This is an example presented in the book “Data Mining and Business Analytics with R”, with some useful basic graphs that can be reused for other sets of similar data. Code and Data are saved in Github link
This is a summary of example 2 in Chapter 2 of the book “Data Mining and Business Analytics with R”. The post keeps the original code with some polishing syntax for better plotting, particularly using ggplot2 package and gridExtra.
Earned Value Management (EVM) is a widely used method, if not to say, a imperative method in project management. Without the EVM, the Project Managers and stakeholders (PM) cannot track and monitor the Progress and Schedule, cannot understand the causes of problems and delays.
This post describes a generic approach on the computation of Net Present Value (NPV) and Life Cycle Cost estimation (LCC) for Preventive Intervention (PI) on pumps (e.g. centrifugal pumps) when decision makers are uncertain on, or do not have a rich set of data on failure of pump components.