based Modeling for Cost and Schedule Uncertainty and describe statistical models for cost uncertainty, schedule estimation, and schedule uncertainty that use technology readiness levels (TRLs) as the only user-provided inputs. The goal is to provide a simple, yet powerful, modeling method that is applicable to advanced technology development projects in multiple industries.

Data-driven models can be applied easily and effectively to identify key technical areas associated with cost and schedule uncertainties. Current approaches require multiple inputs that can be subjective and are not integrated with technology readiness assessments performed as part of the technical risk management effort.

This presentation will highlight:

• Two modeling approaches for schedule uncertainty (mean and median) and spreadsheet add-ins that implement the approaches
• Several approaches for cost uncertainty modeling and recommendations for application
• An analysis of transition times from one TRL to the next provided by the Department of Energy and NASA

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https://mitweb.webex.com/mitweb/onstage/g.php?t=a&d=646467893