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Project management Estimating

Project management Estimating

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Published by: api-27145250 on Oct 18, 2008
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Project Management
Project Management
Spring 2007
Spring 2007
Est imat ing
Est imat ing
1. 040/ 1. 401
1. 040/ 1. 401
Dr . SangHyun Lee
Depart ment of Civil and Environment al Engineering
Depart ment of Civil and Environment al Engineering
Massachusetts Institute of Technology
Massachusetts Institute of Technology
Project Management Phase
Project Management Phase
FEASIBILITY
DEVELOPMENTCLOSEOUT
OPERATIONS
Fin.&Eval.
Risk
Estimating
Estimating
Planning
DESI GN
DESI GN
PLANNING
PLANNING
Organization
Estimation Levels
Estimation Levels-
-Introduction
Introduction
Source: Barrie & Paulson, 1992
\ue002
\ue002Different types of estimates are required as a project evolves
Different types of estimates are required as a project evolves
\ue002
\ue002Conceptual & Preliminary Estimates
Conceptual & Preliminary Estimates
\ue002
\ue002Prepared early in the project prior to engineering design comple
Prepared early in the project prior to engineering design completion (e.g., to
tion (e.g., to
tell Owner whether the contemplated project scope is feasible)
tell Owner whether the contemplated project scope is feasible)
\ue002
\ue002Incorporate new information from design to obtain an updated est
Incorporate new information from design to obtain an updated estimate of
imate of
the project
the project
\ue002
\ue002Detailed Estimates
Detailed Estimates
\ue002
\ue002Prepared from completed plans and specifications
Prepared from completed plans and specifications
\ue002
\ue002Definitive Estimates
Definitive Estimates
\ue002
\ue002Forecast the project cost within allowable limits from a combina
Forecast the project cost within allowable limits from a combination of
tion of
conceptual and detailed information often including partial cont
conceptual and detailed information often including partial contract and
ract and
other procurement awards
other procurement awards

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