Parametric cost estimating
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Parametric cost estimating course manual. by Noel E. Hargrove

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Published by Federal Publications Inc. in [Washington, DC] (1120 20th St., NW, Washington 20036) .
Written in English

Subjects:

  • Engineering -- Estimates.

Book details:

Edition Notes

ContributionsApgar, Henry E., Federal Publications Inc.
Classifications
LC ClassificationsTA183 .H37 1986
The Physical Object
Paginationi, 499 p. :
Number of Pages499
ID Numbers
Open LibraryOL2419736M
LC Control Number87103128

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Parametric estimating is an acceptable method, according to the Federal Acquisition Regulation (FAR), for preparing proposals based on cost or pricing data or other types of data. The primary benefit from developing a parametric estimating capability is a more streamlined estimating and proposal process for both Industry and Government.   Parametric estimating uses published data to estimate cost and duration for the entire project as well as individual tasks and deliverables. Here's how.   Parametric modeling takes its name from the parameters (or variables) that are modified during the project simulation process. Parametric models are built from a set of mathematical equations. These may be standard equations found in reference books, proprietary equations developed by consultants or vendors, or some combination of the two. Parametric cost estimating is a method for estimating future proceedings based on analysis of past events and trends. that was difficult to estimate accurately during the strategic estimating process. To address this need, the estimating depart-ment decided to develop a parametric es-timating model based upon actual cost history and on key relationships that could be identified between costs and specific parameters of a process control Size: KB.

brings you the latest images, videos and news from America's space agency. Get the latest updates on NASA missions, watch NASA TV live, and learn about our quest to reveal the unknown and benefit all by: 1. Cost Estimation: Methods and Tools is an excellent reference for academics and practitioners in decision science, operations research, operations management, business, and systems and industrial engineering, as well as a useful guide in support of professional cost estimation training and certification courses for practitioners. The book is Cited by:   Parametric estimating: For projects that involve similar tasks with high degrees of repeatability, use a parametric estimating technique to create highly accurate estimates using unit costs. To use parametric estimating, first divide a project into units of work. WSDOT Cost Estimating Manual for Projects M Page i April Foreword WSDOT’s vision is to be the best at providing a sustainable and integrated multimodal transportation system. Its mission is to provide and support safe, reliable, and cost-effective transportation options to improve livable communities and.

Computer estimating techniques and new estimating software for performing quantity takeoff; The best methods for conceptual estimating as well as the extremely useful topic of parametric estimating; How to allocate the right amounts for profit and contingencies, and other hard-to-find professional guidanceBrand: RSMeans data. 2. “In some cost estimating circles, WBS is also known as the Cost Element Structure (CES). These terms can be interchangeable ”(CEBoK, Module 1 (45 SN)). 3. “Estimate Costs is the process of developing an approximation of the monetary resources needed to complete project activities” (emphasis added, PMBoK Guide, p. ).File Size: KB. located. Square-foot estimating is discussed in Chapter Parametric Estimates Parametric estimates use equations that express the statistical relationship between building parameters and the cost of the building. The building parameters used in the equation may include the gross square footage, number of floors, length of.   There is statistical modeling, or parametric estimating, which also uses historical data of key cost drivers and then calculates what those costs would be if the duration or another aspect of the project is changed. Bottom-Up Estimating. A more granular approach is bottom-up estimating, which uses estimates of individual tasks and then adds.