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(EST-3360) An Overview of Deterministic Estimating

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Level: Basic
TCM Section(s): 7.3. Cost Estimating and Budgeting
Venue: 2020 AACE International Conference & Expo

Abstract: The focus of this paper is to provide a detailed overview of deterministic estimating and will include: 1. methodology of a deterministic estimate; 2. the variations of detailed estimates (detailed, semi-detailed, and forced detailed); 3. Application of deterministic estimates based on the level of scope development or estimate class; 4. Preparation of a deterministic cost estimate and prerequisite items; 5. Adjustment allowances to account for productivity, escalation, contingency, etc. and 6. Challenges faced with the development of a deterministic estimate.