Assumed Estimating Process
The entire project is broken into Work Packages (work breakdown structure): build base, shoot and chip, etc.
Estimated unit quantities for each work package are calculated from the plans and specifications at an appropriate level of detail.
The corresponding unit prices and productivity rates are obtained from historical data – We will use the R. S. Means manual in this class.
Work Package (or Task or Activity) durations and costs are derived from the historical data as applied to the estimates.
These data serve as inputs to the scheduling process which result in Bar-Charts similar to the one on the next slide.