| cost estimation methods in project management: Cost Estimation Gregory K. Mislick, Daniel A. Nussbaum, 2015-05-04 Presents an accessible approach to the cost estimation tools, concepts, and techniques needed to support analytical and cost decisions Written with an easy-to-understand approach, Cost Estimation: Methods and Tools provides comprehensive coverage of the quantitative techniques needed by professional cost estimators and for those wanting to learn about this vibrant career field. Featuring the underlying mathematical and analytical principles of cost estimation, the book focuses on the tools and methods used to predict the research and development, production, and operating and support costs for successful cost estimation in industrial, business, and manufacturing processes. The book begins with a detailed historical perspective and key terms of the cost estimating field in order to develop the necessary background prior to implementing the presented quantitative methods. The book proceeds to fundamental cost estimation methods utilized in the field of cost estimation, including working with inflation indices, regression analysis, learning curves, analogies, cost factors, and wrap rates. With a step-by-step introduction to the practicality of cost estimation and the available resources for obtaining relevant data, Cost Estimation: Methods and Tools also features: Various cost estimating tools, concepts, and techniques needed to support business decisions Multiple questions at the end of each chapter to help readers obtain a deeper understanding of the discussed methods and techniques An overview of the software used in cost estimation, as well as an introduction to the application of risk and uncertainty analysis A Foreword from Dr. Douglas A. Brook, a professor in the Graduate School of Business and Public Policy at the Naval Postgraduate School, who spent many years working in the Department of Defense acquisition environment Cost Estimation: Methods and Tools is an excellent reference for academics and practitioners in decision science, operations research, operations management, business, and systems and industrial engineering, as well as a useful guide in support of professional cost estimation training and certification courses for practitioners. The book is also appropriate for graduate-level courses in operations research, operations management, engineering economics, and manufacturing and/or production processes. |
| cost estimation methods in project management: Practice Standard for Project Estimating - Second Edition Project Management Institute, 2020-04-24 Project estimating plays a vital role in project management. Typically completed in the initial planning stages, accurate project estimation can be a difficult task. Organizations and project managers should use these initial estimates to baseline the project schedule and cost, then refine these estimates as the project develops. Accurate estimation and refinement of the estimates leads to better and earlier decision making, thus maximizing value.Developed within the framework of A Guide to the Project Management Body of Knowledge (PMBOK&® Guide) &– Sixth Edition and other PMI standards, the Practice Standard for Project Estimating &– Second Edition focuses on providing models for the project management profession in both plan-driven and change-driven adaptive (agile) life cycles. This practice standard describes the aspects of project estimating that are recognized as good practice on most projects most of the time and that are widely recognized and consistently applied.PMI practice standards describe processes, activities, constraints, inputs, and outputs for specific discipline subject areas and are targeted to all practitioners within projectized organizations, not just project managers. |
| cost estimation methods in project management: APM - AcostE Estimating Guide , 2019-06 |
| cost estimation methods in project management: How to Manage a Great Project Mike Clayton, 2014-01-24 The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. So, you’ve been asked to manage a project. Not sure where to start? Start here. This is your ultimate one-stop, easy-going and very friendly guide to delivering any project of any size. Even if you’re a first time, never-done-it-before, newbie project manager, How to Manage a Great Project will get you from start to finish on budget, on target and on time. |
| cost estimation methods in project management: Software Project Effort Estimation Adam Trendowicz, Ross Jeffery, 2014-05-07 Software effort estimation is one of the oldest and most important problems in software project management, and thus today there are a large number of models, each with its own unique strengths and weaknesses in general, and even more importantly, in relation to the environment and context in which it is to be applied. Trendowicz and Jeffery present a comprehensive look at the principles of software effort estimation and support software practitioners in systematically selecting and applying the most suitable effort estimation approach. Their book not only presents what approach to take and how to apply and improve it, but also explains why certain approaches should be used in specific project situations. Moreover, it explains popular estimation methods, summarizes estimation best-practices, and provides guidelines for continuously improving estimation capability. Additionally, the book offers invaluable insights into project management in general, discussing issues including project trade-offs, risk assessment, and organizational learning. Overall, the authors deliver an essential reference work for software practitioners responsible for software effort estimation and planning in their daily work and who want to improve their estimation skills. At the same time, for lecturers and students the book can serve as the basis of a course in software processes, software estimation, or project management. |
| cost estimation methods in project management: Project Estimating and Cost Management Parviz F. Rad, Parivs F. Rad PhD, PMP, 2001-10 Improve the accuracy of project estimates and make better in-progress modifications by following the discipline-independent approach mapped out in this book. Learn the best ways to apply new tools, including a breakdown structure for both work and resources and proven estimating models. In addition, you'll gain insights into best practices for progress monitoring and cost management, as well as for dealing effectively with external projects. |
