Navigating Analogous Cost Estimation for Unique, High-Complexity Projects
Analogous cost estimation is widely used across industries, but when it comes to next-generation custom projects, limited data points make it a challenge. In this webinar, Galorath and SpaceWorks experts will share best practices for accurately estimating costs on complex projects by breaking down analogies, escalating costs for advanced features, and using parametric tools to ensure cost realism. Whether you’re in military, aerospace, or civil engineering, this session will help you refine your cost estimation process for custom designs.
Endorsed by Global Industry Leaders
Key Insights:
- How to effectively decompose analogies to focus on areas of significant change in design.
- Strategies for validating and escalating costs based on past technical performance.
- Utilizing parametric models to systematically adjust costs for new complexities.
- Building a strong cost library to better correlate past projects to future estimates.
Hayden Magill, Economic Analyst at SpaceWorks
Hayden Magill is an Economic Analyst at SpaceWorks, specializing in parametric cost estimation, business case assessments, and advanced modeling and simulation for aerospace systems. He conducts market research to provide strategic analysis and forecasting for the aerospace industry. Hayden served as the lead economic analyst for NASA's High-Speed Commercial Aircraft Market Study and has developed cost estimates for AFRL engine concepts. His work also includes market analysis for the LEO economy and due diligence assessments for space tourism ventures. He holds a STEM MBA and a Bachelor's in Mechanical Engineering from the University of Georgia.
Sam Sanchez, Technical Director for Hardware-Electronics
Sam Sanchez is the Technical Director for Hardware-Electronics at Galorath, with extensive experience in consulting and research across the Military, Aerospace, Industrial, and Commercial sectors. He has played a vital role in developing cost models and independent cost estimates for government projects and has helped contractors build effective cost estimation systems. Sam's expertise spans Space Science missions, where he has served as a cost evaluator and proposal reviewer. Sam's current research focuses on estimating electronic systems, including Phased Array Radars and Microelectronics, and he leads training for Galorath's SEER Hardware models.