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GAO Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Capital Program Costs
GAO Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Capital Program Costs
Publication year:
2009
| Cataloged on:
Mar. 17, 2009
ANNOTATION: The intent of this publication is “to establish a consistent methodology that is based on best practices and that can be used across the federal government for developing, managing, and evaluating capital program cost estimates” (p. i). Twenty chapters are contained in this guide: the characteristics of credible cost estimates and a reliable process for creating them; why government programs need cost estimates and the challenges in developing them; criteria for cost estimating, EVM (earned value management), and data reliability; cost analysis overview; the cost estimate’s purpose, scope, and schedule; the cost assessment team; technical baseline description definition and purpose; work breakdown structure; ground rules and assumptions; data; developing a point estimate; estimating software costs; sensitivity analysis; cost risk and uncertainty; validating the estimate; documenting the estimate; presenting the estimate to management; managing program costs -- planning; managing program costs -- execution; and managing program costs -- updating. Pertinent forms, case studies, and best practices checklists are also included.
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