eLearning Courses for PRICE Cost Analytics

PredictivePower
for Budget Planning

Organizations are able to build program credibility by taking a more holistic view toward project planning and budgeting. Instead of depending on outside estimates, or spending time and money trying to build bottom-up estimates for a program that might not fit the budget, PRICE® Cost Analytics users are able to generate a quick top-down assessment of how a specific project will impact budgeting—in the first year and over the total lifecycle of the program.

 

The ability to build an estimate and do “what if” drills, translate the estimate into a budget, and distribute the budget to project personnel quickly and proficiently is critical. The PRICE® Cost Analytic Framework is designed, through the use of an integration engine, to facilitate this kind of budget management. The integration engine is the capability that allows the organization to combine its data, budget tools, and cost engine to facilitate this type of agility.

PRICE® TruePlanning® supports business case analysis by giving managers a frame of reference for comparing multiple projects. This ability helps to identify not only the most competitive cost for the project, but also the best value for the overall investment
Budgeting is a critical first step in developing an effective cost management plan. The ability to integrate your specific budget tools with a predictive cost estimation engine, whose output can be tailored to your organization’s cost activity center structure, is a very powerful capability. The requirements to achieve this level of budget management consist of the following:

 

1. Accessing historical budget data which allows you to benchmark the allocation of dollars to specific cost activity centers.
2. A predictive cost estimating capability which can be customized to specifically represent the item for which the budget is being built.
3. The ability to format the output of the estimating system to multiple cost estimation structures customized for a particular management or execution need.

The requirements to achieve this level of budget management consist of the following:

1. Accessing historical budget data which allows you to benchmark the allocation of dollars to specific cost activity centers.
2. A predictive cost estimating capability which can be customized to specifically represent the item for which the budget is being built.
3. The ability to format the output of the estimating system to multiple cost estimation structures customized for a particular management or execution need.