Cost Estimating - Exam 3 Study Guide -
WMGT 101 19A Phase 2
Cost Estimating Initiative Program (CEIP) Background - correct answer ✔1.
2013 Air Force Audit:
a. 58% project estimates unreasonably inaccurate (by millions)
b. 75% project managers did not have proper support for estimates
2. 2015 AFCEC Study: 48% of FY15 Current Working Estimates (CWE) were
bid busts
3. 2015 HQ AF/A4CF Study: Programmed A
a. 22% projects over 25% of Programmed Amount (PA) - (worth $27M)
b. 28% were over 25% below Programmed Amount (PA) - (worth $4M)
c. 18% required re-reporting to Congress
Cost Estimating Initiative Program (CEIP) Components: - correct answer ✔1.
Education and Training:
a. WENG 200
b. WENG 400
c. WENG 402
d. WENG 500
2. Accountability:
, a. Reviewer
b. Approver
c. Sr. Exec
d. Validation
3. Authorization and Certification:
a. Air Force (WENG 400)
b. DOD
4. Tools: TRACES Portal
Authorized Cost Estimate - correct answer ✔1. Produced by WENG 400
graduates
2. Needed when/for:
a. Facility Sustainment, Repair & Modernixzation (FSRM) projects > $500K
b. All UMMC Projects
c. All MILCON Projects
3. Reviewer/Approver - Validates construction estimates
a. Construction Projects > $900K
b. Repair Projects > $4.5M
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