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Optimizing the Search for Cost Deviation Sources

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  • Joel S. Demski

    (Stanford University)

Abstract

The typical statistical cost control model determines when a cost deviation is significant, but does not determine the optimum search procedure for restoring the process to a state of control. This search procedure is important because any given cost deviation may be the result of a number of individual causes and each cause requires different search activity. A model is developed (and subsequently extended) for determining the optimum sequence in which to examine the various possible causes.

Suggested Citation

  • Joel S. Demski, 1970. "Optimizing the Search for Cost Deviation Sources," Management Science, INFORMS, vol. 16(8), pages 486-494, April.
    • Handle: RePEc:inm:ormnsc:v:16:y:1970:i:8:p:b486-b494
    DOI: 10.1287/mnsc.16.8.B486
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