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 198 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:
Discourse Cost Estimation planning and visualize why should people listen to you regarding 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?
– Do we aggressively reward and promote the people who have the biggest impact on creating excellent Cost Estimation services/products?
– Do Cost Estimation rules make a reasonable demand on a users capabilities?
– How would one define Cost Estimation leadership?
Cost estimate Critical Criteria:
Reorganize Cost estimate risks and intervene in Cost estimate processes and leadership.
– What will be the consequences to the business (financial, reputation etc) if Cost Estimation does not go ahead or fails to deliver the objectives?
– Do several people in different organizational units assist with the Cost Estimation process?
– How is the value delivered by Cost Estimation being measured?
AACE International Critical Criteria:
Canvass AACE International management and simulate teachings and consultations on quality process improvement of AACE International.
– Who is responsible for ensuring appropriate resources (time, people and money) are allocated to Cost Estimation?
– Does our organization need more Cost Estimation education?
– Why should we adopt a Cost Estimation framework?
American Society of Professional Estimators Critical Criteria:
Tête-à-tête about American Society of Professional Estimators issues and cater for concise American Society of Professional Estimators education.
– In what ways are Cost Estimation vendors and us interacting to ensure safe and effective use?
– How will you measure your Cost Estimation effectiveness?
– Who sets the Cost Estimation standards?
Best practices Critical Criteria:
Study Best practices management and research ways can we become the Best practices company that would put us out of business.
– 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?
– 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?
– Aare there recommended best practices to help us decide whether they should move to the cloud?
– Are we proactively using the most effective means, the best practices and maximizing our opportunities?
– 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?
– Are CSI and organizational change underpinned by Kotters change management best practices?
– Who are the people involved in developing and implementing Cost Estimation?
– How does big data impact Data Quality and governance best practices?
– What are the a best practices for Agile SCRUM Product Management?
– What are all of our Cost Estimation domains and what do they do?
– What are the best practices for Risk Management in Social Media?
– What are some best practices for managing business intelligence?
– What are best practices for building something like a News Feed?
– Are Organizational Change managements best practices (eg Kotter) applied?
– 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:
X-ray Building estimator failures and correct Building estimator management by competencies.
– What new services of functionality will be implemented next with Cost Estimation ?
– How do we measure improved Cost Estimation service perception, and satisfaction?
Chemical plant cost indexes Critical Criteria:
Cut a stake in Chemical plant cost indexes quality and drive action.
– What are your current levels and trends in key measures or indicators of Cost Estimation product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– What are our Cost Estimation Processes?
Construction Management Association of America Critical Criteria:
Adapt Construction Management Association of America management and check on ways to get started with Construction Management Association of America.
– Does Cost Estimation include applications and information with regulatory compliance significance (or other contractual conditions that must be formally complied with) in a new or unique manner for which no approved security requirements, templates or design models exist?
– Risk factors: what are the characteristics of Cost Estimation that make it risky?
– Have the types of risks that may impact Cost Estimation been identified and analyzed?
Construction Specifications Institute Critical Criteria:
Revitalize Construction Specifications Institute issues and shift your focus.
– What are our best practices for minimizing Cost Estimation project risk, while demonstrating incremental value and quick wins throughout the Cost Estimation project lifecycle?
– Why is it important to have senior management support for a Cost Estimation project?
– What are the record-keeping requirements of Cost Estimation activities?
Construction bidding Critical Criteria:
Wrangle Construction bidding engagements and interpret which customers can’t participate in Construction bidding because they lack skills.
– What are your most important goals for the strategic Cost Estimation objectives?
– What are the Essentials of Internal Cost Estimation Management?
– How can the value of Cost Estimation be defined?
Construction estimating software Critical Criteria:
Read up on Construction estimating software tasks and define Construction estimating software competency-based leadership.
– What tools and technologies are needed for a custom Cost Estimation project?
– Who will be responsible for documenting the Cost Estimation requirements in detail?
Construction management Critical Criteria:
Coach on Construction management planning and track iterative Construction management results.
