This work provides principles & techniques for the evaluation of construction design, emphasizing the importance of strong analysis skills & exploring estimation. It aims to provide readers with a balanced & cohesive overview of these two areas.

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.

Changes in production processes reflect the technological advances permeat ing our products and services. U. S. industry is modernizing and automating. In parallel, direct labor is fading as the primary cost driver while engineering and technology related cost elements loom ever larger. Traditional, labor-based ap proaches to estimating costs are losing their relevance. Old methods require aug mentation with new estimating tools and techniques that capture the emerging environment. This volume represents one of many responses to this challenge by the cost analysis profession. The Institute of Cost Analysis (lCA) is dedicated to improving the effective ness of cost and price analysis and enhancing the professional competence of its members. We encourage and promote exchange of research findings and appli cations between the academic community and cost professionals in industry and government. The 1990 National Meeting in Los Angeles, jointly spo~sored by ICA and the National Estimating Society (NES), provides such a forum. Presen tations will focus on new and improved tools and techniques of cost analysis. This volume is the second in a series. The first was produced in conjunction with the 1989 National Meeting of ICA/NES in Washington, D.C. The articles in this volume, all refereed, were selected from about 100 submitted for presen tation at the Los Angeles meeting.

The authors present the latest principles and techniques for the evaluation of engineering design. The text is suitable for undergraduate or graduate courses in cost estimating in engineering, management and technology settings.

The environment for today's cost estimator and analyst is certainly very challenging. Computerization, software, robots, composites, uncertainty, and inte grated systems all challenge the applicability of our existing tools and techniques. These Proceedings serve to document some of the completed and on-going re search in the dynamic world of costing. This document is published in conjunction with the first Society of Cost Es timating and Analysis (SCEA) National Conference, held in Boston, MA, June 19-21,1991. It serves to foster and promote cost research, and to provide a forum to report these findings in furtherance of public interest. This volume is the third of the series. The first and second were published in conjunction with the 1989 ICNNES Joint Conference in Washington, D.C., and the 1990 ICNNES Joint Conference in Los Angeles. My thanks to our Editors, Professor Jane Robbins and Dr. Roland Kankey; our Managing Editor, Mr. Frank Hett; the Program Chair, Ms. Ann-Marie Sweet; and all those who contributed. R. R. Crum, President Society of Cost Estimating and Analysis PREFACE We wish to thank the professionals who submitted papers to us for review. As any editor will indicate, you cannot review or publish papers that are not sub mitted. The articles in this Proceedings successfully completed the referee process. Each of these authors was rewarded by an additional cycle of minor changes, word processing, and express mailings.

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.