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New GAO Capital Program Cost Estimating and Assessment Guide Available
Thinking About Corrections


The "GAO Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Capital Program Costs" is now available as a resource for jurisdictions as they plan capital improvement projects. While not specific to criminal justice projects, it is designed to help federal, state, or local agencies develop more reliable cost estimates for capital projects of all sizes.

Taken from the GAO Press Release:

 GAO’s new guide is intended to help agencies produce well-documented, comprehensive, accurate, and credible estimates.

Developed with input from industry experts as well as federal officials, the 436-page Cost Estimating and Assessment Guide lays out a multi-step process for developing high-quality, trustworthy cost estimates; explains how to manage program costs once a contract has been awarded; and presents 48 case studies, drawn from GAO published audits, that illustrate typical pitfalls and successes in cost estimating. The guide stresses both sound cost estimating and earned value management (EVM), a project management tool that compares completed work to expected outcomes, in setting realistic program baselines and managing risk. In future audits, GAO plans to use the Cost Estimating and Assessment Guide to assess the accuracy of agencies’ cost estimates and determine whether programs are on schedule.

Posted Wed, Mar 4 2009 10:35 AM by Anonymous


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