– How do senior leaders actions reflect a commitment to the organizations Cost Estimation values?
– Who needs to know about Cost Estimation ?
– How do we keep improving Cost Estimation?
Cost contingency Critical Criteria:
Focus on Cost contingency risks and look in other fields.
– Can we add value to the current Cost Estimation decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– How important is Cost Estimation to the user organizations mission?
– What is the purpose of Cost Estimation in relation to the mission?
Cost database Critical Criteria:
Tête-à-tête about Cost database results and ask questions.
– Marketing budgets are tighter, consumers are more skeptical, and social media has changed forever the way we talk about Cost Estimation. How do we gain traction?
– Are we making progress? and are we making progress as Cost Estimation leaders?
– What are current Cost Estimation Paradigms?
Cost engineering Critical Criteria:
Design Cost engineering tasks and raise human resource and employment practices for Cost engineering.
– What are the key elements of your Cost Estimation performance improvement system, including your evaluation, organizational learning, and innovation processes?
– How can we incorporate support to ensure safe and effective use of Cost Estimation into the services that we provide?
Cost escalation Critical Criteria:
Contribute to Cost escalation tactics and raise human resource and employment practices for Cost escalation.
– Will new equipment/products be required to facilitate Cost Estimation delivery for example is new software needed?
Cost estimation in software engineering Critical Criteria:
Add value to Cost estimation in software engineering management and figure out ways to motivate other Cost estimation in software engineering users.
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Cost Estimation process?
– What are the disruptive Cost Estimation technologies that enable our organization to radically change our business processes?
– To what extent does management recognize Cost Estimation as a tool to increase the results?
Cost overrun Critical Criteria:
Coach on Cost overrun outcomes and find out what it really means.
– What are the usability implications of Cost Estimation actions?
– Are there Cost Estimation problems defined?
– How can we improve Cost Estimation?
General contractor Critical Criteria:
Disseminate General contractor results and work towards be a leading General contractor expert.
– Is a Cost Estimation Team Work effort in place?
– What is Effective Cost Estimation?
Glossary of construction cost estimating Critical Criteria:
Sort Glossary of construction cost estimating leadership and integrate design thinking in Glossary of construction cost estimating innovation.
– What about Cost Estimation Analysis of results?
Glossary of project management Critical Criteria:
Exchange ideas about Glossary of project management goals and innovate what needs to be done with Glossary of project management.
– Who will be responsible for making the decisions to include or exclude requested changes once Cost Estimation is underway?
Indirect costs Critical Criteria:
Consolidate Indirect costs tasks and sort Indirect costs activities.
– Are there any disadvantages to implementing Cost Estimation? There might be some that are less obvious?
– How are the subunit s indirect costs allocated to products?
– How are a subunit s indirect costs allocated to products?
Industrial engineering Critical Criteria:
Systematize Industrial engineering planning and create Industrial engineering explanations for all managers.
– Is the Cost Estimation organization completing tasks effectively and efficiently?
International Standard Book Number Critical Criteria:
Familiarize yourself with International Standard Book Number management and shift your focus.
– What potential environmental factors impact the Cost Estimation effort?
– Think of your Cost Estimation project. what are the main functions?
Line items Critical Criteria:
Mix Line items results and create a map for yourself.
– How do your measurements capture actionable Cost Estimation information for use in exceeding your customers expectations and securing your customers engagement?
Manufacturing cost Critical Criteria:
Administer Manufacturing cost management and report on the economics of relationships managing Manufacturing cost and constraints.
– Meeting the challenge: are missed Cost Estimation opportunities costing us money?
Order of magnitude Critical Criteria:
Learn from Order of magnitude strategies and get going.
– Among the Cost Estimation product and service cost to be estimated, which is considered hardest to estimate?
– Do we monitor the Cost Estimation decisions made and fine tune them as they evolve?
Outline of project management Critical Criteria:
Discourse Outline of project management engagements and point out improvements in Outline of project management.
– What are the top 3 things at the forefront of our Cost Estimation agendas for the next 3 years?
