The discussion that follows will explore:
• The key components of an effective estimating model
• The benefits of effective estimating
• The challenges impacting effective estimating
• Pros and cons of vendor developed estimating model(s)
To properly address the question and to evaluate the potential benefits of a vendor developed estimating model, we should understand the characteristics of an effective estimating model. Similarly we should know the benefits and challenges of estimating in order to evaluate the impact an estimating model may have on realizing those benefits and meeting those challenges. Once we have formed our basis of understanding in that regard we are then well positioned to evaluate the pros and cons of vendor developed estimating models.