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Unformatted text preview: 11 Utility function for product development time 12 Allais’s paradox 13 Multiattribute Utility 14 Utility independence Attribute A is utility independent of attribute B, if the decision maker’s preferences for gambles involving different levels of A, but the same level of B, do not depend on the level of attribute B… 15 Utility independence 16 Utility functions for overrun time and project cost 17 The project manager’s utilities for overrun and cost 18 Multiattribute utility function u ( x 1 , x 2 ) = k 1 u ( x 1 ) + k 2 u ( x 2 ) + k 3 u ( x 1 ) u ( x 2 ) where: k 3 = 1– k 1 – k 2 19 Determining k 1 20 Determining k 2 21 The project manager’s decision tree with utilities 22...
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This note was uploaded on 12/08/2011 for the course ENGINEERIN BURD taught by Professor Benni during the Fall '09 term at Uni. Reykjavik.
 Fall '09
 BENNI

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