What is involved in Cost Estimation
Find out what the related areas are that Cost Estimation connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Cost Estimation thinking-frame.
How far is your company on its Cost Estimation journey?
Take this short survey to gauge your organization’s progress toward Cost Estimation leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Cost Estimation related domains to cover and 180 essential critical questions to check off in that domain.
The following domains are covered:
Cost Estimation, Cost estimate, AACE International, American Society of Professional Estimators, Best practices, Building estimator, Chemical plant cost indexes, Construction Management Association of America, Construction Specifications Institute, Construction bidding, Construction estimating software, Construction management, Cost contingency, Cost database, Cost engineering, Cost escalation, Cost estimation in software engineering, Cost overrun, General contractor, Glossary of construction cost estimating, Glossary of project management, Indirect costs, Industrial engineering, International Standard Book Number, Line items, Manufacturing cost, Order of magnitude, Outline of project management, Parametric estimating, Performance bond, Pre-construction services, Project Management Institute, Project cost management, Project management, Project management software, Quality assurance, Quality control, Quality costs, Quantity surveyor, Reserve study, Scientific Wild-Ass Guess, Software project management, Three-point estimation, Total cost management, Vendor bid analysis, Waste management:
Cost Estimation Critical Criteria:
Analyze Cost Estimation strategies and simulate teachings and consultations on quality process improvement of Cost Estimation.
– How do risk analysis and Risk Management inform your organizations decisionmaking processes for long-range system planning, major project description and cost estimation, priority programming, and project development?
– Does Cost Estimation analysis show the relationships among important Cost Estimation factors?
– Meeting the challenge: are missed Cost Estimation opportunities costing us money?
– Have you identified your Cost Estimation key performance indicators?
Cost estimate Critical Criteria:
Facilitate Cost estimate projects and inform on and uncover unspoken needs and breakthrough Cost estimate results.
– How do you incorporate cycle time, productivity, cost control, and other efficiency and effectiveness factors into these Cost Estimation processes?
– How do we know that any Cost Estimation analysis is complete and comprehensive?
– What are the Key enablers to make this Cost Estimation move?
AACE International Critical Criteria:
Add value to AACE International results and proactively manage AACE International risks.
– Who will be responsible for making the decisions to include or exclude requested changes once Cost Estimation is underway?
– Who needs to know about Cost Estimation ?
American Society of Professional Estimators Critical Criteria:
Look at American Society of Professional Estimators risks and optimize American Society of Professional Estimators leadership as a key to advancement.
– What are our needs in relation to Cost Estimation skills, labor, equipment, and markets?
– How to deal with Cost Estimation Changes?
Best practices Critical Criteria:
Do a round table on Best practices outcomes and report on setting up Best practices without losing ground.
– What are our best practices for minimizing Cost Estimation project risk, while demonstrating incremental value and quick wins throughout the Cost Estimation project lifecycle?
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Cost Estimation process?
– What ITIL best practices, security and data protection standards and guidelines are in use by the cloud service provider?
– What are the best practices for software quality assurance when using agile development methodologies?
– Does your organization have a company-wide policy regarding best practices for cyber?
– What are some best practices for gathering business intelligence about a competitor?
– What are the best practices in knowledge management for IT Service management ITSM?
– What best practices in knowledge management for Service management do we use?
– What tools and technologies are needed for a custom Cost Estimation project?
– What best practices are relevant to your service management initiative?
– What are the best practices for implementing an internal site search?
– Are there any best practices or standards for the use of Big Data solutions?
– What are the best practices for Risk Management in Social Media?
– What are some best practices for managing business intelligence?
– What best practices are relevant to your itsm initiative?
– Do we adhere to best practices interface design?
– What best practices are relevant to your ITSM initiative?
Building estimator Critical Criteria:
Read up on Building estimator management and learn.
– How do we measure improved Cost Estimation service perception, and satisfaction?
– Is Cost Estimation Required?
Chemical plant cost indexes Critical Criteria:
See the value of Chemical plant cost indexes engagements and gather practices for scaling Chemical plant cost indexes.
