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Services Cost Analysis Under Risk

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Author Info

  • Golea Pompiliu

    ()
    ("Dimitrie Cantemir" Christian University)

  • Balogh Petru

    ()
    ("Dimitrie Cantemir" Christian University)

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    Abstract

    In this paper, an integrated approach based on Monte Carlo simulation and Six Sigma methodology is used to analyze the risk associated with a services cost. Monte Carlo simulation is applied to understand the variability in total cost caused by the probabilistic cost items. By Six Sigma methodology the range of variation of the service cost can be reduced by operating on the input factors with the greatest impact on total cost to cover the variation of 6s between the limits that were established in the design phase of Six Sigma.

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumate2011p1.pdf
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    Bibliographic Info

    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

    Volume (Year): XI (2011)
    Issue (Month): 1 (May)
    Pages: 835-838

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    Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:835-838

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    Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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    Related research

    Keywords: Services cost risk; Six Sigma; Monte Carlo simulation;

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