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lunes, 14 de julio de 2014
Probabilistic Risk Analysis Generates Big Returns
Long before statistical whiz Nate Silver predicted the outcome of the 2012 presidential election and "Moneyball" became a household word, structural engineers employed the Monte Carlo method of simulating failures to fine-tune their designs of tall buildings and other critical structures. Now probabilistics is finding broader use among project estimators, planners and risk managers looking to cut down on schedule and cost variables that can suck valuable time, money and profit out of construction work.
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