– Does Cost Estimation create potential expectations in other areas that need to be recognized and considered?
– In what ways are Cost Estimation vendors and us interacting to ensure safe and effective use?
Construction Management Association of America Critical Criteria:
Paraphrase Construction Management Association of America governance and tour deciding if Construction Management Association of America progress is made.
– How do we ensure that implementations of Cost Estimation products are done in a way that ensures safety?
– What are all of our Cost Estimation domains and what do they do?
– Who will provide the final approval of Cost Estimation deliverables?
Construction Specifications Institute Critical Criteria:
Tête-à-tête about Construction Specifications Institute governance and arbitrate Construction Specifications Institute techniques that enhance teamwork and productivity.
– How is the value delivered by Cost Estimation being measured?
Construction bidding Critical Criteria:
Adapt Construction bidding governance and diversify disclosure of information – dealing with confidential Construction bidding information.
– How can the value of Cost Estimation be defined?
– What threat is Cost Estimation addressing?
Construction estimating software Critical Criteria:
Familiarize yourself with Construction estimating software results and document what potential Construction estimating software megatrends could make our business model obsolete.
– Think about the people you identified for your Cost Estimation project and the project responsibilities you would assign to them. what kind of training do you think they would need to perform these responsibilities effectively?
– How can we improve Cost Estimation?
Construction management Critical Criteria:
Interpolate Construction management risks and get out your magnifying glass.
– Think about the kind of project structure that would be appropriate for your Cost Estimation project. should it be formal and complex, or can it be less formal and relatively simple?
– What is our formula for success in Cost Estimation ?
Cost contingency Critical Criteria:
Experiment with Cost contingency outcomes and reduce Cost contingency costs.
– Do we monitor the Cost Estimation decisions made and fine tune them as they evolve?
Cost database Critical Criteria:
Confer re Cost database issues and suggest using storytelling to create more compelling Cost database projects.
– Does Cost Estimation systematically track and analyze outcomes for accountability and quality improvement?
– Do the Cost Estimation decisions we make today help people and the planet tomorrow?
– How do we manage Cost Estimation Knowledge Management (KM)?
Cost engineering Critical Criteria:
Distinguish Cost engineering projects and slay a dragon.
– Does Cost Estimation analysis isolate the fundamental causes of problems?
– How can skill-level changes improve Cost Estimation?
– What will drive Cost Estimation change?
Cost escalation Critical Criteria:
Consolidate Cost escalation tasks and integrate design thinking in Cost escalation innovation.
– What are your key performance measures or indicators and in-process measures for the control and improvement of your Cost Estimation processes?
– How can we incorporate support to ensure safe and effective use of Cost Estimation into the services that we provide?
– How important is Cost Estimation to the user organizations mission?
Cost estimation in software engineering Critical Criteria:
Think about Cost estimation in software engineering quality and look at the big picture.
– what is the best design framework for Cost Estimation organization now that, in a post industrial-age if the top-down, command and control model is no longer relevant?
– What are the usability implications of Cost Estimation actions?
– Are we Assessing Cost Estimation and Risk?
Cost overrun Critical Criteria:
Examine Cost overrun decisions and innovate what needs to be done with Cost overrun.
– How will we insure seamless interoperability of Cost Estimation moving forward?
– What are the long-term Cost Estimation goals?
General contractor Critical Criteria:
Adapt General contractor decisions and adopt an insight outlook.
– Do those selected for the Cost Estimation team have a good general understanding of what Cost Estimation is all about?
– What are the success criteria that will indicate that Cost Estimation objectives have been met and the benefits delivered?
Glossary of construction cost estimating Critical Criteria:
Paraphrase Glossary of construction cost estimating projects and pioneer acquisition of Glossary of construction cost estimating systems.
– Who will be responsible for deciding whether Cost Estimation goes ahead or not after the initial investigations?
Glossary of project management Critical Criteria:
Start Glossary of project management planning and optimize Glossary of project management leadership as a key to advancement.
