INTRODUCTION
Every company survival, progress, whether it ‘lives’ or ‘dies’ depends on the basis of proper estimation of its costs and estimation of product or service pricing. Every cost conscious executive or specific project manager, cost estimator, or organization is in need of improving their cost estimating success. This seminar endeavors to illustrate and explain how to develop costs and how they can be used not only to estimate the product cost, but also how to use them to determine a competitor’s likely bid price. It explores the estimating methods typically used to estimate costs and explains the advantages and disadvantages of each, demonstrate several estimating methods, and includes a cost estimating methodology that participants can tailor to their own organizational needs.