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Webinar: Master Class: Preparing Risk-Neutral Cost Estimates - Putting the Plan into Action
Webinar: Master Class: Preparing Risk-Neutral Cost Estimates - Putting the Plan into Action
Start Date - End Date
March 04, 2021
Registration Deadline
Thursday, March 04, 2021
Online registration will be open until the start of the Webinar on March 4, 2021.
Title: Master Class: Preparing Risk-Neutral Cost Estimates – Putting the Plan into Action
Date: March 4, 2021
Time: 12:00-1:00 pm; EST
1 PDH
Cost:
Free for SAME Members
$25.00 for Non-members
*Login information for this Webinar will be sent to you separately*
Cost:
Free for SAME Members
$25.00 for Non-members
*Login information for this Webinar will be sent to you separately*
Speakers:
Thomas R. Sanders, Jr., CCE/A, CBA, Senior Economist, MOCA Systems, Inc.
Stephen W. Essig, PE, CCP, Executive Vice President, MOCA Systems, Inc.
Description:
In March 2020, the US Undersecretary of Defense for Acquisition and Sustainment (USD/A&S) released guidance that encourages more realistic military construction project budgets. Select FY2023 Military Construction (MILCON) projects will be required to assess their inherent risk and build project cost estimates that include reasonable contingency for that risk. The opportunity to refine project budgets essentially ends with the 35% design estimate, so USD/A&S and subsequent clarifying guidance from Army Corps of Engineers (USACE) describes the requirement in much detail. The focus is on disciplined Cost-Schedule Risk Assessments (CSRAs) informed by the American Association of Cost Engineers’ (AACE) Recommended Practices (RPs). USACE guidance relies on Risk Registers, probability and consequence determinations, and monte carlo simulation range estimating to identify the risk-neutral estimate for projects. USD/A&S believes this will ensure cost-effective project execution by adhering to industry best practices.
Learning Objectives:
Attendees will understand the general process of preparing a fully-auditable risk neutral estimate including required resources and schedule;
Attendees will understand how to prepare the Cost-Schedule Risk Assessment (CSRA);
Attendees will learn how to characterize different estimates (e.g. point, baseline, risk-neutral, contract, project);
Attendees will learn what should be included in the Risk-Neutral Estimate documentation.
In March 2020, the US Undersecretary of Defense for Acquisition and Sustainment (USD/A&S) released guidance that encourages more realistic military construction project budgets. Select FY2023 Military Construction (MILCON) projects will be required to assess their inherent risk and build project cost estimates that include reasonable contingency for that risk. The opportunity to refine project budgets essentially ends with the 35% design estimate, so USD/A&S and subsequent clarifying guidance from Army Corps of Engineers (USACE) describes the requirement in much detail. The focus is on disciplined Cost-Schedule Risk Assessments (CSRAs) informed by the American Association of Cost Engineers’ (AACE) Recommended Practices (RPs). USACE guidance relies on Risk Registers, probability and consequence determinations, and monte carlo simulation range estimating to identify the risk-neutral estimate for projects. USD/A&S believes this will ensure cost-effective project execution by adhering to industry best practices.
Learning Objectives:
Attendees will understand the general process of preparing a fully-auditable risk neutral estimate including required resources and schedule;
Attendees will understand how to prepare the Cost-Schedule Risk Assessment (CSRA);
Attendees will learn how to characterize different estimates (e.g. point, baseline, risk-neutral, contract, project);
Attendees will learn what should be included in the Risk-Neutral Estimate documentation.
For additional information, please visit the International COI webpage on the SAME website.
Registration Fees
| Price Description | Amount |
|---|---|
| Non-Member Fee | $25.00 |
| SAME Member | $0.00 |
Available Functions
Speakers
| Name | Organization | Speaking At |
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