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Cost Estimating Tips: Learn Tricks in Excel and Best Practices

Methods and Models I Track



This presentation for the 2013 International Cost Estimating and Analysis Association (ICEAA) Conference is to present Microsoft Excel tricks and best practices for cost estimating. Many of the presentations at the conference are insightful and show the amazing cost estimating products that are being developed, but the knowledge gained from those presentations usually cannot be applied on a daily basis. The goal for this presentation is to provide the attendees efficient and more effective ways of modeling.
Although some models are built in ACE-IT, most cost models are built in Microsoft Excel. This presentation will discuss ways to set up the cost models. I will introduce Excel equations (i.e., vlookups, hlookups, sumifs, countifs, etc.) and provide examples of when to use those equations and how effectively apply them in cost models. We will also demonstrate Pivot Tables to show how information can be analyzed in Excel.
The goal of this presentation is to improve the cost estimators’ knowledge of Excel. This will expand the skill set of the junior cost estimator who attend the conference and may be a good refresher for the more experienced modelers.


Eric Hong
Booz Allen Hamilton
Mr. Eric Hong is an Associate at Booz Allen Hamilton, Inc. who has provided cost estimation provided cost estimation to multiple clients within Department of Defense (DoD), Department of Treasury, and Department of Homeland Security (DHS). He has specialized in providing cost support for developing emerging technology IT systems. He earned a Bachelor’s Degree in Policy & Management from Carnegie Mellon University. He is a certified cost estimator.