Who is responsible for preparing independent cost estimates for all ACAT ID programs?

Who is responsible for preparing independent cost estimates for all ACAT ID programs?

Per the DoD 5000 series, a CARD shall be prepared for all ACAT I and ACAT IA programs. The DoD component sponsoring the acquisition program is responsible for preparation of the CARD, in coordination with appropriate IPT members.

What is independent cost estimate?

A. The independent cost estimate is a tool to assist in determining the reasonableness or unreasonableness of the bid or proposal being evaluated and is required for all procurements regardless of dollar amount.

Which one of the following organizations is responsible for preparing independent cost estimates for all ACAT 1D programs?

The responsibility for the ICE for: ACAT 1D: Director of Cost Assessment & Program Evaluation (DCAPE)

What are the three types of cost estimates?

The three types of cost estimates are design, bid, and control estimates. Design estimates are prepared in the project preliminaries which gives the order of magnitude of the project cost.

What cost estimating technique would be?

Cost Estimating Techniques Parametric: The parametric technique uses regression or other statistical methods to develop Cost Estimating Relationships (CERs). A CER is an equation used to estimate a given cost element using an established relationship with one or more independent variables.

What cost estimating technique would be most appropriate?

Generally, the cost estimating technique used for an acquisition program progresses from the analogy to actual cost method as that program becomes more mature and more information is known. The analogy method is most appropriate early in the program life cycle when the system is not yet fully defined.

How are independent estimates used?

Part of the tools used in conduct procurement is the independent estimates. It is a project management process that uses the third party to collect as well as analyze information. The information is then used to predict the cost and schedule of the project.

What are the four cost estimating methods?

The four major analytical methods or cost estimation techniques used to develop cost estimates for acquisition programs are Analogy, Parametric (Statistical), Engineering (Bottoms Up), and Actual Costs.

What is a Class 5 cost estimate?

Order-of-Magnitude Estimates (Class 5) An order-of-magnitude estimate is prepared when little or no design information is available for the project. It is called order of magnitude because that may be all that can be determined at an early stage.

What is a ballpark estimate?

A ballpark figure is a rough numerical estimate or approximation of the value of something that is otherwise unknown. Ballpark figures are commonly used by accountants, salespersons, and other professionals to estimate current or future results.

What are the four common cost estimating methods?

What are the basic cost estimation tools and techniques?

Top 10 Tools and Techniques to Estimate Project Cost

• Expert Judgement. While estimating the project cost, the first step is to take the comments from the experts.
• Analogous Estimation.
• Parametric Estimation.
• Bottom-Up Estimation.
• Three-Point Estimation.
• Reserve Analysis.
• Cost of Quality.
• Project Management Software.