Management Studies and Entrepreneurship Journal (MSEJ)
Vol. 5 No. 2 (2024): Management Studies and Entrepreneurship Journal (MSEJ)

Quantifying Risk in Waterfall Methodology: Case Study at Aplikasi Super

Bisono, Indriati Njoto (Unknown)
Arvin, Vincent (Unknown)
Soewandi, Hanijanto (Unknown)

Article Info

Publish Date
27 Jul 2024

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.

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Journal Info
Management Studies and Entrepreneurship Journal (MSEJ)
Website

Abbrev

msej

Publisher

Yayasan Pendidikan Riset dan Pengembangan Intelektual

Subject

Decision Sciences, Operations Research & Management

Description

Management Studies and Entrepreneurship Journal (MSEJ) is published by Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI) as an information and communication media for practitioners, researchers and academics who are interested in the field of management (Finance, Human Resource, ...