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Crystal Ball for Cost Estimation

by crystalball_manager on 16th June 2008

You cannot exactly predict an uncertain future.

But in the face of such uncertainty, how can you make accurate, successful predictions about the cost of systems that have yet to be built or projects that have yet to be launched? How can you mitigate the risk in your cost and schedule estimates and eliminate unforeseen “surprises” in cost or schedule overruns?

One way is to assume exact knowledge of the system’s design and then make a best-guess about inevitable changes to the system. These best guesses come down to a specific number, generally bounded by a contingency amount. But cost estimates are not deterministic. They are forecasts that have a range of possible outcomes.

Understanding the implications of these ranges leads to more accurate decisions in predicting budgetary success. Crystal Ball® software helps you determine the ranges and likelihood of achieving success in your cost estimations.

Join us for this one-hour web seminar and learn how you can use Crystal Ball for cost estimation applications.



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