– What sources do you use to gather information for a Cost Estimation study?
– How to Secure Cost Estimation?
Indirect costs Critical Criteria:
Debate over Indirect costs projects and define what our big hairy audacious Indirect costs goal is.
– How are the subunit s indirect costs allocated to products?
– Is there any existing Cost Estimation governance structure?
– How are a subunit s indirect costs allocated to products?
– How do we go about Securing Cost Estimation?
Industrial engineering Critical Criteria:
Conceptualize Industrial engineering issues and define what do we need to start doing with Industrial engineering.
– Is the Cost Estimation organization completing tasks effectively and efficiently?
International Standard Book Number Critical Criteria:
Disseminate International Standard Book Number tactics and perfect International Standard Book Number conflict management.
– What are the disruptive Cost Estimation technologies that enable our organization to radically change our business processes?
– What is the source of the strategies for Cost Estimation strengthening and reform?
Line items Critical Criteria:
Have a session on Line items tactics and probe using an integrated framework to make sure Line items is getting what it needs.
– What are the record-keeping requirements of Cost Estimation activities?
– Can Management personnel recognize the monetary benefit of Cost Estimation?
Manufacturing cost Critical Criteria:
Drive Manufacturing cost tasks and differentiate in coordinating Manufacturing cost.
– Who is responsible for ensuring appropriate resources (time, people and money) are allocated to Cost Estimation?
– What are the top 3 things at the forefront of our Cost Estimation agendas for the next 3 years?
– What new services of functionality will be implemented next with Cost Estimation ?
Order of magnitude Critical Criteria:
Refer to Order of magnitude governance and pay attention to the small things.
– How do you determine the key elements that affect Cost Estimation workforce satisfaction? how are these elements determined for different workforce groups and segments?
– Are we making progress? and are we making progress as Cost Estimation leaders?
– How much does Cost Estimation help?
Outline of project management Critical Criteria:
Focus on Outline of project management governance and question.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Cost Estimation process. ask yourself: are the records needed as inputs to the Cost Estimation process available?
– How do senior leaders actions reflect a commitment to the organizations Cost Estimation values?
Parametric estimating Critical Criteria:
Wrangle Parametric estimating planning and simulate teachings and consultations on quality process improvement of Parametric estimating.
Performance bond Critical Criteria:
Cut a stake in Performance bond risks and assess what counts with Performance bond that we are not counting.
– How will you know that the Cost Estimation project has been successful?
Pre-construction services Critical Criteria:
Chat re Pre-construction services adoptions and explore and align the progress in Pre-construction services.
– Can we add value to the current Cost Estimation decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– What are the short and long-term Cost Estimation goals?
Project Management Institute Critical Criteria:
Examine Project Management Institute results and interpret which customers can’t participate in Project Management Institute because they lack skills.
– What are your most important goals for the strategic Cost Estimation objectives?
Project cost management Critical Criteria:
Trace Project cost management outcomes and describe the risks of Project cost management sustainability.
– Are the procurement procedures such that undue delays can be avoided?
– What is meant by an integrative approach to project management?
– Project Team: Who will be on the project and for which dates?
– Does your organization have a Project Management Office?
– What steps are required so as to launch a new Product?
– What type(s) of PMO does your organization have?
– What is Turnkey Operation in Project Management?
– Is there any support in the business or in IT?
– Who will be reporting to whom and how often?
– What s the status of the documentation?
– What is the duty of a Project Manager?
– When is a project completed?
– Where Do Changes Come From?
– How much GDP does it drive?
– Is there any justification?
– How can you employ it?
– What should be done?
– How is it justified?
– Why is it required?
Project management Critical Criteria:
Apply Project management goals and point out improvements in Project management.
– Troubleshooting – are problems related to what is actually changing (the change), to the management of tasks and resources to make the change happen (project management) or to issues relating to employee engagement, buy-in and resistance (Change Management)?
– First iteration. The plan for the team is then a list of prioritized features, and who is to perform the tasks of developing the features is decided on during the iteration. What is important in the kick-off meeting to enable feedback and learning?
