2020 GAO High Quality Project Estimate Characteristics.xlsx
XLSX spreadsheet 14 KB Posted
- Solicitation number
- 36C26025R0070
About this file
The document is a GAO (Government Accountability Office) Cost Estimating and Assessment Guide from March 2020, which outlines four key characteristics of a high-quality and reliable cost estimate for federal contract projects. The characteristics include being comprehensive (covering all life cycle costs and technical baseline details), well-documented (showing source data, methodology, and management review), accurate (using best methodologies, adjusting for inflation, and updating regularly), and credible (incorporating sensitivity analysis, risk assessment, and independent cost estimates).
The related federal contract opportunity is a pre-solicitation from the Department of Veterans Affairs Veterans Health Administration for Solicitation Number 36C26025R0070, titled "C1DA--AE-NRM 668-25-102 Replace Asphalt Drywells and Sidewalks". The solicitation requires interested parties to submit SF 330 forms for a procurement involving replacement of asphalt drywells and sidewalks, with specific submission details to be found in the presolicitation notice attachment.
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Other files
| File | Type | Posted |
|---|---|---|
| 36C26025R0070 0001.pdf | ||
| Design Review Comment Form.xlsx | XLSX spreadsheet | |
| Bldg 12 As-Built ARCH-STR.pdf | ||
| AE SOW 668-25-102 - Copy.docx | DOCX document | |
| PPQ 668-25-102.docx | DOCX document | |
| Bldg 12 As-Built MEP.pdf | ||
| Site Repair Replace Areas Rev 1.pdf | ||
| Presolicitation Notice - Request for SF 330s.pdf | ||
| 36C26025R0070.docx | DOCX document |
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Text version
Cost Estimate review
| https://www.gao.gov/assets/710/705312.pdf | KEY | |||||
| VA or A/E provided evidence that satisfied the entire criterion = | Met | |||||
| VA or A/E provided evidence that satisfies a larger portion of the criterion = | Substantially Met | |||||
| VA or A/E provided evidence that satisfied half of the criterion = | Partially Met | |||||
| VA or A/E provided evidence that satisfied a small portion of the criterion = | Minimally Met | |||||
| VA or A/E provided no evidence that satisfied any of the criterion = | Not Met | |||||
| GAO Cost Estimating and Assessment Guide (GAO-20-195G) March 2020 | 10% Design Construction Cost Estimate | 35% Design Construction Cost Estimate | 65% Design Construction Cost Estimate | 95% Design Construction Cost Estimate | 100% Design Construction Cost Estimate | |
| Four Characteristics of a high-quality and reliable cost estimate | Best Practices in Chapter 16: Auditing and Validating the Cost Estimate (Go to page 196 of 476) | Individual Assessment | Individual Assessment | Individual Assessment | Individual Assessment | Individual Assessment |
| Comprehensive | The cost estimate includes all life cycle costs | |||||
| The technical baseline description completely defines the program, reflects the current schedule, and is technically reasonable. | ||||||
| The cost estimate is based on a WBS that is product-oriented, traceable to the statement of work, and at an appropriate level of detail to ensure that cost elements are neither omitted nor double counted. | ||||||
| The cost estimate documents all cost-influencing ground rules and assumptions. | ||||||
| Well documented | The documentation should show the source data used, the reliability of the data, and the estimaring methodology used to derive each element's cost. | |||||
| The documentation describes how the estimate was developed so that a cost analyst unfamiliar with the program could understand what was done and replicate it. | ||||||
| The documentation describes step by step how the estimate was developed so that a cost analyst unfamiliar with the program could understand what was done and replicate it. | ||||||
| The documentation discusses the technical baseline description and the data in the technical baseline are consistent with the cost estimate | ||||||
| The documentation provides evidence that the cost estimate is reviewed and accepted by management. | ||||||
| Accurate | The cost model was developed by estimating each WBS element using the best methodology from the data collected. | |||||
| The estimate has been adjusted properly for inflation. | ||||||
| The estimate contains few, if any, minor mistakes. | ||||||
| The cost estimate is regularly updated to ensure it reflects program changes and actual costs. | ||||||
| Variances between planned and actual costs are documented, explained, and reviewed. | ||||||
| The estimate is based on a historical record of cost estimating and actual experiences from other comparable programs. |
| Credible | The cost estimate included a sensitivity analysis that identifies a range of possible costs based on varying major assumptions, parameters, and data inputs. |
| A risk and uncertainty analysis was conducted that quantified the imperfectly understood risks and identified the effects of changing key cost driver assumptions and factors. | |
| Major cost elements were crossed checked to see if results were similar. | |
| An independent cost estimate (ICE) was conducted by a group outside the acquiring organization to determine whether other estimating methods produce similar results. |
&F &A page &P of &N https://www.gao.gov/assets/710/705312.pdf
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