Government Accountability Office

Project award process and cost overrun control.

The government has a problem with project cost overruns. Many times a project is awarded for a fixed cost. Then the contractor has cost overruns during the project that the government has to pay to close the project. The purposed plan is to use @Risk decision process for predicting the total cost of the project with cost overrun precentage factored in the total cost. This process will give the government a risk assement of the contractor prior to contract project award.

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Idea No. 10395