Multisensitive LCC Analysis with Estimates (1997)
Zigmund M. Bluvband, Ph.D., ALD Ltd., Israel
Cost-effectiveness is an evaluation involving both performance and cost. The best performing system may not be the most cost effective one. Therefore, when analyzing the acquisition of any complex system under uncertainty, thorough sensitivity analysis is required to generate robust results. The methodology presented in this paper demonstrates how to evaluate cost-effectiveness for a system that involves both measurable and assessed characteristics for better decision making.