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CFMA's 2019 Annual


Specialty Trade: Best Practices in Estimating Cost-to-Complete


Jun 3, 2019 7:00am ‐ Jun 3, 2019 8:15am

Description

While a CFM has plenty of resources at his or her disposal to prepare a WIP schedule, one shortfall can be practical guidance on how to compute cost-to-complete and properly vet information provided by others in the organization. Join specialty trade peers for a roundtable discussion to identify practical solutions and best practices that yield reliable estimates of cost-to-complete. The discussion will focus on mitigating the risk of underestimating labor cost-to-complete.

  • Identify basic methods for calculating cost-to-complete at various points in a project
  • Discuss input from estimating, project management, and engineers
  • Develop best practices for testing the reliability of data prepared by non-accounting personnel
  • Share experiences of cost projections gone bad, and possible reasons for lack of accuracy
  • Learn about tools, techniques, and software solutions that provide early warning systems for labor

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