OS4702: Cost Estimation II: Advanced Concepts in Cost Estimating - NPS Online
Cost Estimation II: Advanced Concepts in Cost Estimating
Course #OS4702
Est.imated Completion Time: 3 months
POC: NPS Online Support
Overview
This course is the second of three sequential cost estimation courses. It provides a broad-based understanding of the cost estimating principles applied to various fields of the acquisition and support of DoD systems. It introduces topics such as Cost Estimating Relationships, non-Ordinary Least Squares methods, Software Cost Estimating, Labor Pricing, Source Selection Process, Cost Management, EVMS, and higher level Regression Applications.
Included in degrees & certificates
- 289
- 379
Prerequisites
- OS3701
- OA4702
Learning Outcomes
At the end of this course, students should be able to
• Gain proficiency in software cost estimating and Agile development best practices including:
- Different methods for sizing the software development effort (e.g., SLOC, Function Points, etc.)
- Various software development paradigms (e.g., Spiral, Waterfall, Incremental, and Agile)
- Developing software cost estimating relationships (CERs) using regression techniques
• Develop a basic understanding of scheduling best practices including:
- Capturing all activities and creating a logically sequenced activity network
- Estimating work and durations and assigning resources
- Validating the critical path and ensuring that there is reasonable total float
- Analyzing schedule risk
- Verifying and validating that the schedule has horizontal and vertical traceability
- Setting and documenting the baseline
- Managing changes and updating status so that management uses the schedule for decisions
• Know what an earned value management system (EVM) represents and how it tracks progress by:
- Defining the scope of work using a WBS
- Identifying who in the organization will perform the work
- Scheduling the work using the critical path method
- Estimating the labor and material required and authorizing budgets including MR
- Determining objective measures of earned value
- Developing the performance measurement baseline (PMB) for tracking progress
- Executing the work plan and recording all costs
- Analyzing EVM performance data and recording variances from the PMB plan
- Forecasting estimates at completion (EACs) using EVM data
- Conducting an integrated cost-schedule risk analysis
- Comparing EACs from EVM to the EAC from the risk analysis
- Taking management action to mitigate risks
- Updating the PMB as changes occur
Application Deadlines
No upcoming deadlines.
Academic Calendar
No upcoming events.