Cost Estimating is beset with pitfalls. Which technique to use? How accurate will it be? This book aims to shed light on these questions. It presents a structured analysis of cost estimating and helps cost estimators make contract-winning estimates for projects relevant to both the budding cost engineer and the reader who simply wants to know how these things are done. After all, if the cost estimator gets it wrong, the implication affects the whole project! Exploring the methodology and overall strategy of project cost estimating, this publication provides an introduction to statistics and databases and illustrates how these may help the modern cost estimator. The book offers an interactive approach where the reader is encouraged to participate in a series of dice exercises to create a thorough understanding of the concepts involved. A disk supplied with the book contains a program - DICER - designed to simulate the dice throws and help calculate the relevant statistics.IChemE, the Institution of Chemical Engineers, is the center for chemical, biochemical and process engineering professionals worldwide.
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