– What will drive Cost Estimation change?
Parametric estimating Critical Criteria:
Think about Parametric estimating quality and reduce Parametric estimating costs.
– 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?
– Does Cost Estimation systematically track and analyze outcomes for accountability and quality improvement?
– What are the business goals Cost Estimation is aiming to achieve?
Performance bond Critical Criteria:
Familiarize yourself with Performance bond tactics and define what our big hairy audacious Performance bond goal is.
– Do we cover the five essential competencies-Communication, Collaboration,Innovation, Adaptability, and Leadership that improve an organizations ability to leverage the new Cost Estimation in a volatile global economy?
– 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?
Pre-construction services Critical Criteria:
Focus on Pre-construction services failures and optimize Pre-construction services leadership as a key to advancement.
– How do we manage Cost Estimation Knowledge Management (KM)?
Project Management Institute Critical Criteria:
Have a meeting on Project Management Institute failures and separate what are the business goals Project Management Institute is aiming to achieve.
– Who will be responsible for deciding whether Cost Estimation goes ahead or not after the initial investigations?
– What are specific Cost Estimation Rules to follow?
Project cost management Critical Criteria:
Own Project cost management projects and separate what are the business goals Project cost management is aiming to achieve.
– What other corporate systems and processes does this project impact?
– How should the costs be allocated and what should the sponsor do?
– What can be done to set the Advisory Group on the right path?
– Project Team: Who will be on the project and for which dates?
– Be sure any new product will perform -how can you be sure?
– What is the role of Project Management Body of Knowledge?
– Does your organization have a Project Management Office?
– Project Scope: What is the purpose of the new software?
– What are the Perceptions of Owners and Contractors?
– What is the cost justification of historical data?
– Does Cost Estimation appropriately measure and monitor risk?
– What is an economic aspect of Project Management?
– Where does the information come from?
– How many organizations are involved?
– Are we hitting our project targets?
– Why is Funds Management Important?
– What should the results be?
– What is Resource Planning?
– What Is a Project?
– Is it feasible?
Project management Critical Criteria:
Understand Project management visions and work towards be a leading Project management expert.
– Partial solutions can only be used if the information support is being developed for a process that has not yet been computerised. Namely, if users already use an old IT solution – will they partly use the old one and partly the new one?
– 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 can a company arrange a new project if the management does not know when they will finish the current projects and when the employees will be free to take on a new project?
– What are the key considerations and decisions that must be made to ensure your project management office is appropriate for your organization?
– Just what is a project management office, and how can it help you address the unique project management challenges in your organization?
– Originally, agile project management required collocated teams. How could a new product or service be developed in the 21st century without them?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– What did you accomplish yesterday, what will you do today, and what impediments are getting in your way?
– So, if the project no longer needs a detailed master project plan, why does it need a project manager?
– What happens to the function of the business analysis in user story development?
– How difficult is agile project management for outsourced or off-shored projects?
– How do organizations adapt to a radically new framework such as agile?
– So, how does the agile project management model work?
– Can scrum do the same for globally distributed teams?
– that is fine as far as it goes, but does this scale?
– What project management associations are you a member of?
– How do we deal with change when it happens?
– How much project management is needed?
Project management software Critical Criteria:
Paraphrase Project management software planning and spearhead techniques for implementing Project management software.
Quality assurance Critical Criteria:
Troubleshoot Quality assurance quality and develop and take control of the Quality assurance initiative.
– Does a quality plan exist for significant it functions (e.g., system development and deployment) and does it provide a consistent approach to address both general and project-specific Quality Assurance activities?
– How do employee selection and development practices, as well as staff performance management, well-being, motivation, satisfaction, and compensation, contribute to the growth of the organization?
– Does the Quality Assurance record center contain copies of all previous revisions of the documents, including copies of applicable change notices?
– 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?
– How does the company manage the design and delivery of products and services that promise a high level of customer satisfaction?
– What is the availability of and cost of internal Quality Assurance manpower necessary to monitor each performance indicator?
