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    MIE Solutions Blog

Techniques for Cost Estimating

By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011

The basic cost estimating techniques involve analyzing all factors that make up a cost estimate. The first technique I would follow is to go through the following steps, systematically, and costing each one out in detail. Once you have gone through...
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Purpose of Cost Estimating

By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011
, By Dave Ferguson
February 07, 2011

There are numerous purposes behind cost estimating, including the following:
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Estimating the Costs of Estimates

By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011
, By Dave Ferguson
February 05, 2011

An interesting situation when creating estimates is determining which estimates to spend time on and which estimates are too costly to put the effort into.  In a tough economy, your company takes on jobs that don't lead to a reasonable profit, but...
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Cost Estimate Types

By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011

There are different types of cost estimates including "Rough Approximation" of cost which can be a conceptual design, preliminary design and then a detailed estimate or quote.
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Profit Improvement and Cost Reduction Part 1

By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011
, By Dave Ferguson
January 30, 2011

Talking about profit improvement and cost reduction we cannot leave out the importance of estimating accurately.  There are a few ways to reach the goal of both profit improvement and cost reduction.
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Cost Estimating Versus Cost Accounting

By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010
, By Dave Ferguson
October 26, 2010

What is the difference between cost estimating and cost accounting?
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Estimating is more than Setup and Run Time Part 2

By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010
, By Dave Ferguson
September 24, 2010

In the not to distant past many manufacturing processes were very labor intensive.  In countries such as China and India there is still a great deal of manual labor intensive manufacturing.  I remember as a child I worked in my Father's sheet metal...
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Estimating is more than Setup and Run Time Part 1

By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010
, By Dave Ferguson
July 19, 2010

Many estimators put a lot of time into figuring out how to estimate setup time.  Setup time is a key component when doing estimates for basic operations like shearing, forming, laser, punch presss or any other operation which requires a setup...
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Estimating Software Guide

By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010
, By Dave Ferguson
February 01, 2010

There are many different type of software estimating package for made to order manufacturing Made to order manufacturing includes any custom job shop type work including sheet metal, machining, wood working, stamping, press work, printing which all...
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Job Shop Quoting Labor Hours Accumulation

By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010
, By Dave Ferguson
January 25, 2010

Labor time is very difficult to measure accurately when determining manufacturing time for a custom item.   If you ask 10 people to estimate how long it will take to cut a piece of wood, pipe, etc you would most likely find 10 different answers.  It...
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