Land Warfare Conference 2012: Potent Land Force for a Joint Maritime Strategy
Cost Estimation Conference
The Capability Investment and Resources Division of the Department of Defence will be hosting the 2nd Cost Estimation Conference in conjunction with the Land Warfare Conference 2012, following the very successful Inaugural Conference in June/July 2011.
This conference will look at where the future focus should be to support the goal of achieving best practice in cost estimation.
Industry, government and academia alike continue to strive to institutionalise best practice in cost estimation. This involves a number of activities such as improving methodologies, building databases of cost data and training and certification of cost estimators. This conference seeks to explore where the future opportunities lie to improve cost estimation and to share the experiences of those on the best practice journey.
Topics may also include:
- How much precision in the cost estimate is necessary to make a decision and how is the risk associated with that decision best managed
- Discussions on Cost Growth and how to predict its effects
- Optimising Portfolio Management - managing a fixed bottom line versus delivering a portfolio of projects with varying degrees of uncertainty
- Budget environment management challenges - what to do when the funding is reduced but the scope of projects to deliver is not
- Estimation versus Analysis - a discussion of similarities and differences in approach
- Tools and methods - systems to manage a portfolio of cost estimates and to facilitate data extraction at the portfolio and project level, with the aim of supporting business decisions