Learning Curves in Project Cost Estimates [video]
Abstract
Estimating project costs is a primary task for managing projects. Estimates made during the planning stage of a project need to accurately reflect future costs as closely as possible in order to provide a good baseline for tracking budget expenditures during execution of the project. If costs are expected to come down as workers or the organization gain experience, then learning curves must be incorporated into the estimating process to increase the accuracy of the estimates. Often however, during the execution phase of the project, events can take place that interfere with the learning process resulting in actual costs exceeding those estimated. This session will discuss some of these events and how to adjust the learning curves to properly reflect the impact of these events.
Description
Naval Postgraduate School Graduate School of Engineering & Applied Sciences, Learning curves in project cost estimates presented by Charles J. Teplitz, Professor of Decision Sciences & Chair, Operations / Supply Chain / Information Management, University of San Diego School of Business Administration.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.Collections
Related items
Showing items related by title, author, creator and subject.
-
A New Learning Curve for Department of Defense Acquisition Programs: How to Account for the "Flattening Effect" [video]
Elshaw, John; Koschnick, Clay; Hogan, Dakotah; Ritschel, Jonathan; Badiru, Adedeji B. (Monterey, California. Naval Postgraduate School, 2021-05-19); SYM-AM-21-212; SYM-AM-21-127Traditional learning curve theory assumes a constant learning rate regardless of the number of units produced; however, a collection of theoretical and empirical evidence indicates that learning rates decrease as more units ... -
A New Learning Curve for Department of Defense Acquisition Programs: How to Account for the "Flattening Effect"
Elshaw, John; Koschnick, Clay; Hogan, Dakotah; Ritschel, Jonathan; Badiru, Adedeji B. (Monterey, California. Naval Postgraduate School, 2021-05-10); SYM-AM-21-112Traditional learning curve theory assumes a constant learning rate regardless of the number of units produced; however, a collection of theoretical and empirical evidence indicates that learning rates decrease as more units ... -
Maturity curve of Systems Engineering
de Souza, Roy Alphonso. (Monterey, California. Naval Postgraduate School, 2008-12);Systems Engineering is a profession, a philosophy and a discipline that adopts an iterative and parallel problem identification and solution seeking process, coupled with a collaborative and integrated multi-disciplinary ...