BUS 501 Week 3 Assignment 1, The Independent Government Cost

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BUS 501 Week 3 Assignment 1, The Independent Government Cost Estimate and the Statement of Work

A number of steps are required in conducting an IGCE and all of these steps must be followed to conduct a competitive estimation. The first step is to know the requirement, project and the services that are going to be procured. In this case we must know about the actual purpose of this two million dollar procurement. The Statement of Work is very important in this respect as it provides us with purpose of the procurement. The work that is not included in SOW should not be included for estimation.

In order to conduct a purposeful IGCE it is important to declare the milestones of the completion of the cost estimation and the milestones of completion of the project itself. One should keep in mind that every cost estimate is prepared with a forecast and cannot be prepared with absolute certainty and authenticity………….Continued