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Uncertainty

In: Project Analysis in Developing Countries

Author

Listed:
  • Steve Curry

    (Asian Development Bank)

  • John Weiss

    (University of Bradford)

Abstract

The techniques of project analysis have been considered so far as if the basic data, which they use, is known with certainty. However, both technical and economic information is used in the form of forecasts, and is subject to considerable uncertainty. It is possible to conceive of different values, based on experience, for the fundamental technical relations in any productive process, and for the project costs and benefits at either financial or economic prices. For most project data, a range of values can be found or predicted, yielding the possibility of different conclusions in the application of project worth measures.

Suggested Citation

  • Steve Curry & John Weiss, 2000. "Uncertainty," Palgrave Macmillan Books, in: Project Analysis in Developing Countries, edition 0, chapter 9, pages 225-237, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37511-6_9
    DOI: 10.1057/9780230375116_9
    as

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