– Are qa audits, surveillances, and nonconformance reports part of the qa program?
– Is the current process data stable in a range where the target can be achieved?
– Were adequate human factors considered in the design of the equipment?
– How do policies and procedures get updated within your department?
– Do you keep track of unsuccessfully performed skills?
– Is the target achievable by the current process?
– Who is responsible for overseeing this process?
– How often are your current policies evaluated?
– Are standardized tests available?
– Is the qa plan approved?
Quality control Critical Criteria:
Focus on Quality control risks and find out what it really means.
– 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?
– 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 is your quality control system?
– What about quality control? Defects?
– What about quality control?
Quality costs Critical Criteria:
Mine Quality costs issues and secure Quality costs creativity.
– How likely is the current Cost Estimation plan to come in on schedule or on budget?
– Will Cost Estimation deliverables need to be tested and, if so, by whom?
Quantity surveyor Critical Criteria:
Familiarize yourself with Quantity surveyor projects and find out what it really means.
– Do those selected for the Cost Estimation team have a good general understanding of what Cost Estimation is all about?
– How can you measure Cost Estimation in a systematic way?
Reserve study Critical Criteria:
Consolidate Reserve study issues and improve Reserve study service perception.
– What role does communication play in the success or failure of a Cost Estimation project?
– Is Cost Estimation Required?
Scientific Wild-Ass Guess Critical Criteria:
Participate in Scientific Wild-Ass Guess tactics and look in other fields.
Software project management Critical Criteria:
Merge Software project management decisions and diversify disclosure of information – dealing with confidential Software project management information.
– What sources do you use to gather information for a Cost Estimation study?
– Are there recognized Cost Estimation problems?
Three-point estimation Critical Criteria:
Derive from Three-point estimation strategies and ask questions.
– Why is Cost Estimation important for you now?
– How do we go about Securing Cost Estimation?
Total cost management Critical Criteria:
Accelerate Total cost management leadership and probe Total cost management strategic alliances.
– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Cost Estimation?
– Who will provide the final approval of Cost Estimation deliverables?
Vendor bid analysis Critical Criteria:
Illustrate Vendor bid analysis quality and devise Vendor bid analysis key steps.
– Think about the functions involved in your Cost Estimation project. what processes flow from these functions?
– Can we do Cost Estimation without complex (expensive) analysis?
Waste management Critical Criteria:
Wrangle Waste management goals and learn.
– How much does Cost Estimation help?
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:
Service Acquisition Mall – ARRT Cost Estimation
Cost Estimation Methods – University of North Florida
AASHTOWare Project Software Cost Estimation – New Jersey
AACE International External links:
AACE International Southern California Section
2018 Western Winter Workshop – AACE International …
About Us | AACE International
American Society of Professional Estimators External links:
ASPE National – American Society of Professional Estimators
American Society of Professional Estimators – Catalog
Best practices External links:
Title Company – Best Practices
Best Practices — Attorneys Title I North Carolina
Best Practices – Independence Title
Building estimator External links:
Building Estimator – AbeBooks
The Building Estimator’s Reference Book – Frank R Walker
Chemical plant cost indexes External links:
Chemical plant cost indexes – Revolvy
https://update.revolvy.com/topic/Chemical plant cost indexes
chemical plant cost indexes chile – galogistics.in
Construction Management Association of America External links:
Construction Management Association of America: …
Construction Management Association of America – …
CMAAAZ – Construction Management Association of America
Construction Specifications Institute External links:
Construction Specifications Institute – Prometric
CSI East Bay-Oakland | Construction Specifications Institute
My Account – Construction Specifications Institute
Construction bidding External links:
Top Construction Bidding Sites – Top20Sites.com
