Category Archives: Scope and Cost

PM101: Scope and Costs

A cost estimate is, to me, a useless number without a fit for purpose, clearly defined and documented (a) scope, (b) methodology and (c) range. Each is discussed below. History seems to hold with three major categories of cost estimates: Screening; Budget; Definitive . Among these, there are five specific estimates: Screening: Class 5: business [...]

A Beautiful Thing

For a cost geek, there may be nothing more beautiful than a Class II Estimate from Exxon’s Golden Years… How did this system come about? I don’t really know, but perhaps some commenters to this site may provide insight (hint, hint…). I suspect it was something like this. A prescient executive foresaw the sort of [...]