– With agile processes promoting the concept of self-directed teams, is there room for the conventional project manager or does this role also need to evolve to suit the principles of the new paradigm?
– How much and which way a traditional project manager has to change his/her management style or way of working in order to be an agile project manager?
– Can we say that the traditional project team is not self-organized, no matter how complex the project is, and what level of team we are discussing?
– What additional schedule (and cost) would be required if they continued at historical or any other lower burn rates?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– Which individual role is responsible for all aspects of the delivery of the solution?
– What happens to the function of the business analysis in user story development?
– What is important in the kick-off meeting to enable feedback and learning?
– Will reporting methods be different for agile versus traditional projects?
– How will jettisoning certain processes and structure impact the business?
– How do organizations adapt to a radically new framework such as agile?
– Can Agility Work With a Waterfall Project Management Process in our Setting?
– How do we Improve Cost Estimation service perception, and satisfaction?
– How can Trello be used as an Agile project management tool?
– What is the role of Project Management Body of Knowledge?
– Velocity -how fast are we going?
Project management software Critical Criteria:
Boost Project management software management and catalog what business benefits will Project management software goals deliver if achieved.
– What role does communication play in the success or failure of a Cost Estimation project?
– Is Cost Estimation Realistic, or are you setting yourself up for failure?
– Why are Cost Estimation skills important?
Quality assurance Critical Criteria:
Co-operate on Quality assurance goals and observe effective Quality assurance.
– What are your results for key measures or indicators of the accomplishment of your Cost Estimation strategy and action plans, including building and strengthening core competencies?
– How does the company create and implement a strategic plan to achieve a vision for the future, enhance competitive position, and improve overall performance?
– Are software Quality Assurance tests a part of the general hardware acceptance test on the customers machine before it leaves the factory?
– Have we established unit(s) whose primary responsibility is internal audit, Quality Assurance, internal control or quality control?
– Does the Quality Assurance process include a review of adherence to it policies, procedures and standards?
– Are Quality Assurance records stored in folders, binders, or other suitable protection?
– How does improper or incomplete documentation affect disciplinary actions?
– Does the Quality Assurance record center contain the selected documents?
– Are Quality Assurance records marked or labelled to ensure traceability?
– Were adequate human factors considered in the design of the equipment?
– What are your key indicators that you will measure, analyze and track?
– How does your qa plan measure areas of opportunities for improvement?
– Is the system or component adequately labeled for ease of operation?
– How do we Identify specific Cost Estimation investment and emerging trends?
– How will you measure your qa plan effectiveness?
– Who provides training for any new protocol?
– Is the system or component user friendly?
– Are standardized tests available?
– How are complaints tracked?
Quality control Critical Criteria:
Drive Quality control quality and triple focus on important concepts of Quality control relationship management.
– Is the Quality Assurance function recognized to be different from implicit and continuous quality control during fabrication, in that it is discrete, explicit following production, and ignores the sequence or nature of the fabrication steps or processes?
– Do we conduct regular data quality audits to ensure that our strategies for enforcing quality control are up-to-date and that any corrective measures undertaken in the past have been successful in improving Data Quality?
– Among the Cost Estimation product and service cost to be estimated, which is considered hardest to estimate?
– What policies do we need to develop or enhance to ensure the quality control of data gathered?
– What quality control measures will be used to ensure the program progresses as planned?
– Do we regularly review and update its Data Quality control procedures?
– Are regulatory inspections considered part of quality control?
– What are the Essentials of Internal Cost Estimation Management?
– What about quality control? Defects?
– What is your quality control system?
– What about quality control?
Quality costs Critical Criteria:
Investigate Quality costs results and adjust implementation of Quality costs.
– Will Cost Estimation have an impact on current business continuity, disaster recovery processes and/or infrastructure?
– Who are the people involved in developing and implementing Cost Estimation?
Quantity surveyor Critical Criteria:
Explore Quantity surveyor governance and spearhead techniques for implementing Quantity surveyor.
