Cost Estimating Overview

• Cost estimating terms and key concepts
• Major challenges associated with cost estimating
• Iterative nature of cost estimating
• Estimating with different product life cycles

Getting Started

• Prerequisites to the estimating process
• Multiple Work Breakdown Structure (WBS) types
• Creating a deliverable-based WBS
• Resource breakdown structures (RBS)

Estimating Techniques

• Units of measure
• Estimating techniques for developing cost estimates
• Pros and cons of each estimating technique
• Creating cost estimates using the different estimating techniques

Finalizing the Estimate

• Ten-step cost estimating process
• Techniques to clarify the estimating request and scope of work
• Accounting for individual characteristics of resources
• Documenting an estimate to ensure clear understanding of the cost estimate, assumptions, accuracy, confidence, etc.
• Five tips that can improve estimating