Parametrics as a Function of Project Management: A Tactical Example
Over the past few years as budgets have become tighter, government agencies have been trying to do more science and research with less resources. As a result, the National Aeronautics and Space Administration (NASA)’s International Space Station ( ISS) Program employs cost estimation as a function of project management in order to make better decisions. The cost estimators and project controls professionals, through the use of parametric tools, have been able to execute effective project controls for various customers, including the program manager, project engineers, and the procurement office. This presentation will exhibit how the various commercial off the shelf tools such as PRICE, the SEER suite, and Primavera are being used effectively to predict cost and schedule outcomes including some of the tactical approaches taken in using the parametrics. Specifically, schedule analysis performed using primavera/pertmaster, applying this to a cost estimates built using PRICE and SEER, and comparing estimates throughout the project lifecycle against the budgets, spend plans, and actual costs.
Krista Stroh is an Associate with Booz Allen Hamilton working with the Economic and Business Analysis team. She leads a team of consultants supporting the International Space Station Program Planning & Control Office under the Program Integration & Control contract. She holds an MBA in Finance from the University of St. Thomas and has more than ten years of cost analysis experience in the aerospace, construction, and real estate markets. She is a Certified Cost Estimator/Analyst (CCE/A) and is Vice President of the Houston/Clear Lake SCEA chapter. Ms. Stroh is an avid user and well-versed in many of the commercial cost and schedule parametric modelling tools including PRICE Systems, SEER Suite, Primavera, Pertmaster, and SAP. She is experienced in parametric, bottom up, and analogous cost estimating. She has created hundreds of cost estimates, provided negotiation support on government procurement positions both in the US and abroad, and represented the government at various conferences around the cost community. She is also trained in using many commercial off the shelf cost estimating tools such as SEER-H, SEER-SEM, PRICE H, TruePlanning, Primavera, and ACE.