An Analytical Cost Estimation Procedure
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An Analytical Cost Estimation Procedure

Filetype[PDF-723.55 KB]


  • English
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    • Creators:
      Jayachandran, Toke
    • Corporate Creators:
      Naval Postgraduate School (U.S.)
    • Corporate Contributors:
    • Subject/TRT Terms:
    • Publication/ Report Number:
    • Resource Type:
      Research Paper
    • Geographical Coverage:
      United States
    • Corporate Publisher:
      United States. Coast Guard
    • Abstract:
      The U.S. Coast Guard has recently developed a new desktop-computer based cost analysis software system called PACE' (Project Analysis and Cost Estimating). It is intended for use by Coast Guard personnel to assess the cost of a new project such as the replacement of an existing hangar with a new modernized hangar, or to analyze cost issues associated with the acquisition of a new cutter. The inputs to the system are the various factors/variables that influence cost. In the case of a hangar replacement, these factors could relate to the demolition of an existing hangar, environmental cleanup, building a new hangar, including the construction costs per square foot, and the number of supervisory personnel required. It is the intent that PACE will be used as a vehicle to perform sensitivity and trade off analyses to arrive at an "optimal minimum cost option" before requesting funding for the project. It is also expected that when PACE is fully functional, it will be used to perform many of the day-to-day budget related computations. Coast Guard analysts will be able to use PACE to obtain preliminary information as to which of the cost factors that are within their control offer the best leverage for cost optimization. For the hangar replacement example, the Coast Guard has control over the size and arrangement of a new hangar as well as the number and the ranks of the supervisory personnel needed. They may want to know which one of these two factors has the better potential for cost reduction. The initially assigned values for each of the controllable cost factors is decreased by a certain fixed percentage (say 10%) and the resulting change in the project cost is noted; it may be useful to store the cost outputs for future reference and analysis. Those factors that did not produce a significant cost change, i.e., the cost savings did not exceed a preselected minimal threshold value (say 5%) are eliminated from further consideration. The remaining variables can then be rank ordered in terms of their importance for reducing cost.
    • Format:
      PDF
    • Funding:
      MIPR NO DTCG39-98-X-EO0240
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