Cost Estimating Fundamentals

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Overview


This training provides a detailed overview of MSC’s policies and practices for developing independent government cost estimates for MSC’s performance-like work items, including classification of cost estimates, cost estimating terminology, cost estimating process (definition, planning, data collection, analysis, estimate formulation, third party review, and estimate finalization), cost estimating guides, data sources, non-parametric cost estimating techniques (analogy, expert opinion, cost factors, extrapolation form actuals, and bottom-up engineering approach), and parametric cost estimating techniques (rules of thumb, descriptive statistics, regression analysis, learning curve analysis, and  risk analysis).

Recommended prerequisites: Work Item Development Fundamentals

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