| cost estimation methods in project management: Agile Practice Guide , 2017-09-06 Agile Practice Guide – First Edition has been developed as a resource to understand, evaluate, and use agile and hybrid agile approaches. This practice guide provides guidance on when, where, and how to apply agile approaches and provides practical tools for practitioners and organizations wanting to increase agility. This practice guide is aligned with other PMI standards, including A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, and was developed as the result of collaboration between the Project Management Institute and the Agile Alliance. |
| cost estimation methods in project management: Agile Estimating and Planning Mike Cohn, 2005-11-01 Agile Estimating and Planning is the definitive, practical guide to estimating and planning agile projects. In this book, Agile Alliance cofounder Mike Cohn discusses the philosophy of agile estimating and planning and shows you exactly how to get the job done, with real-world examples and case studies. Concepts are clearly illustrated and readers are guided, step by step, toward how to answer the following questions: What will we build? How big will it be? When must it be done? How much can I really complete by then? You will first learn what makes a good plan-and then what makes it agile. Using the techniques in Agile Estimating and Planning, you can stay agile from start to finish, saving time, conserving resources, and accomplishing more. Highlights include: Why conventional prescriptive planning fails and why agile planning works How to estimate feature size using story points and ideal days–and when to use each How and when to re-estimate How to prioritize features using both financial and nonfinancial approaches How to split large features into smaller, more manageable ones How to plan iterations and predict your team's initial rate of progress How to schedule projects that have unusually high uncertainty or schedule-related risk How to estimate projects that will be worked on by multiple teams Agile Estimating and Planning supports any agile, semiagile, or iterative process, including Scrum, XP, Feature-Driven Development, Crystal, Adaptive Software Development, DSDM, Unified Process, and many more. It will be an indispensable resource for every development manager, team leader, and team member. |
| cost estimation methods in project management: Software Estimation Steve McConnell, 2006-02-22 Often referred to as the “black art” because of its complexity and uncertainty, software estimation is not as difficult or puzzling as people think. In fact, generating accurate estimates is straightforward—once you understand the art of creating them. In his highly anticipated book, acclaimed author Steve McConnell unravels the mystery to successful software estimation—distilling academic information and real-world experience into a practical guide for working software professionals. Instead of arcane treatises and rigid modeling techniques, this guide highlights a proven set of procedures, understandable formulas, and heuristics that individuals and development teams can apply to their projects to help achieve estimation proficiency. Discover how to: Estimate schedule and cost—or estimate the functionality that can be delivered within a given time frame Avoid common software estimation mistakes Learn estimation techniques for you, your team, and your organization * Estimate specific project activities—including development, management, and defect correction Apply estimation approaches to any type of project—small or large, agile or traditional Navigate the shark-infested political waters that surround project estimates When many corporate software projects are failing, McConnell shows you what works for successful software estimation. |
| cost estimation methods in project management: Software Estimation Best Practices, Tools & Techniques Murali Chemuturi, 2009-07-15 Almost every software project begins with the utterances, “What will this cost?” and “When will this project be done?” Once those words are spoken, project stakeholders begin to wrestle with how to produce an estimate. Accurately estimating the cost or time to complete a software project is a serious problem for many software engineers, developers and project managers who struggle with costs running double original estimates, putting their careers at risk. It is reported that nearly 50% of all software projects are shelved and that one of the major causes is poor estimation practices. If developing software for internal use, poor estimates can represent a significant drain on corporate profits. Worldwide growth in the number of companies specializing in the development of software for use by other companies is staggering. India alone has nearly 20,000 such companies. Intense competition has led to an increased demand for fixed-bid pricing in client/vendor relationships, and has made effective cost estimation even more important and, in many cases, critical to a firm's survival. There are many methods of estimation. Each method has its strengths and weaknesses, proponents and opponents. Knowing how and which one to use on a given project is key to developing acceptable estimates for either internal or external projects.Software Estimation Best Practices, Tools, & Techniques covers all facets of software estimation. It provides a detailed explanation of the various methods for estimating software size, development effort, cost, and schedule, including a comprehensive explanation of Test Effort Estimation. Emphasizing that software estimation should be based on a well-defined process, it presents software estimation best practices and shows how to avoid common pitfalls. This guide offers direction on which methods are most appropriate for each of the different project types commonly executed in the software development space and criteria for selecting software estimation tools. This comprehensive desk reference explains software estimation from scratch to help the beginner and features advanced techniques for more experienced estimators. It details project scheduling, including resource leveling and the concept of productivity, as applicable to software estimators, demonstrating the many benefits of moving from the current macro-productivity approach to a micro-productivity approach in software estimation. Software Estimation Best Practices, Tools, & Techniques: A Complete Guide for Software Project Estimators caters to the needs of all software project stakeholders, from novice to expert. It provides the valuable guidance needed to estimate the cost and time required to complete software projects within a reasonable margin of error for effective software development. |
