Cost estimating and forecasting - What does good look like? Preston

15 November, 2017 | 18:30 - 20:00

What does good forecasting look like?
What does good forecasting look like?

About this event

The talk will aim to identify and substantiate what is good practice in terms of cost estimating forecasting in the engineering industries. Whilst domain knowledge within a sector is of paramount importance to give the appropriate context and interpretation of requirements and information, the underlying skills, methods and techniques of the estimator/forecaster are fundamentally generic across all industry sectors, and link through to good project management disciplines.

The talk and discussion will attempt to ask and address the following questions:

  • Is it possible to have a robust estimating process that is also flexible? Why does it need to be flexible?
  • Does a robust estimating process mean a more accurate estimate, or just an estimate that is more precisely wrong? Isn't an estimate only as good as the last set of assumptions?
  • What's the difference between an Approach, Method and Technique, and how many different ones are there?
  • What is meant by a 3-Point Estimate; isn't that just avoiding the question?
  • How do we deal with Risks and Opportunities? What is good practice, and what is questionable practice?
  • Who should be involved in the estimating process? Is it just the "number jockeys", and if not, who else gets to share in the blame?

Speaker: Alan R Jones

Refreshments will be served from 18:00 for a meeting start of 18:30.

Contact

For more information, please contact:

Kenton Chong
e: kenton.chong@lancashire.gov.uk

Organised by ICE Lancashire Branch joint with APM NW

Event materials

The following materials are available for download:

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