• Predictive Analytics for Improved Cost Management  



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In my last blog we considered nine characteristics of a credible cost estimate and identified the ones in which shortfalls were most frequent in my experience as a senior reviewer of Army cost estimates.  In this blog, I will address the clear identification of task, and thoughts to reduce the chance of shortfalls of this characteristic. Clear identification of task, as described in the March 2009 Government Accountability Office (GAO) Cost Estimating and Assessment Guide.  Estimator must be provided with the system description, ground rules and assumptions, and technical and performance characteristics Estimate's ...
Whether a new cost estimator or a seasoned professional cost estimator, we all need to continuously seek to improve the credibility of our cost estimates.  I can think of no better reference to assess our cost estimates than the March 2009 Government Accountability Office (GAO) Cost Estimating and Assessment Guide.  The basic characteristics of effective estimating from the guide are listed below, were first published in 1972, and have stood the test of time as the yard stick for measuring the credibility of our cost estimates done for both government and industry. 1.       Clear identification of task ...