Description
This course is available as a one- or two-day offering. This elective course will introduce you to various tools and techniques used to develop cost estimates. You will learn the basic elements of an adequate cost estimate based on best practices and the GAO Cost Estimating and Analysis Guidebook. Contracting officers are normally required to validate cost estimates for use in determining estimated contract costs for budget purposes, and also for determining cost and price realism when reviewing proposal submissions. The emphasis in this class for contracting officers is to understand how program offices prepare a cost estimate, and the specific techniques used to develop it. You will learn how to interpret cost estimates and apply this information when preparing contract modifications and at contract award.
Learning Objectives
- Develop a good cost estimate and understand how work statements affect estimating
- Learn the difference between cost and price analysis
- Conduct proper market research to select the best estimating approach
- Navigate the Work Breakdown Structure using the proper assumptions
- Understand the guidance and regulations that are used to conduct a proper analysis
- Demonstrate how to properly estimate and price a contract modification
NCMA Competencies
A.1, A.3, B.1, B.2, B.4, B.5, B.6, 1.1, 1.2, 1.3, 1.4, 1.5, 1.6, 1.7, 2.0, 2.1, 2.2, 3.0, 3.1
Course ID
COST EST2-EL
COST EST3-EL
Length
2 or 3 Days
CLPs
16 or 24
PDUs
16 or 24
Modality
In-person
Virtual
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