The cornerstone of successfully establishing and completing any project or program is a rational cost and schedule estimate. These estimates are the basis for trade-off studies and management decisions regarding realistic project lifecycle planning.
Cost and schedule estimates are appropriate at any lifecycle level (conceptual, pre-proposal, proposal evaluation, start of development, in-process or post-mortem). An estimate is useful at any point during a project or program for the purpose of verification of scope, quality, cost and schedule performance.
Cost estimating activities include:
• Independent estimates
• Contractor evaluations
• Proposal evaluations
• Post-mortem calibrations
• Organization calibration
• Cost-to-complete estimates
• Cost estimation seminars and workshops
The STSC retains one of the most recognized names in software cost estimation, Dr. Randall Jensen. Dr. Jensen has over 25 years of cost estimation experience and is the creator of the Jensen Model, which is the basis for the JS1, JS2, System 3, SEER-SEM estimating systems, and the Jensen II Model, which is the basis of the Sage estimating system. Dr. Jensen is also the author of four books (IBM Electronic Circuit Program Analysis: Techniques and Applications, Handbook of Circuit Analysis Languages, Network Analysis: Theory and Computer Methods, Software Engineering and Extreme Software Estimating (in progress) and various published articles on software cost estimation.
The STSC has assembled an estimating team, led by Dr. Jensen. This team concept allows for consistency, error reduction, and more realistic estimates than produced by traditional methods.
Cost estimates can make or -break a project. It is essential to give every project the best chance of success in an industry riddled with costly failures. Begin better planning by contacting randall.jensen@hill.af.mil today.
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