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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
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.
0263-7863
135-139
Eden, Colin
db5ed969-1735-4ad2-8694-fafb5c06686b
Williams, Terry
085e6e3e-f94e-435c-936e-82fb0c5c4ae8
Ackermann, Fran
de3bfd09-472a-44ee-9adb-d32b0c0b3291
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), 135-139. (doi:10.1016/j.ijproman.2004.07.006).

Record type: Article

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

Identifiers

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 Jul 2019 19:04

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Contributors

Author: Colin Eden
Author: Terry Williams
Author: Fran Ackermann

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