- Apply techniques, models and methods that are relevant for performing different cost estimates.
- Perform sensitivity analyses and use Monte Carlo simulations in Excel to analyse risk and uncertainty associated with cost estimates.
- Have knowledge of and be aware of various factors that lead to cost overruns.
Required prerequisite knowledge
Recommended previous knowledge
|Written exam||1/1||4 hours||A - F||Basic calculator.|
- Course coordinator
- Sindre Lorentzen
Method of work
- Voluntary group work, group discussion and presentations during lecture
- Voluntary assignments and case preparation outside lecture
- Voluntary exercises in Excel and VBA during lecture
- Voluntary tests on Canvas without assessment
Industrial economics - Master's Degree Programme
Industrial economics - Master's Degree Programme - 5 year
Selected chapters and sections from the following:
- Clark, F. and A. B. Lorenzoni (1996). Applied cost engineering. CRC Press.
- Mislick, G. K. and D. A. Nussbaum (2015). Cost estimation: methods and tools. John Wiley & Sons.
- NASA, N. (2008). Cost estimating handbook. Washington, DC.
- Rose, K. H. (2013). A guide to the project management body of knowledge (pmbokR©guide) - fifth edition.
- Stephenson, H. (2015). AACE International Total Cost Management Frame-work: An Integrated Approach to Portfolio, Program, and Project Manage-ment. CreateSpace Independent Publishing Platform.
Collection of articles, reports and news articles.
Additional (voluntary) reading material:
- Kahneman, D. and P. Egan (2011). Thinking, fast and slow, Volume 1. Farrar, Straus and Giroux New York.
- Surowiecki, J. (2005). The wisdom of crowds. Anchor.
- Taleb, N. N. (2007). The black swan: The impact of the highly improbable, Volume 2. Random house.
- Tetlock, P. E. and D. Gardner (2016). Superforecasting: The art and science of prediction. Random House.
Sist oppdatert: 18.08.2019