Project Evaluation and Cost Management Under Uncertainty

It is necessary to evaluate uncertainty so as to improve accountability for project evaluation. Existing researches have examined the ex-post evaluation technique or the evaluation at the time of adoption. However, there is a grate difference between these evaluation values and the value of ex-ante evaluation. Therefore, sensitivity analysis should be carried out to do ax-ante project evaluation.In this paper, a basic consideration for the cost management of project is done from the view of ex-ante evaluation. Methodology of sensitivity analysis in the ex-ante project evaluation so as to evaluate uncertainty is proposed. Numerical simulation of sensitivity analysis is also presented.