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  • 10.1 Thoughts On Estimating

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    This document outlines different methods for estimating project costs, including proportioned, factored, computerized simulations, detailed, and semi-detailed methods. It discusses key elements of developing an accurate estimate such as general and physical breakdowns, cost allocation, adjustments, resolution allowance, escalation, and contingency. The importance of collaboration between estimators and project managers is emphasized to ensure estimates are thorough and realistic.

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    This document outlines different methods for estimating project costs, including proportioned, factored, computerized simulations, detailed, and semi-detailed methods. It discusses key elements of developing an accurate estimate such as general and physical breakdowns, cost allocation, adjustments, resolution allowance, escalation, and contingency. The importance of collaboration between estimators and project managers is emphasized to ensure estimates are thorough and realistic.

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    3 views1 page

    10.1 Thoughts On Estimating

    Uploaded by

    sivavalai
    This document outlines different methods for estimating project costs, including proportioned, factored, computerized simulations, detailed, and semi-detailed methods. It discusses key elements of developing an accurate estimate such as general and physical breakdowns, cost allocation, adjustments, resolution allowance, escalation, and contingency. The importance of collaboration between estimators and project managers is emphasized to ensure estimates are thorough and realistic.

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    Attribution Non-Commercial (BY-NC)
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    of 1

    CHAPTER

    10

    ESTIMATING

    10.1

    10.2 10.3

    10.4

    10.5
    10.6

    10.7 10.8

    Thoughts on Estinlating Estimating Definitions Estimating Methods Proportioned Method 0 Factored Method 0 Cotnpntewcd Simulattons 0 Detailed Method 0 Scmi-Detailed Method Anatonly of an Estimate Gcneral Physical Breakdown Cost Allocation Adjustments Resolution Allowance Escalatton Contingency Checking Criteria and Guideliues Offshore Cost Estimates Overview General Information Specific Information

    10.1 Thoughts on Estimating


    0

    In an estimate, the total cost is always more dependable than the cost of each individual portion.
    As mentioned i n a previous chapter, estimating and project execution planning go hand in hand; neither can be completed without input from the other. It is theProject Manager's responsibility to insure,throughdirect and/or supervisory action, that the crossfeeding takes place and that both the estimate and the execution plan are thorough and realistic.

    An estimate is not complete without project managementlengineering input. The estimatormustreviewthe estimate withaprojectmanager/engineer

    106

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