| cost estimation methods in project management: Software Estimation Without Guessing George Dinwiddie, 2019-12-19 Estimating software development often produces more angst than value, but it doesn't have to. Identify the needs behind estimate requests and determine how to meet those needs simply and easily. Choose estimation techniques based on current needs and available information, gaining benefit while reducing cost and effort. Detect bad assumptions that might sink your project if you don't adjust your plans. Discover what to do when an estimate is wrong, how to recover, and how to use that knowledge for future planning. Learn to communicate about estimates in a healthy and productive way, maximizing advantage to the organization and minimizing damage to the people. In a world where most developers hate estimation and most managers fear disappointment with the results, there is hope for both. It requires giving up some widely held misconceptions. Let go of the notion that an estimate is an estimate and estimate for the particular need you, and your organization, have. Realize that estimates have a limited shelf-life, and reestimate frequently if it's important. When reality differs from your estimate, don't lament; mine that disappointment for the gold that can be the longer-term jackpot. Estimate in comparison to past experience, by modeling the work mathematically, or a hybrid of both. Learn strategies for effective decomposition of work and aspects of the work that likely affect your estimates. Hedge your bets by comparing the results of different approaches. Find out what to do when an estimate proves wrong. And they will. They're estimates, after all. You'll discover that you can use estimates to warn you of danger so you can take appropriate action in time. Learn some crucial techniques to understand and communicate with those who need to understand. Address both the technical and sociological aspects of estimation, and you'll help your organization achieve its desired goals with less drama and more benefit. What You Need: No software needed, just your past experience and concern for the outcomes. |
| cost estimation methods in project management: Practical Software Project Estimation: A Toolkit for Estimating Software Development Effort & Duration Peter Hill, International Software Benchmarking Standards Group, 2010-08-29 Product verifiable, defensible, and achievable software estimates Based on data collected by the International Software Benchmarking Standards Group (ISBSG), Practical Software Project Estimation explains how to accurately forecast the size, cost, and schedule of software projects. Get expert advice on generating accurate estimates, minimizing risks, and planning and managing projects. Valuable appendixes provide estimation equations, delivery rate tables, and the ISBSG Repository demographics. Verify project objectives and requirements Determine, validate, and refine software functional size Produce indicative estimates using regression equations Predict effect and duration through comparison and analogy Build estimation frameworks Perform benchmarks using the ISBSG Repository Compare IFPUG, COSMIC, and FiSMA sizing methods Peter Hill is the chief executive officer and a director of the ISBSG. He has been in the information services industry for more than 40 years and has compiled and edited five books for the ISBSG. |
| cost estimation methods in project management: Estimating Software Costs Capers Jones, 2007-05-10 Deliver bug-free software projects on schedule and within budget Get a clear, complete understanding of how to estimate software costs, schedules, and quality using the real-world information contained in this comprehensive volume. Find out how to choose the correct hardware and software tools, develop an appraisal strategy, deploy tests and prototypes, and produce accurate software cost estimates. Plus, you'll get full coverage of cutting-edge estimating approaches using Java, object-oriented methods, and reusable components. Plan for and execute project-, phase-, and activity-level cost estimations Estimate regression, component, integration, and stress tests Compensate for inaccuracies in data collection, calculation, and analysis Assess software deliverables and data complexity Test design principles and operational characteristics using software prototyping Handle configuration change, research, quality control, and documentation costs Capers Jones' work offers a unique contribution to the understanding of the economics of software production. It provides deep insights into why our advances in computing are not matched with corresponding improvements in the software that drives it. This book is absolutely required reading for an understanding of the limitations of our technological advances. --Paul A. Strassmann, former CIO of Xerox, the Department of Defense, and NASA |
| cost estimation methods in project management: Project Management for Construction Chris Hendrickson, Tung Au, 1989 |
| cost estimation methods in project management: Handbook of Software Engineering & Knowledge Engineering Shi Kuo Chang, 2002 This is the first handbook to cover comprehensively both software engineering and knowledge engineering -- two important fields that have become interwoven in recent years. Over 60 international experts have contributed to the book. Each chapter has been written in such a way that a practitioner of software engineering and knowledge engineering can easily understand and obtain useful information. Each chapter covers one topic and can be read independently of other chapters, providing both a general survey of the topic and an in-depth exposition of the state of the art. Practitioners will find this handbook useful when looking for solutions to practical problems. Researchers can use it for quick access to the background, current trends and most important references regarding a certain topic.The handbook consists of two volumes. Volume One covers the basic principles and applications of software engineering and knowledge engineering.Volume Two will cover the basic principles and applications of visual and multimedia software engineering, knowledge engineering, data mining for software knowledge, and emerging topics in software engineering and knowledge engineering. |
