IDSC04H3 Lecture Notes - Lecture 8: Work Breakdown Structure, 2000 Miles, Point Estimation
6 Feb 2018
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Document Summary
Consider the proposed us border wall with mexico, pres. Donald trump used parametic estimation for the cost estimate i. e. $/per mile for 2000 miles = total cost. Uses project characteristics (parameters)) in a mathematical model to estimate project costs. Use statistical or logical methods and rates derived from similar projects. Cost of programming an operating system is /line per line of code. Cost of prime location corporate headquarters is $ 2000/ sq. m. Cost of school construction in urban areas is $ 1000/sq. m. Cost per student enrolled in primary school is per primary school student assuming x students per teacher. Cost per cure of dots treatment/cure for tb patients. Cos estimates may very widely as in the case of the wall separating mexico and the us. One way to reconcile these varying estimates is by using a 3 point estimate (pert analysis) This technique uses three estimates to calculate the average estimate.
