Cost Analysis and Estimating for Engineering and Management

Cost Analysis and Estimating for Engineering and Management Cost Analysis and Estimating for Engineering and Management, by Phillip Ostwald and Timothy S. McLaren, 2004, Pearson Prentice Hall, 580 pages, ISBN 0-13-142127-1

Cost Analysis and Estimating for Engineering and Management is the 4th edition of Engineering Cost Estimating by Phillip Ostwald. For example, chapters 2,3,4,5,7 and 8 have the same titles and there are only 11 chapters in the new book, versus 12 in the old book.

There are some nice items about the new book; such as important equations and equation numbers listed on the inside covers. One cover gives various conversion factors and the SI prefixes. The book has 21 picture lessons describing important historical contributions of engineering over the last two centuries. Overall it is a very good book and should be a reference for all cost engineers and estimators.

The first chapter, formerly titled "Introduction" is now titled "Importance" to indicate the importance of cost engineering in the engineering design process and in management strategies and decision making.

Chapters 2 and 3 focus on the labor and material considerations in cost estimating. In the labor chapter, the authors introduce a variant in the consideration of PDK allowances in that the factor is taken as (1/(1-PDF)) rather than the traditional (1+PDF) where the PDK is...