| cost estimation methods in project management: Software Cost Estimation, Benchmarking, and Risk Assessment Adam Trendowicz, 2013-01-10 Software effort estimation is a key element of software project planning and management. Yet, in industrial practice, the important role of effort estimation is often underestimated and/or misunderstood. In this book, Adam Trendowicz presents the CoBRA method (an abbreviation for Cost Estimation, Benchmarking, and Risk Assessment) for estimating the effort required to successfully complete a software development project, which uniquely combines human judgment and measurement data in order to systematically create a custom-specific effort estimation model. CoBRA goes far beyond simply predicting the development effort; it supports project decision-makers in negotiating the project scope, managing project risks, benchmarking productivity, and directing improvement activities. To illustrate the method’s practical use, the book reports several real-world cases where CoBRA was applied in various industrial contexts. These cases represent different estimation contexts in terms of software project environment, estimation objectives, and estimation constraints. This book is the result of a successful collaboration between the process management division of Fraunhofer IESE and many software companies in the field of software engineering technology transfer. It mainly addresses software practitioners who deal with planning and managing software development projects as part of their daily work, and is also of interest for students or courses specializing in software engineering or software project management. |
| cost estimation methods in project management: Project Management Eric W. Larson, Clifford F. Gray, 2020 Project Management, 8e provides a holistic and realistic approach to Project Management that combines the human aspect and culture of an organization with the tools and methods used It covers concepts and skills used to propose, plan secure resources, budget and lead project teams to successful completion of projects. this text is not only on how the management process works, but also, and more importantly, on why it works. It's not intended to specialize by industry type or project scope, rather it is written for the individual who will be required to manage a variety of projects in a variety of organizational settings. 8e was written for a broad range of audiences including, project managers, students, analysts and Project Management Institute Members preparing for certification exams. The digital component, Connect, now has enhanced algorithmic problems, Application Based Activities, SmartBook 2.0 and Practice Operations, a game-based 3D operations management simulation.--Publisher. |
| cost estimation methods in project management: Agile Project Management with Kanban Eric Brechner, 2015 With Kanban, every minute you spend on a software project can add value for customers. One book can help you achieve this goal: Agile Project Management with Kanban. Author Eric Brechner pioneered Kanban within the Xbox engineering team at Microsoft. Now he shows you exactly how to make it work for your team. Think of this book as {28}Kanban in a box. |
| cost estimation methods in project management: Guidebook on Risk Analysis Tools and Management Practices to Control Transportation Project Costs Keith Robert Molenaar, 2010 This guidebook provides guidance to state departments of transportation for using specific, practical, and risk-related management practices and analysis tools for managing and controlling transportation project costs. Containing a toolbox for agencies to use in selecting the appropriate strategies, methods and tools to apply in meeting their cost-estimation and cost-control objectives, this guidebook should be of immediate use to practitioners that are accountable for the accuracy and reliability of cost estimates during planning, priority programming and preconstruction. |
| cost estimation methods in project management: PMP Certification All-In-One Desk Reference For Dummies Cynthia Stackpole, 2011-09-20 Bonus CD-ROM includes Dummies Test Engine, an exclusive practice exam with hundreds of sample questions based on the actual exam. |
| cost estimation methods in project management: The Sixth International Symposium on Neural Networks (ISNN 2009) Hongwei Wang, Yi Shen, Tingwen Huang, Zhigang Zeng, 2009-05-03 This volume of Advances in Soft Computing and Lecture Notes in Computer th Science vols. 5551, 5552 and 5553, constitute the Proceedings of the 6 Inter- tional Symposium of Neural Networks (ISNN 2009) held in Wuhan, China during May 26–29, 2009. ISNN is a prestigious annual symposium on neural networks with past events held in Dalian (2004), Chongqing (2005), Chengdu (2006), N- jing (2007) and Beijing (2008). Over the past few years, ISNN has matured into a well-established series of international conference on neural networks and their applications to other fields. Following this tradition, ISNN 2009 provided an a- demic forum for the participants to disseminate their new research findings and discuss emerging areas of research. Also, it created a stimulating environment for the participants to interact and exchange information on future research challenges and opportunities of neural networks and their applications. ISNN 2009 received 1,235 submissions from about 2,459 authors in 29 co- tries and regions (Australia, Brazil, Canada, China, Democratic People's Republic of Korea, Finland, Germany, Hong Kong, Hungary, India, Islamic Republic of Iran, Japan, Jordan, Macao, Malaysia, Mexico, Norway, Qatar, Republic of Korea, Singapore, Spain, Taiwan, Thailand, Tunisia, United Kingdom, United States, Venezuela, Vietnam, and Yemen) across six continents (Asia, Europe, North America, South America, Africa, and Oceania). Based on rigorous reviews by the Program Committee members and reviewers, 95 high-quality papers were selected to be published in this volume. |
| cost estimation methods in project management: Practical Software Estimation M. A. Parthasarathy, 2003-02-25 A clearly written book that is a useful primer for a very complicated set of topics. --Capers Jones, Chief Scientist Emeritus, Software Productivity Research LLC Practical Software Estimation brings together today's most valuable tips, techniques, and best practices for accurately estimating software project efforts, costs, and schedules. Written by a leading expert in the field, it addresses the full spectrum of real-world challenges faced by those who must develop reliable estimates. M. A. Parthasarathy draws on the immense experience of Infosys, one of the world's largest and most respected providers of IT-enabled business solutions, to bring you the only book with detailed guidance on estimating insourced and outsourced software projects, as well as projects that blend both approaches. He demonstrates how to successfully utilize Function Point (FP) methods, the industry's leading estimation model. Then, using real case studies, he systematically identifies pitfalls that can lead to inaccurate estimates--and offers proven solutions. Coverage includes How to estimate