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Presents an accessible approach to the cost estimation tools, concepts, and techniques needed to support analytical and cost decisions Written with an easy-to-understand approach, Cost Estimation: Methods and Tools provides comprehensive coverage of the quantitative techniques needed by professional cost estimators and for those wanting to learn about this vibrant career field. Featuring the underlying mathematical and analytical principles of cost estimation, the book focuses on the tools and methods used to predict the research and development, production, and operating and support costs for successful cost estimation in industrial, business, and manufacturing processes. The book begins with a detailed historical perspective and key terms of the cost estimating field in order to develop the necessary background prior to implementing the presented quantitative methods. The book proceeds to fundamental cost estimation methods utilized in the field of cost estimation, including working with inflation indices, regression analysis, learning curves, analogies, cost factors, and wrap rates. With a step-by-step introduction to the practicality of cost estimation and the available resources for obtaining relevant data, Cost Estimation: Methods and Tools also features: Various cost estimating tools, concepts, and techniques needed to support business decisions Multiple questions at the end of each chapter to help readers obtain a deeper understanding of the discussed methods and techniques An overview of the software used in cost estimation, as well as an introduction to the application of risk and uncertainty analysis A Foreword from Dr. Douglas A. Brook, a professor in the Graduate School of Business and Public Policy at the Naval Postgraduate School, who spent many years working in the Department of Defense acquisition environment 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 also appropriate for graduate-level courses in operations research, operations management, engineering economics, and manufacturing and/or production processes.
The process of estimating the cost for the development and delivery of a product, service, or solution can range from simple to highly complex based upon multiple factors including: technology maturity, urgency, geographic location, quantity, quality, availability of resources, hardware and software, systems integration and more. This book provides a comprehensive discussion of cost estimating and contract pricing with extensive use of tools, techniques, and best practices from both the public and private sectors. Key topics of discussion include: Cost estimating methods Cost accounting standards Cost analysis Profit analysis Contract pricing arrangements Price analysis Total ownership cost Earned value management systems
The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. So, you’ve been asked to manage a project. Not sure where to start? Start here. This is your ultimate one-stop, easy-going and very friendly guide to delivering any project of any size. Even if you’re a first time, never-done-it-before, newbie project manager, How to Manage a Great Project will get you from start to finish on budget, on target and on time.
This comprehensive reference explains everything you need to know about taking off and pricing detailed, unit price construction estimates. The book takes you through every step of the estimating process — from receipt of the plans, to detailed quantity takeoffs and pricing, to bidding strategies, and finally, cost control. Also includes electronic estimating forms you can access to download and customize from the book’s own website. Organized for quick reference, the book features: Estimating guidance for every segment of construction by CSI MasterFormat division — the most recognized industry standard for organizing construction projects and costs Checklists and forms to streamline the estimating process What to watch out for — common errors and omissions How to calculate and apply direct and indirect costs, including overhead and profit A complete, fully updated sample cost estimate An appendix with labor hours for common construction operations
In today's hypercompetitive global marketplace, accurate costestimating is crucial to bottom-line results. Nowhere is this moreevident than in the design and development of new products andservices. Among managing engineers responsible for developingrealistic cost estimates for new product designs, the number-onesource of information and guidance has been the Cost Estimator'sReference Manual. Comprehensive, authoritative, and practical, the Manual instructsreaders in the full range of cost estimating techniques andprocedures currently used in the fields of development, testing,manufacturing, production, construction, software, generalservices, government contracting, engineering services, scientificprojects, and proposal preparation. The authors clearly explain howto go about gathering the data essential to preparing a realisticestimate of costs and guide the reader step by step through eachprocedure. This new Second Edition incorporates a decade of progress in themethods, procedures, and strategies of cost estimating. All thematerial has been updated and five new chapters have been added toreflect the most recent information on such increasingly importanttopics as activity-based costing, software estimating,design-to-cost techniques, and cost implications of new concurrentengineering and systems engineering approaches to projects. Indispensable to virtually anyone whose work requires accurate costestimates, the Cost Estimator's Reference Manual will be especiallyvaluable to engineers, estimators, accountants, and contractors ofproducts, projects, processes, and services to both government andindustry. The essential ready-reference for the techniques, methods, andprocedures of cost estimating COST ESTIMATOR'S REFERENCE MANUAL Second Edition Indispensable for anyone who depends on accurate cost estimates forengineering projects, the Cost Estimator's Reference Manual guidesthe user through both the basic and more sophisticated aspects ofthe estimating process. Authoritative and comprehensive, the Manualseamlessly integrates the many functions--accounting, financial,statistical, and management--of modern cost estimating practice.Its broad coverage includes estimating procedures applied to suchareas as: * Production * Software * Development * General services * Testing * Government contracting * Manufacturing * Engineering * Proposal preparation * Scientific projects * Construction This updated and expanded Second Edition incorporates all the mostimportant recent developments in cost estimating, such asactivity-based costing, software estimating, design-to-costtechniques, computer-aided estimating tools, concurrentengineering, and life cycle costing. For engineers, estimators, accountants, planners, and others whoare involved in the cost aspects of projects, the Cost Estimator'sReference Manual is an invaluable information source that will payfor itself many times over.
An easy-to-use tool for estimating heating, ventilating, and air conditioning systems, with up-to-date cost data and estimating examples. This all-in-one reference gives you the accepted standards and procedures for takeoff and pricing HVAC systems, as well as piping, plumbing, and fire protection. Includes all of the major mechanical systems in new building construction. The book will show you how to: Evaluate mechanical plans and specs so you can estimate all cost components Measure, quantify, and perform takeoffs for materials, labor, and equipment Identify and correctly apply direct and indirect costs, including overhead and profit Use forms to improve accuracy and efficiency – with electronic forms now available on the book’s own website Compare materials and methods and select the most cost-effective way to get the job done Train new estimators with clear instructions for estimating the mechanical trades Make the best use of RSMeans Mechanical Cost Data and RSMeans Plumbing Cost Data Organized for easy reference, the book gives you quick access to whatever aspect of mechanical estimating you need. It includes a glossary of mechanical terms and definitions – plus symbols used on mechanical plans, useful formulas, checklists, and conversion tables.
Estimating software development often produces more angst than value, but it doesn't have to. Identify the needs behind estimate requests and determine how to meet those needs simply and easily. Choose estimation techniques based on current needs and available information, gaining benefit while reducing cost and effort. Detect bad assumptions that might sink your project if you don't adjust your plans. Discover what to do when an estimate is wrong, how to recover, and how to use that knowledge for future planning. Learn to communicate about estimates in a healthy and productive way, maximizing advantage to the organization and minimizing damage to the people. In a world where most developers hate estimation and most managers fear disappointment with the results, there is hope for both. It requires giving up some widely held misconceptions. Let go of the notion that "an estimate is an estimate" and estimate for the particular need you, and your organization, have. Realize that estimates have a limited shelf-life, and reestimate frequently if it's important. When reality differs from your estimate, don't lament; mine that disappointment for the gold that can be the longer-term jackpot. Estimate in comparison to past experience, by modeling the work mathematically, or a hybrid of both. Learn strategies for effective decomposition of work and aspects of the work that likely affect your estimates. Hedge your bets by comparing the results of different approaches. Find out what to do when an estimate proves wrong. And they will. They're estimates, after all. You'll discover that you can use estimates to warn you of danger so you can take appropriate action in time. Learn some crucial techniques to understand and communicate with those who need to understand. Address both the technical and sociological aspects of estimation, and you'll help your organization achieve its desired goals with less drama and more benefit. What You Need: No software needed, just your past experience and concern for the outcomes.