Includes ACE and POST
Course Length: 2 Day (8:30am – 4:30 pm)
Prerequisites: Students must have basic knowledge of algebra, spreadsheet operations, and the cost estimating process and underlying principles (e.g., WBS, learning curves, inflation indices, estimating methodologies, project planning/financial management).
Objective: This course is designed for those in a position to review estimates. It focuses on techniques for reviewing and understanding equations/functions, documentation, time phasing methods, uncertainty specifications, what-if cases, and outputs in an existing ACE model. Each section explores a different topic or set of related topics using examples, instructor exercises and student exercises.
· Reviewing an Estimate
o Automated Cost Estimator (ACE) Overview
o Becoming familiar with an Existing ACE Model
o Viewing Model Documentation and Reports
o Understanding Time Phasing Methods
o Equations and Time Period (T) Functions
o Reviewing the Model’s Uncertainty Assumptions and Results
o Reviewing What-if Cases
o ACE and POST Outputs