AACE CEP Basic Estimating Knowledge

Basic estimating knowledge is the largest CEP domain. It tests whether you understand what an estimate is for, how reliable it is, and which method fits the information available.

Study this chapter as the front end of estimating judgment. Before you calculate a number, you must know the estimate purpose, scope basis, maturity of definition, assumptions, exclusions, pricing basis, and expected accuracy range. A strong CEP answer does not simply pick a technique. It explains why the technique fits the decision stage.

The sections cover estimate basis and classification, then method selection and input quality.

In this section

• AACE CEP Estimate Basis, Classification, and Scope Maturity
  Study AACE CEP Estimate Basis, Classification, and Scope Maturity: key concepts, common traps, and exam decision cues.
• AACE CEP Method Selection and Input Quality
  Study AACE CEP Method Selection and Input Quality: key concepts, common traps, and exam decision cues.