Systems Engineering Cost Estimating Training
Commitment | 2 Days, 7-8 hours a day. |
Language | English |
User Ratings | Average User Rating 4.8 See what learners said |
Price | REQUEST |
Delivery Options | Instructor-Led Onsite, Online, and Classroom Live |
COURSE OVERVIEW
Systems Engineering Cost Estimating Training covers the primary methods for cost estimation needed in systems development, including parametric estimation, activity-based costing, life cycle estimation, and probabilistic modeling. The estimation methods are placed in the context of a Work Breakdown Structure and program schedules while explaining the entire estimation process.
Emphasis is also placed on using cost models to perform trade studies and calibrating cost models to improve their accuracy. Participants will learn how to use cost models through real-life case studies. Common pitfalls in cost estimation will be discussed including behavioral influences that can impact the quality of cost estimates. We conclude with a review of the state of heart in cost estimation.
WHAT'S INCLUDED?
- 2 days of Systems Engineering Cost Estimating Training with an expert instructor
- Systems Engineering Cost Estimating Electronic Course Guide
- Certificate of Completion
- 100% Satisfaction Guarantee
RESOURCES
- Systems Engineering Cost Estimating Training – https://www.wiley.com/
- Systems Engineering Cost Estimating – https://www.packtpub.com/
- Systems Engineering Cost Estimating – https://store.logicaloperations.com/
- Systems Engineering Cost Estimating Training – https://us.artechhouse.com/
- Systems Engineering Cost Estimating – https://www.amazon.com/
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ADDITIONAL INFORMATION
COURSE OBJECTIVES
Upon completing this Systems Engineering Cost Estimating course, learners will be able to meet these objectives:
- What are the most important cost estimation methods?
- How is a WBS used to define project scope?
- What are the appropriate cost estimation methods for my situation?
- How are cost models used to support decisions?
- How accurate are cost models? How accurately do they need to be?
- How are cost models calibrated?
- How can cost models be integrated to develop estimates of the total system?
- How can cost models be used for risk assessment?
- What are the principles for effective cost estimation?
CUSTOMIZE IT
- We can adapt this Systems Engineering Cost Estimating course to your group’s background and work requirements at little to no added cost.
- If you are familiar with some aspects of this Systems Engineering Cost Estimating course, we can omit or shorten their discussion.
- We can adjust the emphasis placed on the various topics or build the Systems Engineering Cost Estimating course around the mix of technologies of interest to you (including technologies other than those included in this outline).
- If your background is nontechnical, we can exclude the more technical topics, include the topics that may be of special interest to you (e.g., as a manager or policy-maker), and present the Systems Engineering Cost Estimating course in a manner understandable to lay audiences.
AUDIENCE/TARGET GROUP
The target audience for this Systems Engineering Cost Estimating course:
- All
CLASS PREREQUISITES
The knowledge and skills that a learner must have before attending this Systems Engineering Cost Estimating course are:
- N/A
COURSE SYLLABUS
- Introduction. Cost estimation in the context of system life cycles. Importance of cost estimation in project planning. How estimation fits into the proposal cycle. The link between cost estimation and scope control. History of parametric modeling.
- Scope Definition. Creation of a technical work scope. Definition and format of the Work Breakdown Structure (WBS) as a basis for accurate cost estimation. Pitfalls in WBS creation and how to avoid them. Task-level work definition. Class exercise in creating a WBS.
- Cost Estimation Methods. Different ways to establish a cost basis, with an explanation of each: parametric estimation, activity-based costing, analogy, case-based reasoning, expert judgment, etc. Benefits and detriments of each. Industry-validated applications. Schedule estimation coupled with cost estimation. A comprehensive review of cost estimation tools.
- Economic Principles. Concepts such as economies/diseconomies of scale, productivity, reuse, earned value, learning curves, and prediction markets are used to illustrate additional methods that can improve cost estimates.
- System Cost Estimation.Estimation in software, electronics, and mechanical engineering. Systems engineering estimation, including design tasks, test & evaluation, and technical management. Percentage-loaded level-of-effort tasks: project management, quality assurance, configuration management. Class exercise in creating cost estimates using a simple spreadsheet model and comparing against the WBS.
- Systems Engineering Cost Estimating Training – Risk Estimation. Handling uncertainties in the cost estimation process. Cost estimation and risk management. Probabilistic cost estimation and effective portrayal of the results. Cost estimation, risk levels, and pricing. Class exercise in probabilistic estimation.
- Decision Making. Organizational adoption of cost models. Understanding the purpose of the estimate (proposal vs. rebaselining; ballpark vs. detailed breakdown). The human side of cost estimation (optimism, anchoring, customer expectations, etc.). Class exercise on calibrating decision makers.
- Course Summary. Course summary and refresher on key points. Additional cost estimation resources. Principles for effective cost estimation