Analysing project cost overruns: Comparing the "measured mile" analysis and system dynamics modelling
Analysing project cost overruns: Comparing the "measured mile" analysis and system dynamics modelling
The forensic analysis of failed projects is often intended to identify specific reasons and allocate blame for significant cost overruns. In claim circumstances two approaches are often used: the “measured mile”, and system dynamics simulation modelling.
This note compares these approaches and argues that, although it is the most popular approach in litigation, the measured mile method is unreliable in cases where disruptions and delays are a significant part of the explanation for additional costs and late delivery of a project.
135-139
Eden, Colin
db5ed969-1735-4ad2-8694-fafb5c06686b
Williams, Terry
085e6e3e-f94e-435c-936e-82fb0c5c4ae8
Ackermann, Fran
de3bfd09-472a-44ee-9adb-d32b0c0b3291
2005
Eden, Colin
db5ed969-1735-4ad2-8694-fafb5c06686b
Williams, Terry
085e6e3e-f94e-435c-936e-82fb0c5c4ae8
Ackermann, Fran
de3bfd09-472a-44ee-9adb-d32b0c0b3291
Eden, Colin, Williams, Terry and Ackermann, Fran
(2005)
Analysing project cost overruns: Comparing the "measured mile" analysis and system dynamics modelling.
International Journal of Project Management, 23 (2), .
(doi:10.1016/j.ijproman.2004.07.006).
Abstract
The forensic analysis of failed projects is often intended to identify specific reasons and allocate blame for significant cost overruns. In claim circumstances two approaches are often used: the “measured mile”, and system dynamics simulation modelling.
This note compares these approaches and argues that, although it is the most popular approach in litigation, the measured mile method is unreliable in cases where disruptions and delays are a significant part of the explanation for additional costs and late delivery of a project.
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Published date: 2005
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Local EPrints ID: 36905
URI: http://eprints.soton.ac.uk/id/eprint/36905
ISSN: 0263-7863
PURE UUID: 7a52d5fc-29c7-40b0-a7a6-1734101584d3
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Date deposited: 23 May 2006
Last modified: 15 Mar 2024 07:57
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Author:
Colin Eden
Author:
Terry Williams
Author:
Fran Ackermann
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