The Characteristics of Credible Cost Estimates and a Reliable Process for Creating Them

March 2009
GAO Reports;3/2/2009, p5
Government Documents
The article outlines several characteristics of cost estimates for systems acquisitions based on the U.S. Government Accountability Office's (GAO) 1972 report entitled "Theory and Practice of Cost Estimating for Major Acquisitions." These include clear identification of task, broad participation in preparing estimates, and availability of valid data. The report noted several steps for creating cost estimates including defining estimate's purpose, developing estimating plan, and obtaining data.


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