uncertainty and global sensitivity analysis with an innovative visualization technique. While straightforward and elegant, this …

manage the influence of uncertainty on cost estimates. Design/methodology/approach – The research applied the Soft Systems … were realised in project planning, uncertainty visualisation, and capability management. Research limitations …/value – The paper builds on the theory behind risk and uncertainty management and proposes an innovative framework that avoids the …

Although flood risk assessments are frequently associated with significant uncertainty, formal uncertainty analyses are … the exception rather than the rule. We propose to separate two fundamentally different types of uncertainty in flood risk … analyses: aleatory and epistemic uncertainty. Aleatory uncertainty refers to quantities that are inherently variable in time …

In this teaching note we show how to use sensitivity analysis to consider uncertainty in the valuation of cash flows …