all types of software projects, including fresh development, reengineering, and maintenance How to incorporate the impact of core project elements on estimates: scope, environment, experience, and tools FP analysis from start to finish: data and transaction functions, general system characteristics, and more FP methods for any platform or business function Innovative re-estimation methods to track progress How to quote RFPs and prepare contracts: fixed price, time/material, and project execution lifecycle models Alternatives to FP: Delphi, COCOMO II, and COSMIC-FFP How to choose the right estimation tools Practical Software Estimation is the definitive reference for anyone who must estimate software projects accurately: project and IT managers, individual developers, system designers, architects, executives, consultants, and outsourcers alike. List of Figures List of Tables Foreword Preface Acknowledgments Chapter 1: Introduction Chapter 2: Role of Estimation in Software Projects Chapter 3: A Study of Function Point Analysis Chapter 4: Data Functions Chapter 5: Transactional Functions Chapter 6: General System Characteristics Chapter 7: Size, Effort, and Scheduling of Projects Chapter 8: Estimation Flavors Chapter 9: A Sense of Where You Are Chapter 10: Tips, Tricks, and Traps Chapter 11: Insourcing versus Outsourcing Chapter 12: Key Factors in Software Contracts Chapter 13: Project Estimation and Costing Chapter 14: Other Estimation Methods Chapter 15: Estimation Tools Chapter 16: Estimation Case Study Appendix A: Reference Tables: Transaction Function Counts Appendix B: Reference Tables: Data Function Points Bibliography Index |
| cost estimation methods in project management: Software Cost Estimation with Cocomo II Barry W. Boehm, 2000 Don't become a statistic--take control of your software projects and plan for success! Success in all types of organization depends increasingly on the development of customized software solutions, yet more than half of software projects now in the works will exceed both their schedules and their budgets by more than 50%. While some types of overruns remain unpredictable, most can be avoided by sound modeling. COCOMO II provides you with a thorough rework of the classic COCOMO model to address modern software processes and construction techniques along with representative examples of applying the models to key software decision situations. It was calibrated and validated using innovative statistical techniques to fit both expert judgment and 161 carefully collected project data points. The book also introduces emerging COCOMO II extensions for cost and schedule estimation of COTS integration and rapid development. You'll also: Learn firsthand from knowledgeable authors--over 100 person-years of software cost estimation experience Make better software decisions by exploring their cost implications Use the cost and schedule estimates to better plan and control your projects and manage your risks Get started now with the software on the accompanying CD Keep up to date with the authors' Web site Software engineers, managers, and students will all find Software Cost Estimation with COCOMO II an invaluable guide to developing and managing successful software projects on time and under budget. About the CD-ROM The accompanying CD-ROM includes a current copy of COCOMO II, along with demonstration versions of three commercial COCOMO II packages and an extensive documentation suite. All examples from the book are provided live, so you can work them hands on, along with the reading. |
| cost estimation methods in project management: Project Management for Engineering, Business and Technology John M. Nicholas, Herman Steyn, 2020-08-02 Project Management for Engineering, Business and Technology is a highly regarded textbook that addresses project management across all industries. First covering the essential background, from origins and philosophy to methodology, the bulk of the book is dedicated to concepts and techniques for practical application. Coverage includes project initiation and proposals, scope and task definition, scheduling, budgeting, risk analysis, control, project selection and portfolio management, program management, project organization, and all-important people aspects—project leadership, team building, conflict resolution, and stress management. The systems development cycle is used as a framework to discuss project management in a variety of situations, making this the go-to book for managing virtually any kind of project, program, or task force. The authors focus on the ultimate purpose of project management—to unify and integrate the interests, resources and work efforts of many stakeholders, as well as the planning, scheduling, and budgeting needed to accomplish overall project goals. This sixth edition features: updates throughout to cover the latest developments in project management methodologies; a new chapter on project procurement management and contracts; an expansion of case study coverage throughout, including those on the topic of sustainability and climate change, as well as cases and examples from across the globe, including India, Africa, Asia, and Australia; and extensive instructor support materials, including an instructor’s manual, PowerPoint slides, answers to chapter review questions and a test bank of questions. Taking a technical yet accessible approach, this book is an ideal resource and reference for all advanced undergraduate and graduate students in project management courses, as well as for practicing project managers across all industry sectors. |
| cost estimation methods in project management: Cost Estimation for Software Development Bernard Londeix, 1987 |
| cost estimation methods in project management: Cost and Value Management in Projects Ray R. Venkataraman, Jeffrey K. Pinto, 2011-08-26 Cost and Value Management in Projects provides practicing managers with a thorough understanding of the various dimensions of cost and value in projects, along with the factors that impact them, and the managerial approaches that would be most effective for achieving cost efficiency and value optimization. This book addresses cost from a strategic perspective, offering thorough coverage of the various elements of value management such as value planning, value engineering and value analysis from the perspective of projects. |
| cost estimation methods in project management: Interactive Video Richard Schwier, 1987 |
