Cost Estimating

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Cost Estimating

• Anne Arendt
• Last update 2/17/06

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Cost Estimating

• Assign the initial cost estimating task to the
  final developers
• Delay finalizing the initial estimate until the
  end of a thorough study
• Anticipate and control user changes
• Monitor the progress of the proposed project
• Evaluate proposed project progress by using
  independent auditors

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Cost Estimating

• Use the estimate to evaluate project personnel
• Computing management should carefully study and
  approve the cost estimate
• Rely on documented facts, standards, and simple
  arithmetic formulas rather than guessing,
  intuition, personal memory, and complex formulas
• Dont rely on cost estimating software for an
  accurate estimate.

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