– Is Cost Estimation dependent on the successful delivery of a current project?
Reserve study Critical Criteria:
Analyze Reserve study adoptions and diversify disclosure of information – dealing with confidential Reserve study information.
– What are the key elements of your Cost Estimation performance improvement system, including your evaluation, organizational learning, and innovation processes?
– What prevents me from making the changes I know will make me a more effective Cost Estimation leader?
Scientific Wild-Ass Guess Critical Criteria:
Jump start Scientific Wild-Ass Guess quality and report on the economics of relationships managing Scientific Wild-Ass Guess and constraints.
– Do Cost Estimation rules make a reasonable demand on a users capabilities?
Software project management Critical Criteria:
Study Software project management quality and summarize a clear Software project management focus.
– Do you monitor the effectiveness of your Cost Estimation activities?
Three-point estimation Critical Criteria:
Reorganize Three-point estimation failures and catalog what business benefits will Three-point estimation goals deliver if achieved.
– What is the purpose of Cost Estimation in relation to the mission?
Total cost management Critical Criteria:
Confer re Total cost management goals and achieve a single Total cost management view and bringing data together.
– Are accountability and ownership for Cost Estimation clearly defined?
– What are current Cost Estimation Paradigms?
Vendor bid analysis Critical Criteria:
Chart Vendor bid analysis adoptions and stake your claim.
– How can you measure Cost Estimation in a systematic way?
Waste management Critical Criteria:
Reason over Waste management management and revise understanding of Waste management architectures.
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Cost Estimation Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Cost Estimation External links:
AASHTOWare Project Software Cost Estimation – New Jersey
Easy Bus Rental Cost Estimation Tool | Cost Calculator
Specstar – Spec Writing and Cost Estimation
AACE International External links:
The National Capital Section of AACE International
About Us | AACE International
2018 AACE International Competitive Scholarship Application
American Society of Professional Estimators External links:
ASPE National – American Society of Professional Estimators
American Society of Professional Estimators – About Us
Best practices External links:
ALTA – Best Practices
Best Practices – FNTG
Best Practices – Independence Title
Building estimator External links:
Building Estimator – AbeBooks
The building estimator’s guide, (Book, 1928) [WorldCat.org]
The Building Estimator’s Reference Book
Chemical plant cost indexes External links:
chemical plant cost indexes chile – galogistics.in
Chemical plant cost indexes – Revolvy
https://update.revolvy.com/topic/Chemical plant cost indexes
chemical plant cost indexes chile – sahayata.co.in
Construction Management Association of America External links:
Construction Management Association of America – …
CMAAAZ – Construction Management Association of America
Construction Specifications Institute External links:
My Account – Construction Specifications Institute
Construction Specifications Institute – Prometric
Construction bidding External links:
Construction bidding for profit (eBook, 1979) [WorldCat.org]
Construction estimating software External links:
Plexxis Construction Estimating Software
Clear Estimates | Construction Estimating Software
TurboBid Construction Estimating Software – TurboBid
Construction management External links:
Kraus-Anderson | Minnesota Construction Management
Construction Management Software Tools | Textura
Construction Management Software – e-Builder
Cost contingency External links:
How Cost Contingency is Calculated? – Project Control …
Cost database External links:
RSMeans Online Construction Cost Database
Capital Cost Database | FTA
NREL Data: Distribution System Upgrade Unit Cost Database
Cost engineering External links:
Cost Engineering – Official Site
Cost Engineering – Headquarters U.S. Army Corps of …
Project Estimation Techniques | Cost Engineering
Cost escalation External links:
Cost escalation in nuclear power (Book, 1978) [WorldCat.org]
Cost overrun External links:
Cost Overrun Optimism: Fact or Fiction
Cost Overrun Essays – ManyEssays.com
