Title:
ANALYSIS OF COST-BENEFIT EVALUATION MODELS BY SENSITIVITY AND RISK MANAGEMENT FOR MONITORING AND CONTROLLING OF A PROJECT LIFE CYCLE

Authors:
G. M. G Farok, Jose A. Garcia

Abstract:
The financial and economic benefit-cost models of projects are based on forecasts of quantifiable variables such as product availability, demand, costs and benefits. The values of these variables are estimated due to the probable forecasts which stand for a long period of time. The mathematical models and values of these variables for the expected outcome results are influenced by a great number of sensitivity and risk indicators, and the parameters may differ considerably from the forecasted values, depending on future developments. As a result, costbenefit evaluation develops these models for monitoring and controlling of scope, time, cost and quality of a project.