Is Your Office Lean?

The other day I received the Synchronization newsletter produced by Xonitek Corporation. It typically has very interesting articles that are pertinent to today‚Äôs business issues. The article this month that caught my attention was written by Robert Clark, titled Is your office lean? Making every moment count. It is an excellent summary of wastes hidden […]

Correlation in Cost Estimates: Effect of Ignoring Them or Not

In this post, we’re looking at the components of a risk analysis performed to estimate costs of a construction project. These analyses can be performed in @RISK, Palisade’s software for risk analysis using Monte Carlo simulation. @RISK is an add-in to Microsoft Excel. When dependence exists, the estimated probability density functions (PDFs) of the cost […]