In order to receive proof of
CEU credits, you must watch this presentation in its entirety and complete the
survey.
Level: Basic
TCM Section(s):
10.4. Project Historical Database Management
7.3. Cost Estimating and Budgeting
Venue: 2021 AACE International Conference & Expo
Abstract: The Office of Programming, Analysis, and Evaluation (PA&E), NA-MB-90 within the National Nuclear Security Administration (NNSA) is charged with leading programmatic cost estimating and associated analytical support throughout the Federal budgeting process.As part of this effort, the office has developed a benchmarking tool that incorporates both similar historic projects and modeled parametric results.This tool enables analysts to rapidly assess the reasonableness of newly proposed estimates based on simple high-level factors such as facility size, facility hazard category, and equipment complexity.
The development team created the tool by normalizing cost and schedule data from completed and near-completed projects. The benchmarking tool outputs graphics comparing the proposed estimates with a similar set of analogous facilities.The graphs also compare the estimates with prediction intervals developed from a set of NNSA parametric cost and schedule estimating relationships, previously presented at the 2019 AACE International Conference & Expo. Applications include the generation of standard, data-informed visualizations to help decision makers understand estimates in a broader historical context and to also aid analysts in tracking estimate variability over time.
Level: Basic
TCM Section(s):
10.4. Project Historical Database Management
7.3. Cost Estimating and Budgeting
Venue: 2021 AACE International Conference & Expo
Abstract: The Office of Programming, Analysis, and Evaluation (PA&E), NA-MB-90 within the National Nuclear Security Administration (NNSA) is charged with leading programmatic cost estimating and associated analytical support throughout the Federal budgeting process.As part of this effort, the office has developed a benchmarking tool that incorporates both similar historic projects and modeled parametric results.This tool enables analysts to rapidly assess the reasonableness of newly proposed estimates based on simple high-level factors such as facility size, facility hazard category, and equipment complexity.
The development team created the tool by normalizing cost and schedule data from completed and near-completed projects. The benchmarking tool outputs graphics comparing the proposed estimates with a similar set of analogous facilities.The graphs also compare the estimates with prediction intervals developed from a set of NNSA parametric cost and schedule estimating relationships, previously presented at the 2019 AACE International Conference & Expo. Applications include the generation of standard, data-informed visualizations to help decision makers understand estimates in a broader historical context and to also aid analysts in tracking estimate variability over time.