Location
Online
Event Website
https://hicss.hawaii.edu/
Start Date
3-1-2022 12:00 AM
End Date
7-1-2022 12:00 AM
Description
An ensemble model for aggregating weighted risks and costs is tested in a Monte Carlo simulation with Tomlinson's 22 lower-order risk factors for GIS implementations. The basic assumption of the model is that practitioners incorrectly manipulate and transpose risk and cost factors contributing to less than optimum implementation results. Such examples include: (1) violation of Lusser's probability product law, (2) non-use of Galton's 50th percentile/median as the "wisdom of the crowd" estimate, (3) incorrect use of weighting (if at all), (4) dubious ranking of lower-order risk factor importance and (5) the inability to automatically predict a Bayesian posterior adjusted cost projection. The ensemble model corrects for these and other errors. Life data analysis and reliability functions from reliability engineering are built into the model for further enhancement of results.
Building GIS Platforms for Spatial Business: A Focus on the Science of Maximizing Location Intelligence Benefits Through Risk/Cost Management
Online
An ensemble model for aggregating weighted risks and costs is tested in a Monte Carlo simulation with Tomlinson's 22 lower-order risk factors for GIS implementations. The basic assumption of the model is that practitioners incorrectly manipulate and transpose risk and cost factors contributing to less than optimum implementation results. Such examples include: (1) violation of Lusser's probability product law, (2) non-use of Galton's 50th percentile/median as the "wisdom of the crowd" estimate, (3) incorrect use of weighting (if at all), (4) dubious ranking of lower-order risk factor importance and (5) the inability to automatically predict a Bayesian posterior adjusted cost projection. The ensemble model corrects for these and other errors. Life data analysis and reliability functions from reliability engineering are built into the model for further enhancement of results.
https://aisel.aisnet.org/hicss-55/li/data_analytics/2