In this discussion paper, we explore different ways to assess the value of verification and validation (V&V) of engineering models. We first present a literature review on the value of V&V and then use value chains and decision trees to show how value can be assessed from a decision maker's perspective. In this context, the value is what the decision maker is willing to pay for V&V analysis with the understanding that the V&V results are uncertain. The 2014 Sandia V&V Challenge Workshop is used to illustrate these ideas.
Why Do Verification and Validation?
Manuscript received December 4, 2015; final manuscript received January 21, 2016; published online February 19, 2016. Editor: Ashley F. Emery.
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Hu, K. T., and Paez, T. L. (February 19, 2016). "Why Do Verification and Validation?." ASME. J. Verif. Valid. Uncert. March 2016; 1(1): 011008. https://doi.org/10.1115/1.4032564
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