General contractor External links:
Job Description of General Contractors | Chron.com
[PDF]General Contractor Sworn Statement – Frontier Title
http://www.frontiertitle.org/pdfs/General Contractor Sworn Statement.pdf
Glossary of construction cost estimating External links:
Glossary of construction cost estimating – PlanOpedia
View topic – Glossary of construction cost estimating link
Glossary of project management External links:
PMI – Glossary of Project Management terms
Indirect costs External links:
Examples of Direct and Indirect Costs | Chron.com
Admission: Direct and Indirect Costs | Beloit College
Industrial engineering External links:
Industrial Engineering – Lamar University
Production system | industrial engineering | Britannica.com
EPIC Systems Inc | Top Industrial Engineering Companies
International Standard Book Number External links:
ISBN: International Standard Book Number for Self-Publishing
International Standard Book Number – Quora
ISBN – The International Standard Book Number
Line items External links:
FAR Subpart 4.10. Uniform Use of Line Items – Acquisition
Residential Electric Rates & Line Items – Austin Energy
[PDF]PO Unit of Measure (UOM) for Line Items – Welcome to …
Manufacturing cost External links:
Manufacturing Cost Models for Estimating
Manufacturing Cost Definition • The Strategic CFO
[PDF]Manufacturing Cost Analysis – CPSC.gov
Order of magnitude External links:
What is Rough Order Of Magnitude (ROM)? definition and …
[PDF]Sample Rough Order of Magnitude – wakeleellc.com
What is order of magnitude? – Definition from WhatIs.com
Parametric estimating External links:
Parametric Estimating_Nonlinear Regression – DAU Home
[PDF]An Introduction to Parametric Estimating
Project Cost & Parametric Estimating Software by EcoSys
Performance bond External links:
[PDF]FAITHFUL PERFORMANCE BOND – Ventura, CA
Performance Bond – JW Surety Bonds
Surety Bond | Performance Bond | Absolute Surety
Pre-construction services External links:
Pre-Construction Services — American Direct
Pre-Construction Services – EFCO Corporation
Pre-Construction Services | Sobieski | DE, MD, PA, NJ
Project Management Institute External links:
Project Management Institute – Official Site
Project Management Institute Pittsburgh Chapter – Home Page
PMI – Project Management Institute
Project cost management External links:
[PDF]Project Cost Management
PMP 7: Project Cost Management Flashcards | Quizlet
Project Cost Management Tips: Keeping Your Project …
Project management External links:
CCRS | Project Management Institute
Project Management Institute – Official Site
Project management software External links:
Huddle | Team Collaboration & Project Management Software
monday – Project management software teams actually love
Quality assurance External links:
Think of quality assurance as before the goods or services have been produced and quality control is during the production of the goods or services. The former ensures that there will be quality and the latter controls the execution to ensure that there was quality.
[PDF]TITLE: QUALITY ASSURANCE PROVISIONS – …
Quality assurance titles Jobs – Yakaz
Quality control External links:
Quality Control | Food and Nutrition Service
[PDF]6 QUALITY CONTROL PROCEDURES – IN.gov
Quality costs External links:
Principles of Quality Costs, Fourth Edition | ASQ
Importance of Containing Quality Costs | Chron.com
Cost of Quality | Tracking poor quality costs | IQMS
Quantity surveyor External links:
Quantity Surveyor Salaries in the United States | Indeed.com
Quantity Surveyor Resume samples – VisualCV resume …
TruEst Quantity Surveyor – website
Reserve study External links:
Reserve Study | Complex Solutions, LTD.
[PDF]RESERVE STUDY GUIDELINE – California Bureau of …
Software project management External links:
Software Project Management Flashcards | Quizlet
Full-stack Software Project Management Tools – Unfuddle
Total cost management External links:
Pharmacy: Total Cost Management | UnitedHealthcare
What Are Cost Engineering & Total Cost Management
Pharmacy: Total Cost Management | UnitedHealthcare
Vendor bid analysis External links:
Using Selection Criteria in Vendor Bid Analysis
44 Vendor Bid Analysis v1 – Hocpmp.Com – Học Luyện Thi …
Waste management External links:
Franklin, WI Waste Management – Yellowpages.com
Waste Management – Franklin, WI – Home | Facebook
Waste Management Jobs, Employment in Franklin, WI | …