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Improving Cost Estimating during Program Execution through Integrated Program Management

EVM/Schedules Track

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During program execution, Earned Value Management (EVM), the Integrated Master Schedule (IMS) and Technical Performance Measures are integrated with risk management in day-to-day program management. The program’s cost estimate needs to take into account program performance, including contract performance, in order to estimate the cost and schedule resources necessary to complete the program and ensure sufficient budget is available. This presentation will explore an analysis tool which links the program management disciplines together (a best practice as described in the GAO Cost Assessment Guide) in order to produce a probability distribution around the cost estimate while providing actionable information to the Program Manager. The results will be demonstrated on a Major Defense Acquisition Program.


Wendy Freeman
Wendy Freeman, a Principal, of the Executive Consulting Group, acts with her group as a change agent which generates applied research to enlighten critical thinking, thus enabling superior solutions delivered through effective consulting. Additionally, as the company’s internal consultants, the group provides initial implementation management, assuring new capabilities are entrenched in customer’s tool kit. The group focuses on executive customers and critical decisions, incubating Integrated Program Management (IPM) critical thinking that result in solutions delivered. Ms. Freeman has 19 years of experience as a Department of Defense (DoD) and Federal Agency cost estimator/analyst earned while leading various investment program activities including Business Case Analyses, Independent Cost Estimates, Life-Cycle Cost Estimates, Software Intensive Estimates, Return on Investment Analyses, Analysis of Alternatives and Proposal Selection Teams. She teaches several cost estimating courses for both MCR employees and clients and has developed Beginner and Advanced ACEIT courses.
Ms. Freeman is a key contributor to the Linked Control Account AnalysisTM, providing Subject Matter Expertise for program analysis and earned value management. Currently, Ms. Freeman is managing an Earned Value revitalization effort for AFSPC Space and Missile Center. She developed a process for the FAA Aviation Safety Office to size their information technology software development projects, developed a Business Case Analysis and provided program management support to the FAA Office of Aviation Safety. Ms. Freeman performed a Return on Investment analysis for USMC Autonomic Logistics program, led reviews of software cost estimates in support of Air Force Milestone decisions, developed software cost and schedule estimates for the C-130 Avionics Modernization Program Independent Cost Estimate, led the AFSPC Common Vertical Lift Support Program Analysis of Alternatives, developed acquisition cost and schedule estimates for the radar systems of the Cobra Judy Replacement program, developed cost estimates for a NASA Lunar Relay Satellite to support trade studies for the Exploration Communication and Navigation System, and provided acquisition subject matter expertise for the Component Acquisition Executive of Defense Information Systems Agency.
Ms. Freeman spent 12 years supporting the Air Force at Electronic Systems Center, Hanscom AFB, MA after earning a B.S. in Mathematics from North Carolina State University.