Untitled-2.jpg
0
0
Subtotal: $0.00

No products in the cart.

Return To Shop
Cost estimating methods and parametric applications

Cost estimating methods and parametric applications

Current Status
Not Enrolled
Price
Free
Get Started

This presentation will briefly discuss the three methods of estimating; analytical, analogous and parametric before studying parametric cost and schedule estimating in more depth. It will consider the benefits of generating parametric estimates early in the project life cycle and other applications of parametric estimating when little information is available.

Parametric cost estimating models are flexible tools which bring engineering, scientific and mathematical rigour to cost and schedule estimating, but great tools alone will not keep programs affordable. Tools must be applied as part of a credible process if estimates and analyses are to be accepted.

Complex major projects suffer from two basic problems: the project sponsors often struggle to specify the project effectively, and project managers find themselves wrestling with unpredicted cost or schedule overruns.

Parametric estimating has been used around the world during the early stages of a project life cycle. It has been used to explore concept options, set early budgets and conduct independent cost estimates (ICE) with minimal information.
This paper will explore the development of this robust cost forecasting solution, its applications and benefits.

Dale Shermon

Head of Planning, Monitoring and Control (PM&C) for QinetiQ

    Scroll to Top
    GBRI is your #1 source for sustainability education with more than 400+ courses to choose from!
    gbri-logo

    Welcome back!

    Login to access your sustainability courses, certificates, badges, community and more!

    GBRI

    Annual Day Sale

    March 15 to April 15 - 2024

    The journey to become a sustainability guru begins here!
    Jeslin Varghese
    gbri-logo

    Sustainability education should not have any boundaries!

    Register now to get started.

    OR REGISTER WITH