Accession Number : ADP006024

Title :   Picking Winners Parametric Cost Estimating and Project Management,

Corporate Author : MINISTRY OF DEFENCE LONDON (UNITED KINGDOM)

Personal Author(s) : Pugh, P. G.

Report Date : SEP 1987

Pagination or Media Count : 21

Abstract : Project managers and development engineers might well be excused for thinking that they have more than enough cost estimates already. After all, the content of any major development programme is always broken down into numerous 'work packages' and the costs of these individually estimated in fine detail. Then, as the work proceeds, these very detailed 'bottom-up' estimates are continually refined and have a large claim on the attention of project managers. However, it is the burden of this lecture that there is another form of cost estimating which can be used from the very inception of a project and which brings large returns from modest effort. Traditional methods assist attempts to control the costs of an on-going project towards some pre-set target. The methods described here are directed more at the initial selection of projects and the setting of feasible cost targets for them. In brief, their role is to pick winners from the range of competing alternatives which present themselves before a major project is begun. At the least, these methods give greater assurance that the chosen solution will be viable in terms of its being attempted within realistic cost constraints.

Descriptors :   *COST ESTIMATES, *MANAGEMENT, *AIRCRAFT, COSTS, ENGINEERS, PARAMETERS, SELECTION, SETTING(ADJUSTING), TARGETS.

Subject Categories : Aircraft
      Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE