COST ESTIMATING PROCESS EVALUATION AT WHITE SANDS MISSILE RANGE1. EXECUTIVE SUMMARY Currently, White Sands Missile Range cost estimates account for the majority of labor, materials, contract and equipment costs. Therefore, based on cost alone, the WSMR cost estimation process must be carefully monitored and evaluated. The problem in this study was to determine options for improving the current cost estimating process. Specifically, my search included becoming a member of the integrated product team focused on the Strategic Plan 1.1 initiative. My main objective was to determine the current level of existing cost estimating tools. I compared what Army, Navy, WSMR, and NASA organizations were using and evaluated their performance to propose an effective cost estimating tool for the IPT to consider. Interviews with several branch leaders familiar with cost estimating provided the primary data for this study. Overall, nearly everyone I interviewed agreed on the need for an effective tool that provides a system for managing project costs, measuring earned value, analyzing budgets, actuals, and projections. However, I have found that everyone has their own method for doing cost estimates and how they store them. During my investigation I found forty-five existing cost estimating methods and narrowed it down to a list of five. I selected the best five that fit the needs of what IPT was looking for. I assessed each of their strengths and weaknesses. Therefore, I suggest that the WSTC consider further study of the methods I have found to improve its current cost estimating process. In the meantime, I continue to work with the IPT to develop an effective cost estimating tool that meets the requirements of Initiative 1.1.CONTENTS1. SUMMARY 22. INTRODUCTION 43. PURPOSE AND SCOPE OF THE STUDY 44. RESEARCH PROCESS 55. RESEARCH FINDINGS 66. CONCLUSIONS AND RECOMMENDATIONS 87. POTENTIAL BENEFITS 98. REFERENCES 10EVALUATION OF THE WHITE SANDS MISSILE RANGE COST ESTIMATION PROCESSAndres Ru valcaba2. INTRODUCTION Cost estimates are a rapidly growing and increasingly important factor in the future success of the White Sands Missile Range. Without an effective method for estimating costs, your chances of retaining current customers are slim. However, by analyzing ways to improve cost estimates, we can improve our processes and grow into an engaged organization. This study inspired me to become a member of the IPT focused on Initiative 1.1 outlined in the 2004 WSMR Strategic Plan. Our goal as a team is to develop a coordinated cost estimating process and tool for the White Sands Test Center (WSTC)).