Course Descriptions

Fundamental Estimating and
Analysis Methods Courses

These Courses are available On Demand for Customized Onsite Training.
Please Contact amanda.rivera@pricesystems.com for more information

PRICE Systems offers Fundamental Estimating and Analysis Methods courses that are available on-demand for customizable training sessions at your facility. These courses provide introductory and advanced training into the key fundamental concepts and principles of various cost estimating disciplines, ideal for both those new to the field and long time practitioners. The courses incorporate lectures, group discussions, and exercises to effectively convey subject matter.

Fundamentals of Cost Estimating

This course is designed to show participants the basic principles, practices and processes in completing a cost estimate. The course presents practical techniques and tools to develop a credible cost estimate. It covers, in depth, such topics as learning curve theory, Cost Estimating Relationship (CER) development, data collection and analysis, time phasing and escalating the estimate, conducting cost risk analysis, and life cycle and total ownership cost estimating.

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Fundamentals of Hardware Cost Estimating

This course focuses on providing techniques, concepts, principles, and theories for estimating hardware equipment. Students will learn the commonly used estimating methods and when to apply each. The seminar includes discussions on developing cost estimating relationships, properly applying learning curve theory, "pricing" the estimate, and performing cost risk analysis

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Fundamentals of Software Cost Estimating

This course is designed to provide practical techniques, tools, tips, and recommendations for developing credible and accurate software project cost estimates. The course covers, in depth, the following topics: estimation methods and steps, measuring software size and quality, estimating code growth and risk reserves, estimating software support, using productivity metrics to estimate projects, and estimating Commercial Off-the-Shelf software implementation projects.

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Bid & Proposals

The process of preparing responsive, appealing, credible, competitive, and convincing bids and proposals is both time-consuming and costly. Proposal preparation is a challenging and demanding exercise that requires the dedication of key personnel. Further, meeting customer affordability requirements is often crucial, since typically 80% of a project's costs are committed based on decisions during concept development.

This course is designed to highlights the vital components of preparing faster and better bids and proposals utilizing the parametric estimating methodology. Attendees will gain valuable tips on how to prepare responsive, appealing, credible, competitive, and convincing bids and proposals quicker and with fewer resources than the typical bottom-up approach. The course integrates lectures and exercises that deal with proposal preparation, developing a "win strategy," affordability management tools (such as CAIV, TOC, and Target Costing), make versus buy decisions, "ghosting" the competition, and vendor/subcontractor benchmarking.

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Evaluation of Contractor Cost Proposals

The federal government procurement environment has changed dramatically over the past several years as acquisition reforms and initiatives have been implemented. Meanwhile, the Parametric Cost Estimating Initiative (PCEI) has revolutionized and fostered the use of parametric estimates as the primary Basis of Estimate (BOE) for bids and proposals. These developments have elevated the importance of the cost analyst's role during a source selection.

This three-day workshop highlights the PCEI, examines the use of parametrics in view of federal guidelines and regulations, dissects how contractors use parametric estimating techniques as their primary estimating methodology, and surveys the acquisition landscape and how it impacts the cost analysis function. Using lectures, case studies and group discussions, this course will provide government personnel with effective, immediate-use information regarding concepts, principles, and techniques to evaluate a PRICE-based cost estimate.

Upon course completion, government cost analysts will be able to quickly sift through intricate and voluminous cost proposals, focusing their attention on the "real" cost drivers and instantly recognizing the common pitfalls and mistakes that contractors make.

Note: while there are no formal pre-requisites for this class, it is suggested that the student have taken either PRICE H or S training.

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Procurement Supplier Assessment

This one-day seminar addresses procurement practices that can most benefit from PRICE solutions. We will demonstrate real applications that show how improved hardware/software project estimating and control can deliver real gains in the procurement process.

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Total Ownership Cost

This one-day seminar gives an overview of Total Ownership Cost (TOC), the Department of Defense's initiative to control cost on new weapon systems and modifications on old weapon systems. The course will examine the cost elements (research and development, procurement, military construction, operating and support, and decommissioning/demilitarization) of this initiative.

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Cost as an Independent Variable

Cost as an Independent Variable (CAIV) entails setting aggressive, realistic cost objectives for acquiring defense systems, and managing program risks to achieve those objectives. Cost objectives must balance mission needs with projected out-year resources, taking into account existing technologies as well as the high-confidence matriculation of new technologies.

This one-day seminar introduces students to the concepts and philosophy of CAIV, the various aspects of CAIV, the benefits of using CAIV, and the guidelines for its implementation based on real-world experiences in industry and government. This course provides an overview of the CAIV Maturity Process, an objective evaluation process that measures an organization's current program management environment with respect to meeting CAIV compliance goals. Real-world examples are used to challenge trainees and reinforce important concepts.

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Earned Value Management Concepts Course

This course introduces the fundamental objectives, processes and importance of integrated baseline planning for EVM. The seminar is designed to provide the essential aspects of Work Breakdown Structure Development, integrated scheduling to support EVM planning, budgeting concepts, and integration of performance measurement techniques. The EVM Baseline Planning Overview course also provides a summary overview of the objectives and processes involved in the ANSI-748 Integrated Baseline Review.

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Project Cost Management

This course is designed to assist program/project managers, proposal managers, contract and engineering managers apply world-class tools and methods to promote more effective risk managements, critical path analysis, and performance measurement as they relate to project cost management. Topics include schedule analysis, cost estimating and budgeting, performance measurement, change control, and risk management.

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GAO Cost Guide

This course addresses the Cost Assessment Guide released in mid-2007 by the Government Accountability Office (GAO), particularly its impact on Government and Industry. Four fundamental themes are discussed: (1) the twelve-step Cost Estimating Process and why it represents best practices; (2) Requirements and Technical Baseline Documents: defining what Program Offices want and why they want it; (3) Program Risk and Uncertainty: dealing with uncertainty, budgeting and scheduling for success, and; (4) Linking Estimating with EVM and Risk Management: end-to-end cost management, early warnings, and knowledge growth.

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Affordability Companion

This course provides a fundamental instruction in the use of the Affordability Companion, an “add-in” that enables integration and interoperability between engineering tools (Pro/Engineer) and the TruePlanning® framework to effectively conduct affordability simulation and understand the value of cost integration.

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Business Case Analysis

A basic Business Case Analysis provides an evaluation of implementation and operational costs as well as quantifiable and unquantifiable benefits by stakeholder.  This course is intended to provide a methodology behind BCA as well as the enabling mechanics found in TP 2009.

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