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Cost Estimation for Project Managers (APPEL-COST)Program / Project Management

PARTICIPANT TESTIMONIALS

  • Program / Project Management
    Program / Project Management

Project Cost Estimating has two primary goals. The first is to provide methods to be used to perform estimates of effort, staffing, schedules, and quality for use in estimating the total project costs. The second aim of the course is to ensure the participant’s ability to recognize the inherent challenges in the estimating process to establish, at the project and organizational levels, the appropriate procedures to implement and continuously improve the estimating process used in the organization.

This course is intended for entry and mid-level project managers and team support members who wish to enhance their project cost estimating skills required to deliver critical projects on time and within budget.

Project Management Competencies
  • PM 3.0 – Requirements Development & Management
  • PM 6.0 - Cost Estimating
  • PM 7.0 - Risk Management

Click here to view full competency model.

Critical Knowledge Resources

Resource Category
Dan Rasky: Revamping Cost Estimation Models (Public) Video
Goddard Search Repository: Case Studies (Public) Website
NASA Lessons Learned Information System (Public) Website

APPEL Library Resources
NASA Galaxie Library NASA Galaxie Library Books 24x7 Library Books 24x7 Library
All supplemental resources are NASA accessible only unless otherwise noted.

Upon completion of this course, participants will be able to:

  • Define cost estimating, cost estimating terms, and cost estimating concepts such as basis of estimate
  • Create and use a solid work breakdown structure (WBS) and resource breakdown structure (RBS) to estimate cost and work
  • Create cost estimates using different estimating techniques
  • Apply a formal process to create a cost estimate for any project
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