by Ed Merriman
| September 26, 2014
Parametric cost estimates provide high quality, defendable estimates early in a project’s life cycle. This makes them ideal when producing bid and proposals. The nature of parametric cost estimates, however, requires the results of the estimate to be framed in terms of specific CERs and Activities and Resources. It is common for an organization to have a more granular set of Resources than the ones used to support the CERs. One approach to resolving this issue would be to use the TrueMapper application from PRICE Systems to map TruePlanning Resources to a more granular set of Resources.
One to Many – Resource to Resources
PRICE’s TrueMapper application allows parametric estimates to ‘speak the language’ of an organization. Through TrueMapper it is possible move from the parametric model’s Resources to the organization’s Resources. As seen above, it is possible to create a WBS that works with TrueMapper and contains an organization’s Resources.
Once a WBS with an organization’s Resources has been loaded into TrueMapper though a WBS, it is possible to start splitting the hours attributed to the parametric estimate’s Resources to the Resources found in an organization. Figure 2 below shows a possible percent breakout for the sample estimate seen in Figure 1.
Figure 3 shows the hours assigned to the organization’s resources that result from the mapping assignments.
The results of the mapping can then be exported to Excel. In Figure 4 the resource data has been exported and then the total hours for each of the organization’s resources has had unit costs applied.
Some organizations may choose to skip applying unit costs as they use other software packages to manage their bid and proposals.