| cost estimation methods in project management: The Universal Generating Function in Reliability Analysis and Optimization Gregory Levitin, 2006-02-04 Many real systems are composed of multi-state components with different performance levels and several failure modes. These affect the whole system's performance. Most books on reliability theory cover binary models that allow a system only to function perfectly or fail completely. The Universal Generating Function in Reliability Analysis and Optimization is the first book that gives a comprehensive description of the universal generating function technique and its applications in binary and multi-state system reliability analysis. Features: - an introduction to basic tools of multi-state system reliability and optimization; - applications of the universal generating function in widely used multi-state systems; - examples of the adaptation of the universal generating function to different systems in mechanical, industrial and software engineering. This monograph will be of value to anyone interested in system reliability, performance analysis and optimization in industrial, electrical and nuclear engineering. |
| cost estimation methods in project management: PMP Exam Cram Michael R. Solomon, 2014-10-24 PMP Exam Cram, Fifth Editon Project Management Professional Covers the PMBOK Fifth Edition and 2013 Exam PMP Exam Cram, Fifth Edition, is the perfect study guide to help you pass the 2013 PMP Exam. It provides coverage and practice questions for every exam topic. The book contains an extensive set of preparation tools such as quizzes and Exam Alerts, while the CD-ROM provides real-time practice and feedback with a 200-question test engine. Covers the critical information you’ll need to know to score higher on your exam! --Approach the project management process from PMI’s views on project management --Understand the project management framework --Properly initiate projects --Understand the project planning process --Complete the planned project work --Monitor project work and make necessary changes --Close projects CD Features 200 Practice Questions! --Detailed explanations of correct and incorrect answers --Multiple test modes --Random questions and order of answers --Coverage of each PMP exam topic Pearson IT Certification Practice Test minimum system requirements: Windows XP (SP3), Windows Vista (SP2), Windows 7, or Windows 8 Professional; Microsoft .NET Framework 4.0 Client; Pentium class 1GHz processor (or equivalent); 512MB RAM; 650MB hard disk space plus 50MB for each downloaded practice exam; access to the Internet to register and download exam databases |
| cost estimation methods in project management: Five Core Metrics Lawrence H. Putnam, Ware Myers, 2013 This is the digital version of the printed book (Copyright © 2003). To succeed in the software industry, managers need to cultivate a reliable development process. By measuring what teams have achieved on previous projects, managers can more accurately set goals, make bids, and ensure the successful completion of new projects. Acclaimed long-time collaborators Lawrence H. Putnam and Ware Myers present simple but powerful measurement techniques to help software managers allocate limited resources and track project progress. Drawing new findings from an extensive database of software project metrics, the authors demonstrate how readers can control projects with just Five Core Metrics -Time, Effort, Size, Reliability, and Process Productivity. With these metrics, managers can adjust ongoing projects to changing conditions-surprises that would otherwise cause project failure. |
| cost estimation methods in project management: Estimating Construction Costs Robert Leroy Peurifoy, Garold D. Oberlender, 2001-12-01 Robert Peurifoy was a giant in the field of construction engineering and authored several books during his lifetime. This book last published in 1989 and will capitalize on the well-known name of the author. In this edition, computer calculations of costs and of modeling have been added as well as updated statistics, computer related examples and new problems. Civil, Environmental, and Construction Management Engineering Majors and Professionals will benefit from having this title on their shelf.This edition retains the conceptual strengths of the Peurifoy approach and organization from the previous edition but the new problems and computer-based examples and new up-to-date construction data make it the only choice in academia or industry. |
| cost estimation methods in project management: Collaborative Product and Service Life Cycle Management for a Sustainable World Richard Curran, Shuo-Yan Chou, Amy J. C. Trappey, 2008-08-31 “Collaborative Product and Service Life Cycle Management for a Sustainable World” gathers together papers from the 15th ISPE International Conference on Concurrent Engineering (CE2008), to stimulate the new thinking that is so crucial to our sustained productivity enhancement and quality of life. It is already evident in this new century that the desire for sustainable development is increasingly driving the market to reach for new and innovative solutions that more effectively utilize the resources we have inherited from previous generations; with the obvious responsibility to future generations. Human productivity and progress can be positively engineered and managed in harmony with the provision and needs of our natural environment. One century on from the industrial revolution, this is now the time of the sustainable revolution; requiring holistic technological, process and people integrated solutions to sustained socio-economic enhancement. |
| cost estimation methods in project management: Guidance for Cost Estimation and Management for Highway Projects During Planning, Programming, and Preconstruction Stuart D. Anderson, Keith Robert Molenaar, Cliff J. Schexnayder, National Cooperative Highway Research Program, 2007 'TRB's National Cooperative Highway Research Program (NCHRP) Report 574: Guidance for Cost Estimation and Management for Highway Projects During Planning, Programming, and Preconstruction explores approaches to cost estimation and management designed to overcome the root causes of cost escalation and to support the development of consistent and accurate project estimates through all phases of the development process, from long-range planning, through priority programming, and through project design. NCHRP Web-Only Document 98 details the steps followed by the research team in the development of NCHRP Report 574--Publisher's description. |
