We offer a package of databases, tools and techniques to Estimate your Project, or we can tailor it to suit your needs.
- 📓 Cost Estimating Guides & Procedures
- 🖥 Tailored Estimating Systems & Training
Developing reliable cost estimates has been difficult for owner’s companies across for many years. A Project Cost Estimation Guide helps companies use funds wisely in achieving their missions. A Project Cost Estimation Guide should stress the need for companies to develop processes for making investment decisions that deliver the right amount of funds to the right projects. It also highlights the need for companies to identify risks associated with acquiring capital assets that can lead to cost overruns, schedule delays, and capability shortfalls.
We have worked with our clients to develop suitable Project Cost Estimation Guides to allow them to quickly and accurately develop the cost estimates that they require. While some company guidelines on cost estimating are thorough, other company guidance is limited regarding processes, procedures, and practices for ensuring reliable cost estimates.
The Cost Guides are intended to address that gap. Its purpose is twofold:
- To address generally accepted best practices for ensuring reliable cost estimates (applicable across any industry)
- To provide a detailed link between cost estimating and earned value management (EVM). Providing that link is especially critical, because it demonstrates how both elements are necessary for setting realistic baselines and managing risk. As a result, managers can use the best practices in the Cost Guides to assist them as they assess:
- ✔ Reliability of a program’s cost estimate for budget and decision-making purposes
- ✔ Program’s status using EVM.