Course

Credit Type:
Course
ACE ID:
DAU-0354
Version:
1
Organization's ID:
CBCE 003
Organization:
Defense Acquisition University
Location:
Online
Length:
Approximately 29 hours to complete
Minimum Passing Score:
80
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 2 Business Administration
Description

Objective:

The course objective is to provide an understanding of risk and uncertainty for the the development of credible cost estimates. Given the sporadic use and application of the concepts pertaining to risk and uncertainty; most DoD cost estimates are not as comprehensive and informative as they should be regarding the risks associated with a program. This unrecognized risk and uncertainty is often the source of programmatic cost over-runs and schedule slips. This credential will help our analysts consistently incorporate risk and uncertainty into their cost estimates.

Learning Outcomes:

  • Review probability concepts used in Risk and Uncertainty Analysis.
  • Review Uncertainty Modeling Approaches.
  • Collect Elements of Uncertainty and Risk.
  • Apply Risk for a Risk and Uncertainty Analysis
  • Apply the Uncertainty Simulation Process
  • Communicate Uncertainty Analysis Results
  • Review historical cost and schedule growth trends and causes
  • Review key terms, concepts, and methods used in Risk & Uncertainty Analysis and their importance as it applies to developing sound cost estimates and informed budgets

General Topics:

  • Cost and Schedule Growth Risk and Uncertainty Analysis Overview Probability Distributions Modeling Approaches Point Estimates Uncertainty and Risks Simulation and Correlation Process
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Case Studies
  • Classroom Exercise
  • Computer Based Training
  • Learner Presentations
  • Practical Exercises
  • Performance Rubrics (Checklists)

Methods of Assessment:

  • Case Studies
  • Examinations
  • Performance Rubrics (Checklists)
  • Presentations
Supplemental Materials
Equivalencies

Other offerings from Defense Acquisition University

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