Archives of Directives

Confidence (Confidence Level)

The probability that a cost estimate or schedule can be achieved or bettered. This is typically determined from a cumulative probability profile (see Cumulative Distribution Function‖) that is the output from a Monte Carlo simulation.
Document metadata
FieldValue
Definition 1

The probability that a cost estimate or schedule can be achieved or bettered. This is typically determined from a cumulative probability profile (see Cumulative Distribution Function‖) that is the output from a Monte Carlo simulation.

CategoriesAdministration, Business and Support Services, Safety, Security
Term OPIPM - Office of Project Management Oversight and Assessments
Definition typeDefinition
RelatedSources

Source 1:

DOE G 413.3-7A Chg 2 (LtdChg), Risk Management Guide

Something wrong with this record? Tell us