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Cost Estimation

Cost Estimation

Cost Estimation

(OP)
In a previous job a coworker used some formulas to estimate a cost of a project based on the minimum and maximum values of the multiple individual cost related to the project. I didn't have a change to ask for the source to understand the formulas and I hope someone can help me to understand it.

RE: Cost Estimation

Sounds like something out of MATLAB.

John R. Baker, P.E. (ret)
EX-Product 'Evangelist'
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: Cost Estimation

Look into Monte Carlo iterations.

Ted

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