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.
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