ASTM E1946-98 - 10.4.1998
 
1. Scope

1.1 This practice establishes a procedure for measuring cost risk for buildings and building systems, using the Monte Carlo simulation technique as described in Guide E 1369.

1.2 A Computer program is required for the Monte Carlo simulation. This can be one of the commercially available software programs for cost risk analysis, or one constructed by the user.

 
2. Referenced Documents

E833-14(2021)

Standard Terminology of Building Economics

E631-15

Standard Terminology of Building Constructions

E1557-09(2020)e1

Standard Classification for Building Elements and Related Sitework´UNIFORMAT II (Includes all amendments and changes 5/6/2020).

E1369-15(2020)e1

Standard Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems (Includes all amendments and changes 5/6/2020).

E2103-11

Standard Classification for Bridge Elements—UNIFORMAT II

E2168-10(2023)

Standard Classification for Allowance, Contingency, and Reserve Sums in Building Construction Estimating