Cost-Estimating Online course

Course ID: 189925
Learn How To:

       Manage the cost estimating process throughout the project life cycle

       Incorporate risk and uncertainty into estimates





Cost estimating is a fundamental yet challenging task for contract and project managers. Participants will receive instruction on the cost estimating process, principles and procedures based on best-practices and the GAO Cost Estimating and Analysis Guidebook. In addition, they will learn step-by-step process for developing accurate and realistic project cost estimates that withstand the scrutiny of customers and management and form a baseline for tight financial control. They will also learn how to incorporate risk and uncertainty in their estimates, provide range estimates and manage the cost estimating process throughout the project life cycle.

The integrated case study will give participants an opportunity to apply the cost estimating process to a realistic IT scenario using both time-tested estimating techniques and recent innovative approaches.

Participants will benefit from seasoned advice on avoiding pitfalls, mistakes and inaccuracies that can spell the difference between failure and success in any project.


    * Overview of Cost Estimating
          o Significance of the cost estimating process
          o Cost estimates in project management vs. acquisition
          o Challenges faced by cost estimators
          o Characteristics of a credible cost estimate
          o Types of cost estimates
    * The Cost Estimating Process
          o Public vs. private sector cost estimating process
          o GAO's twelve step cost estimating process
          o Attributes of a successful cost estimating team
          o Cost estimating planning
          o Customer and provider proposal processes
    * Estimating Methodologies
          o Cost elements used in estimating techniques
          o Analogy
          o Regression analysis
          o Vendor quotes or catalog prices
          o Learning curves
          o PERT estimates and distributions
          o Top-down estimating technique
          o Cost factor estimating
          o Bottoms-up (detailed) estimating
          o Special estimating issues
    * Cost Risk and Uncertainty
          o Factors contributing to program risk and uncertainty
          o ESI's Risk Management Model
          o Sensitivity analysis
          o Changes in cost estimate uncertainty
          o S-Curve
    * Validating and Documenting the Estimate
          o Mapping GAO's twelve steps to characteristics of a high-quality estimate
          o Validating the cost estimate
          o Documenting the cost estimate
    * Linking the Credible Cost Estimate to the EVM system
          o Managing program/project costs
          o Using the cost estimate as the foundation of EVM analysis
          o Steps in the EVM process
          o Risk factors warranting EVM surveillance
          o Common indicators of poor program performance
          o Rebaselining

The course you have selected has limited or no upcoming scheduled training dates!

Please browse similar courses or request more information for assistance. TrainUp.com's training support team will respond within one business day with relevant offerings.

Live Contract Management courses

Course ID Title # of Events Duration Type Price More Info
245529 Decision-Making & Problem-Solving Skills with Analytical Thinking 14 1 day C $199
245592 Managing Multiple Priorities & Projects 61 1 day C $199
189921 Contract Management Principles and Practices 5 3 days CV $1,995
189151 Critical Thinking 19 2-4 days CV $2,345
189995 Risk Management 12 3 days CV $1,995
189264 Negotiating to Win 11 3 days C $2,345
189959 IT Risk Management 2 3 days CV $1,995
189978 Negotiation Strategies and Techniques 6 5 days C $1,845
231838 Contract Management Principles and Practices 3 4 days V $2,195
189979 Operating Practices in Contract Administration (CON 112) 4 5 days CV $1,845
233434 Business Contracts A to Z 4 1 day C $349
233951 Recognizing and Controlling Requirements Risk 3 3 days V $1,395
237419 Fundamentals of Purchasing for the New Buyer 4 3 days C $2,345
233441 Auto Injury Litigation From Start to Finish 1 1 day C $349
233443 Damages in Personal Injury 7 1 day C $339
190132 Building an Effective Business Case 12 3 days C $2,650
251600 AG09: Agile Procurement 26 2 days C $1,195
251614 BA05: Iterative Risk and Requirements Management 20 2 days C $1,095
251625 BS03: Negotiation Skills for IT Professionals 39 2 days C $1,095
232448 Managing High-Risk Projects 2 1 day V $195
237062 Risk Management 4 4 days V $2,195
232742 Negotiating with Authority 1 1 day V $195
232400 Effective Vendor Management 1 1 day V $395
232100 Key Components of Vendor Contract Close Out 1 1 day V $395
232391 Conducting a High-Quality Risk Workshop 1 1 day V $395
232713 Writing the Statement of Work (SOW) 1 1 day V $395
246422 Managing Risk in Information Systems 3 5 days V $3,895
251809 Oracle Primavera Risk Analysis - Pertmaster (SP) 3 2 days C $650
189973 Managing Performance-Based Service Awards 1 3 days C $1,445
189953 Government Contract Law 1 5 days C $1,845
187276 Training Seminar: Value-Added Negotiating 6 2 days C $2,290
189975 Market Research and Commercial Item Acquisition 1 2 days C $1,345
237305 Commercial Leases: Negotiating Key Provisions 2 1 day C $339
233501 Music Law 101 3 1 day C $349
243668 Project Management for Contracting Professionals 1 5 days C $1,845
253278 Ironclad Indemnification Provisions in Business Contracts 2 1 day C $349
246676 Drafting and Negotiating Business Contracts 1 1 day C $349
253301 Negotiating Contracts on Tribal Lands 1 1 day C $329
243351 Project Management Tools for Engineers: Building a Customer Centric Project Scope 1 1 day C $395
247423 Before Risk Becomes Reality: What's Your Plan? 2 1 day C $395
251919 Managing Risk & Uncertainty in Conventional Opportunities 1 2 days C $1,800