Cost, time and technical performance risk mitigation in large, complex and innovative aeronautics development projects
T. Browning, Texas Christian University, USA
Large, complex, innovative development projects, such as many in the aeronautical industry, occur under conditions of consequential uncertainty, i.e. risk. Risk is manifest with respect to project cost, schedule, and technical performance. These risks need to be managed in relation to each other as well as to the project schedule, budget, and technical requirements. This chapter presents an integrated model to plan and monitor project value in terms of all of these areas. The model complements conventional approaches such as earned value management, which does ...