| cost estimation methods in project management: New Code of Estimating Practice The Chartered Institute of Building, 2018-05-29 The essential, authoritative guide to providing accurate, systematic, and reliable estimating for construction projects—newly revised Pricing and bidding for construction work is at the heart of every construction business, and in the minds of construction consultants’ poor bids lead to poor performance and nobody wins. New Code of Estimating Practice examines the processes of estimating and pricing, providing best practice guidelines for those involved in procuring and pricing construction works, both in the public and private sectors. It embodies principles that are applicable to any project regardless of size or complexity. This authoritative guide has been completely rewritten to include much more contextual and educational material as well as the code of practice. It covers changes in estimating practice; the bidding process; the fundamentals in formulating a bid; the pre-qualification process; procurement options; contractual arrangements and legal issues; preliminaries; temporary works; cost estimating techniques; risk management; logistics; resource and production planning; computer-aided estimating; information and time planning; resource planning and pricing; preparation of an estimator’s report; bid assembly and adjudication; pre-production planning and processes; and site production. Established standard for the construction industry, providing the only code of practice on construction estimating Prepared under the auspices of the Chartered Institute of Building and endorsed by a range of other professional bodies Completely rewritten since the 7th edition, to include much more contextual and educational material, as well as the core code of practice New Code of Estimating Practice is an important book for construction contractors, specialist contractors, quantity surveyors/cost consultants, and for students of construction and quantity surveying. |
| cost estimation methods in project management: Means Mechanical Estimating Methods: Takeoff & Pricing for HVAC & Plumbing, Updated 4th Edition Melville Mossman, 2007-08-23 An easy-to-use tool for estimating heating, ventilating, and air conditioning systems, with up-to-date cost data and estimating examples. This all-in-one reference gives you the accepted standards and procedures for takeoff and pricing HVAC systems, as well as piping, plumbing, and fire protection. Includes all of the major mechanical systems in new building construction. The book will show you how to: Evaluate mechanical plans and specs so you can estimate all cost components Measure, quantify, and perform takeoffs for materials, labor, and equipment Identify and correctly apply direct and indirect costs, including overhead and profit Use forms to improve accuracy and efficiency – with electronic forms now available on the book’s own website Compare materials and methods and select the most cost-effective way to get the job done Train new estimators with clear instructions for estimating the mechanical trades Make the best use of RSMeans Mechanical Cost Data and RSMeans Plumbing Cost Data Organized for easy reference, the book gives you quick access to whatever aspect of mechanical estimating you need. It includes a glossary of mechanical terms and definitions – plus symbols used on mechanical plans, useful formulas, checklists, and conversion tables. |
| cost estimation methods in project management: Megaproject Management Edoardo Favari, Franca Cantoni, 2020-05-20 The book investigates the various aspects characterizing Megaprojects from numerous perspectives and by integrating different disciplines: engineering, economics, business organization, human resource management, law, etc. It represents the first output of MeRIT (the Megaproject Research Interdisciplinary Team), and focuses on the intrinsic and unavoidable complexity of Megaprojects. The chapters have intentionally not been standardized, and humanistic topics are not separated from technical ones: this way of reading and interpreting Megaprojects through the cross-pollination of various disciplines reflects the MeRIT approach. Addressing the complexity involved in Megaprojects requires the use of a hermeneutic circle of sorts: understanding the project as a whole is achieved by referring to the specific parts, while each part can only be understood in relation to the whole. This circular approach appears to be the only one applicable to Megaprojects: no final destination, no final synthesis can be achieved. This volume consists of eight chapters written by researchers in law, economics, sociology, business organization, engineering, architecture and landscaping. The topics covered will be relevant to researchers, practitioners involved in the development of Megaprojects, and policymakers at the EU level. |
| cost estimation methods in project management: Project Management Gary R. Heerkens, 2001-09-22 This reader-friendly series is a must read for all levels of managers All managers, whether brand-new to their positions or well established in the corporate hierarchy, can use a little brushing-up now and then. The skills-based Briefcase Books Series is filled with ideas and strategies to help managers become more capable, efficient, effective, and valuable to their corporations. Project Management reviews the steps in organizing and managing projects, from how to build a realistic schedule to how to measure both success and failure. A concise and accessible, yet authoritative, guide to a topic in which books are more often lengthy and technical, Project Management discusses team building, timing, the planning process, estimating project costs, managing project interfaces, the four stages of risk management, and more. |
| cost estimation methods in project management: Electrical Estimating Methods Wayne J. Del Pico, 2014-11-17 Simplify the estimating process with the latest data, materials, and practices Electrical Estimating Methods, Fourth Edition is a comprehensive guide to estimating electrical costs, with data provided by leading construction database RS Means. The book covers the materials and processes encountered by the modern contractor, and provides all the information professionals need to make the most precise estimate. The fourth edition has been updated to reflect the changing materials, techniques, and practices in the field, and provides the most recent Means cost data available. The complexity of electrical systems can make accurate estimation difficult, but this guide contains all the necessary information in one place. An electrical estimate represents the total cost for materials, labor, overhead and profit, but accuracy is virtually impossible without a basic knowledge of the field, and real-world experience in the type of work required. Inaccurate estimates lead to problems with customer satisfaction, which often create payment issues. A thorough, complete, and accurate estimate is in the best interest of all parties involved in the work. Electrical Estimating Methods provides more than just data. Detailed discussions about the work itself help highlight factors that may escape notice, and access to the latest cost data helps tie everything together. Features include: Discussion of current equipment, materials, and processes Means data for both residential and commercial projects Case studies that illustrate best practices Online access to the latest Means data for fast access on the job The book discusses specific situations as well as general practices, and provides comprehensive guidance to the creation of a true, current, estimation of costs. For electrical contractors and estimators, Electrical Estimating Methods contains must-have content that simplifies the estimating process. |
