Cost estimating, as a process
Five steps, in the order they happen. Each one produces a deliverable the next depends on, and the estimate that results is consistent, traceable and fit for the decision it supports.
Cost estimate development plan
Define how the estimate will be produced before pricing starts: its class and purpose, scope basis, expected maturity, estimating method by WBS element, cost basis, deliverables, reviews, schedule and responsibilities.
Scope development and WBS
Build the estimating structure from the project scope, discipline interfaces and design information so material scope is identified before it becomes a gap in the estimate.
Cost estimate development
Feasibility, study, budget, control and tender estimates built to the plan and matched to the maturity of the project definition. The estimating method develops with the design, from parametric and benchmark-based approaches through detailed quantities and pricing.
Basis of Estimate and estimate documentation
Record how the estimate was developed, including sources, methods, assumptions, exclusions, allowances, risk and pricing basis, so it can be understood, reviewed and updated as the project develops. The BOE records the basis established in the estimate plan and what changed during execution.
Benchmarking and estimate validation
Test the estimate against comparable projects, historical cost data, unit rates, productivity and market information to confirm whether the overall cost and major cost drivers are reasonable.
Every service starts with the same question: what does the project actually include?
Scope first, then method, then number. The class of estimate follows from what the deliverables can support, never from the deadline.
Assurance and support
Independent challenge of an estimate prepared elsewhere, and extra capacity when the deadline is fixed.
Peer review and independent estimate review
Independent review of an estimate prepared by another team, focused on scope completeness, methodology, quantities, rates, productivity, indirect costs, risk and material assumptions.
Short-notice estimating support
Experienced estimating support when a project, tender or internal deadline requires additional capacity quickly. Work can be performed within the client’s estimating structure, templates and procedures, or as a defined standalone assignment.
Not sure which one you need? Tell us where the project is and what decision the number has to support. We will say which service fits.
Ask us which fits →