Reference class forecasting corrects optimism bias in capital cost estimates using outside-view data. How to build a defensible class and a…
How to turn a cost baseline into a defensible spend curve: time-phasing against the schedule, S-curve shaping, and the commitment, accrual…
On most capital projects, the cost and schedule data already exist. The problem is rarely a shortage of numbers — it is that the numbers si…
On a five-year capital project, a 4% annual escalation rate compounded across the spend curve can shift the total installed cost by 15–20%…
Cost contingency on capital projects is usually presented as the answer to a single question: how much extra money should we hold against u…
Every cost estimate for a capital project tells you what the project is expected to cost. Only the estimate basis memorandum tells you why.…
The cost baseline is the reference point for everything a project team does after sanction. Every variance report, every forecast, every ex…
Every capital project runs on two parallel hierarchies. The project team works to a Work Breakdown Structure — a deliverable-oriented break…
A cost report that no one reads is worse than no cost report at all. It consumes time to produce, creates a false sense of oversight, and b…