skip to Main Content

Cost Estimating

This two-day, 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.

Learning Objectives

  • Understand cost estimating basics
  • 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
  • Comprehend who should perform a proper cost analysis and when
  • Understand the guidance and regulations that are used to conduct a proper analysis
  • Demonstrate how to properly estimate and price a contract modification

Pre-Requisites

None

Course ID

COST EST-EL

Length

2 Days

CLPs

16

Testimonials

“Great! I will be able to apply all the material and techniques on a regular basis as part of my daily duties.” – 2019 participant

Let us know what you're interested in

STAY IN THE LOOP

Stay in the loop with special offers, educational content, and more.

Please wait...

Thank you for sign up!

© 2021 Business Management Research Associates, Inc. | All Rights Reserved

STAY IN THE LOOP

Stay in the loop with special offers, educational content, and more.

Please wait...

Thank you for sign up!

© 2021 Business Management Research Associates, Inc. | All Rights Reserved

Back To Top