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Babcock Training Academy

We deliver world-class training in complex systems to AUS/NZ defence, government and high tech markets

Office Address

Babcock Training Academy
Level 10 70 Franklin Street Adelaide  SA  5000

Contact Details

Training Project Support
T:   +61 (0)8 8440 9507
F:   +61 (0)8 8312 3227
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Cost Estimation Master Class

Course Description

Many projects require reliable cost estimates very early in the life cycle. At this point in time, both the technology and development strategy are often unknown. Estimators and decision makers do not have access to the usual information about cost drivers at the level of precision desired. Nonetheless, an estimate must be produced. In these circumstances, it is common that a broad range of information is available about the project, but it is not in a form that is suited to directly answer the question “How much will the product cost?” We will present a method called QUELCE (Quantifying Uncertainty in Early Life Cycle Cost Estimation) that helps cost estimators identify relevant characteristics of a project that we call program change drivers. By modeling the uncertainty and risk associated with these program change drivers along with information about the system to be produced, this method estimates a distribution for the cost of the project that incorporates the uncertainties at this early point in the lifecycle. We will also provide a mechanism to assess the risk intelligence of participants through a hands-on activity to calibrate the confidence of decision makers in light of uncertainty.

Participants will:

Understand how QUELCE can be used to develop cost estimates early in the life cycle Map project characteristics to the COCOMO cost model Capture project uncertainties with statistical distributions Develop an understanding of their own confidence about project uncertainties Presented in conjunction with the Improving Systems & Software Engineering Conference (http://www.issec.com.au/)

Target Audience

Course Outline

Course Details

Course start
Course end
Individual price
Extra Information To secure your seat please submit a Registration Form. If you are waiting for financial/supervisor approval you are welcome to reserve a seat without commitment. Please note that the course fee is ex GST. We thank you for your interest and look forward to hearing from you.
Course location
Please register your interest in this course by contacting Babcock on +61 (0)8 8440 1498

Register Here!

Registering for one of our courses is easy! Simply fill out one of the below Course Registration Forms and return via email to training@babcock.com.au

Course Registration Form - Individual Registration Form

Course Registration Form - Group Registration Form

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GST Terms

All prices shown are Exclusive of GST. GST of 10% will be added to all invoices