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All Journal Management Studies and Entrepreneurship Journal (MSEJ)
Soewandi, Hanijanto
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Decision Sciences, Operations Research & Management

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Quantifying Risk in Waterfall Methodology: Case Study at Aplikasi Super Bisono, Indriati Njoto; Arvin, Vincent; Soewandi, Hanijanto
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 5 No. 2 (2024): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v5i2.5664

Abstract

In this paper, we presented a straightforward mathematical model based on Dynamic Programming to answer one of the biggest concern in Waterfall methodology, namely: quantifying risk. Our approach essentially resembles Elmaghraby (2005), but we have more stages and use uniform distributions. With this approach, we can show and quantify the risk in Waterfall methodology so that decision maker can understand the implication of his decision. Dynamic Programming solution also provides a blue print for adjusting decision if the early (previous) stage does not go as planned. A case study at Aplikasi Super with some sensitivity analysis is provided as a numerical illustration.
Co-Authors Arvin, Vincent Indriati Njoto Bisono, Indriati Njoto