PROCESS & QUALITY ASSURANCE

摘要

The project cost estimate is a key element to support project activities: it provides support to the decision making process, input for economic analysis and budget evaluation; nevertheless it is often poorly prepared. This article discusses how to improve cost estimate quality, based on the idea that cost estimate quality can be improved if good estimating practices are built-in from the start of the cost estimate development process and if principles like traceability, transparency and consistency are applied. Therefore, this article proposes a cost estimating process based on a quality approach which foresees planning, execution, verification and improvement stages. Key elements of the proposed process that enhance cost estimate predictability include well defined steps for cost estimate preparation, typical estimate documents and check point/review events. This article was first presented as EST.612 at the 2011 AACE Annual Meeting.