1. Scope
1.1 This practice covers 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
E2168 Classification for Allowance, Contingency and Reserve Sums in Building Construction Estimating
Index Terms
cost model; cost risk analysis; Monte Carlo simulation; sensivity analysis;
ICS Code
ICS Number Code 91.010.20 (Contractual aspects)
DOI: 10.1520/E1946-07
ASTM International is a member of CrossRef.
Citing ASTM Standards
[Back to Top]
