In April 2024, Larry Dysert will be presenting on the topic of Cost Estimating Best Practices to Enhance Decision-Making.
Economic evaluation forms the cornerstone of most project authorization decisions, a fundamental principle that holds true even for projects driven by necessity rather than profitability. In such cases, the role of economics remains pivotal in evaluating and distinguishing between competing options.
At the core of this evaluative process lies the meticulous preparation of an all-encompassing and dependable cost estimate.
A well-constructed cost estimate serves as the foundation for assessing a project's financial feasibility, offering multi-faceted support for a wide range of project-related decisions. Its value transcends mere numbers, extending to diverse functions such as supporting comparative analyses of alternative courses of action, facilitating fiscal budgeting, aiding in resource allocation, promoting transparent stakeholder communication, proactively managing risk, and ensuring alignment with overarching strategic objectives.
The preparation of thorough and reliable cost estimates is not just best practice but an imperative to maximize investment performance. It provides the necessary foundation for making well-informed decisions. In this presentation, Mr. Dysert will illuminate exemplary practices in cost estimation, ultimately equipping decision-makers with the insights required for informed, strategic judgments.