ABSTRACT
Often the cost estimations are largely uncertain and lead to decisions that can turn to be inappropriate when the real situation occurs. The presented work intends to overcome this drawback by taking advantage of the richness of information that can be drawn from the use of probabilistic, instead of deterministic calculation methods. Based on the above considerations, the method implements a phased approach that takes account of the high cost uncertainties especially when the programme is in its initial phases. The aim is to find out more reliable estimations that support the decisionmaking process at a certain level of confidence, by using probabilistic calculations of costs.