| cost estimation methods in project management: System Engineering Management Benjamin S. Blanchard, John E. Blyler, 2016-02-16 A practical, step-by-step guide to total systems management Systems Engineering Management, Fifth Edition is a practical guide to the tools and methodologies used in the field. Using a total systems management approach, this book covers everything from initial establishment to system retirement, including design and development, testing, production, operations, maintenance, and support. This new edition has been fully updated to reflect the latest tools and best practices, and includes rich discussion on computer-based modeling and hardware and software systems integration. New case studies illustrate real-world application on both large- and small-scale systems in a variety of industries, and the companion website provides access to bonus case studies and helpful review checklists. The provided instructor's manual eases classroom integration, and updated end-of-chapter questions help reinforce the material. The challenges faced by system engineers are candidly addressed, with full guidance toward the tools they use daily to reduce costs and increase efficiency. System Engineering Management integrates industrial engineering, project management, and leadership skills into a unique emerging field. This book unifies these different skill sets into a single step-by-step approach that produces a well-rounded systems engineering management framework. Learn the total systems lifecycle with real-world applications Explore cutting edge design methods and technology Integrate software and hardware systems for total SEM Learn the critical IT principles that lead to robust systems Successful systems engineering managers must be capable of leading teams to produce systems that are robust, high-quality, supportable, cost effective, and responsive. Skilled, knowledgeable professionals are in demand across engineering fields, but also in industries as diverse as healthcare and communications. Systems Engineering Management, Fifth Edition provides practical, invaluable guidance for a nuanced field. |
| cost estimation methods in project management: How to be a Better-- Project Manager Trevor Leonard Young, 1996 Lively and easy to read, the books in this dynamic new series are clear, concise action-oriented and up-to-date summaries of a particular management skill. Providing practical advice that any employee can apply immediately in their day-to-day work, each book in the series includes: -- practical tips for improving personal skills -- checklist and diagrams -- short case studies. Project-based work is rapidly becoming the mainstay of many organizations but all too easily projects can go off the rails. Illustrated throughout with checklists, diagrams and templates for running effective projects, this step-by-step guide provides a dear plan to help: -- keep control of costs -- ensure that project timetables are set and adhered to, and -- make use of computer systems in tracking projects. Complete with a detailed glossary. |
Costco Wholesale Corporation (COST) - Yahoo Finance
Find the latest Costco Wholesale Corporation (COST) stock quote, history, news and other vital information to help you with your stock trading and investing.
COST Stock Price | Costco Wholesale Corp. Stock Quote (U.S ...
3 days ago · COST | Complete Costco Wholesale Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
COST Definition & Meaning - Merriam-Webster
The meaning of COST is the amount or equivalent paid or charged for something : price. How to use cost in a sentence.
COST | English meaning - Cambridge Dictionary
COST definition: 1. the amount of money needed to buy, do, or make something: 2. the amount of money needed for a…. Learn more.
Cost - definition of cost by The Free Dictionary
cost - value measured by what must be given or done or undergone to obtain something; "the cost in human life was enormous"; "the price of success is hard work"; "what price glory?"
Cost - Definition, Meaning & Synonyms - Vocabulary.com
The cost of something is how much money you need to spend on it. The high cost of a fancy coffee drink might surprise you. A new car costs thousands of dollars, while in some places …
What is a Cost? - Definition | Meaning | Example
Definition: A cost is an expenditure required to produce or sell a product or get an asset ready for normal use. In other words, it’s the amount paid to manufacture a product, purchase inventory, …
Costco Wholesale Corporation (COST) - Yahoo Finance
Find the latest Costco Wholesale Corporation (COST) stock quote, history, news and other vital information to help you with your stock trading and investing.
COST Stock Price | Costco Wholesale Corp. Stock Quote (U.S ...
3 days ago · COST | Complete Costco Wholesale Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
COST Definition & Meaning - Merriam-Webster
The meaning of COST is the amount or equivalent paid or charged for something : price. How to use cost in a sentence.
COST | English meaning - Cambridge Dictionary
COST definition: 1. the amount of money needed to buy, do, or make something: 2. the amount of money needed for a…. Learn more.
Cost - definition of cost by The Free Dictionary
cost - value measured by what must be given or done or undergone to obtain something; "the cost in human life was enormous"; "the price of success is hard work"; "what price glory?"
Cost - Definition, Meaning & Synonyms - Vocabulary.com
The cost of something is how much money you need to spend on it. The high cost of a fancy coffee drink might surprise you. A new car costs thousands of dollars, while in some places …
What is a Cost? - Definition | Meaning | Example
Definition: A cost is an expenditure required to produce or sell a product or get an asset ready for normal use. In other words, it’s the amount paid to manufacture a product, purchase inventory, …
