¶ Basic Information
| Key | Value |
|---|---|
| Table | DS07 IPMR Header |
| Severity | MINOR |
| Unique ID | 1070356 |
| Summary | Is the quantitative risk analysis confidence level for cost above 95%? |
| Error message | QRA_CL_cost_pct > .95. |
¶ What causes this error?
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The Data Integrity and Quality (DIQ) check titled "Over-Optimistic Cost QRA" is designed to identify instances where the Quantitative Risk Analysis (QRA) confidence level for cost is above 95%. This check is performed on the data in the DS07 IPMR Header table.
If this DIQ check flags an issue, it means that the QRA confidence level for cost (QRA_CL_cost_pct) in the DS07 IPMR Header table is greater than 0.95 or 95%. This could be due to an overly optimistic cost estimation, which may not accurately reflect the potential risks and uncertainties associated with the project.
The expected value for the QRA confidence level for cost should ideally be less than or equal to 95%. If the value is above this threshold, it may indicate that the cost estimation process is not adequately accounting for potential risks and uncertainties, which could lead to budget overruns or other project management issues.
To resolve this issue, review the cost estimation and risk analysis processes to ensure they are accurately reflecting the potential risks and uncertainties associated with the project. Adjust the QRA confidence level for cost as necessary to bring it below the 95% threshold.
¶ Why do we check this?
This test is being performed on the 'DS07 IPMR Header' table to check if the quantitative risk analysis (QRA) confidence level for cost is above 95%. The test is titled 'Over-Optimistic Cost QRA' and it is designed to alert if the QRA confidence level for cost exceeds 95%.
The importance of this check is to ensure that the cost estimates are not overly optimistic. A QRA confidence level above 95% might indicate that the project cost estimates are too optimistic and may not accurately reflect the potential risks and uncertainties associated with the project. This could lead to underestimation of the project costs and budget overruns in the future.
The severity of this test is marked as 'MINOR', which means it is less severe but still important. It indicates that there might be minor problems or that the data doesn't follow all best practices. It's not a critical error, but it's something that should be reviewed and corrected if necessary to ensure the accuracy and reliability of the project cost estimates.
¶ Code
CREATE FUNCTION [dbo].[fnDIQ_DS07_IPMR_IsQRACostHigh] (
@upload_id int = 0
)
RETURNS TABLE
AS RETURN
(
SELECT
*
FROM
DS07_IPMR_header
WHERE
upload_ID = @upload_ID
AND QRA_CL_cost_pct > .95
)