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The Four Characteristics of a Reliable Cost Estimate 31 Best Practices Related to Developing and Maintaining a Reliable Cost Estimate 32 Cost Estimating Best Practices and the Estimating Process 33 Chapter 4 Step 1: Define the Estimate’s Purpose 38 Scope 38 Including All Costs in a Life Cycle Cost Estimate 39 Survey of Step 1 40
Independent Government Estimates (IGEs), the Government’s best estimate of a contract’s potential costs, are an important tool throughout the process of planning and awarding service contracts.
12 mar 2020 · The guide outlines key steps in the cost estimating process: the purpose, scope, and schedule of a cost estimate; a technical baseline description; a work breakdown structure; ground rules and assumptions; data collection; estimating methodologies; sensitivity and risk analysis; documenting and presenting results; and updating estimates with ...
There are four principal cost estimating methodologies: 1) Comparison/analogy, 2)Parametric, 3) Detailed engineering/bottom up, and 4) Extrapolation from actual costs. Other methodologies include Expert Opinion (from Subject Matter Experts) and catalogue pricing.
From the GAO Cost Estimating and Assessment Guide, there are 12 key steps that are essential to producing high quality cost estimates:3 1. Define the estimate’s purpose 2. Develop an estimating plan 3. Define the Project (or Program) characteristics 4. Determine the estimating structure [e.g., Work Breakdown Structure (WBS)] 5.
2 lis 2017 · The preliminary cost estimate is the estimate that is prepared in advance of a contract award. It may be developed by the government or solicited from a contractor.
Drafted 2005-2007, published in 2009. Outlines GAO’s criteria for assessing cost estimates during audits. Contains 20 chapters with supporting appendixes. Chapters 1-17: developing credible cost estimates and the 12-step cost estimating process for developing high quality cost estimates.