Construction bidding for profit (eBook, 1979) …
Construction estimating software External links:
Construction Estimating Software | On Screen Takeoff | …
Construction Estimating Software
Clear Estimates | Construction Estimating Software
Cost contingency External links:
How Cost Contingency is Calculated? – Project Control …
CiteSeerX — Cost Contingency as the Standard Deviation …
Cost database External links:
NREL Data: Distribution System Upgrade Unit Cost Database
Life-cycle cost database (Book, 1983) [WorldCat.org]
RSMeans Online Construction Cost Database
Cost engineering External links:
SEA 05C – Cost Engineering and Industrial Analysis Division
Cost Engineering & Estimating QA Review Checklist – …
Cost escalation External links:
Cost escalation in nuclear power (Book, 1978) …
Cost overrun External links:
Cost Overrun Essays – ManyEssays.com
Predicting cost overrun of railroad bridge construction
General contractor External links:
Job Description of General Contractors | Chron.com
Glossary of construction cost estimating External links:
View topic – Glossary of construction cost estimating link
Glossary of construction cost estimating – PlanOpedia
Glossary of project management External links:
PMI – Glossary of Project Management terms
Indirect costs External links:
Indirect Costs | oalm-new1.dd
Examples of Direct and Indirect Costs | Chron.com
[PDF]An Overview Indirect Costs
Industrial engineering External links:
Industrial Engineering & Management
School of Industrial Engineering – Purdue University
Mechanical and Industrial Engineering
International Standard Book Number External links:
[PDF]International Standard Book Number: 0-942920-53-8
ISBN – Check Digit for International Standard Book Number
ISBN: International Standard Book Number for Self …
Line items External links:
[PDF]PO Unit of Measure (UOM) for Line Items – Welcome to …
Manufacturing cost External links:
Manufacturing Cost Of Viagra | SunDrugstore
[PDF]Manufacturing Cost Annual – cdfa.ca.gov
Intel’s manufacturing cost: $40 per chip – CNET
Order of magnitude External links:
GCSE Biology (9-1) Order of magnitude – YouTube
What is Rough Order Of Magnitude (ROM)? definition and …
Order Of Magnitude – The Paranormal & Personal – YouTube
Parametric estimating External links:
Topics on the PMP: Parametric Estimating – Magoosh …
[PDF]An Introduction to Parametric Estimating
Parametric Estimating – Project Management Certification
Performance bond External links:
Performance Bond – investopedia.com
Performance Bond – GSA
Performance Bond – JW Surety Bonds
Pre-construction services External links:
Pre-Construction Services — American Direct
Project Management Institute External links:
PMI – Project Management Institute :: Pearson VUE
PMI-Project Management Institute
CCRS | Project Management Institute
Project cost management External links:
Project Cost Management For Dynamics AX – SIS Software
Project Cost Management Consultants NW&SW …
PreparePM | Project Cost Management
Project management External links:
LearnSmart IT & Project Management Online Training …
Project management software External links:
Huddle | Team Collaboration & Project Management Software
Dynamics SL – Project Management Software – microsoft.com
Quality assurance External links:
Quality assurance titles Jobs – Yakaz
Read this Business Essay and over 88,000 other research documents. Quality Assurance. Quality assurance (QA) is the activity of …
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.
Quality control External links:
Part D: Ensuring Quality Control (QC) – fanniemae.com
Ardent Services, Inc. | Quality Control Evaluation Services
OEQC Home – Office of Environmental Quality Control
Quality costs External links:
Principles of Quality Costs, Fourth Edition | ASQ
Quantity surveyor External links:
Quantity Surveyor Resume Samples | JobHero
Home | TruEst Quantity Surveyor
Reserve study External links:
RCW 64.34.382: Reserve study—Contents.
What Is a Reserve Study? | Reserve Advisors
[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:
[PDF]Total Cost Management Framework: An Integrated …
Pharmacy Care Services Total Cost Management – Optum
Pharmacy: Total Cost Management | UnitedHealthcare
Vendor bid analysis External links:
44 Vendor Bid Analysis v1 – Hocpmp.Com – Học Luyện Thi …
Using Selection Criteria in Vendor Bid Analysis
Waste management External links:
Login to EBusiness | Waste Management eBusiness
Franklin, WI Waste Management – Yellowpages.com
Waste Management – Franklin, WI – Home | Facebook