Part 7&9

Question 1

Parametric estimating

Answer 1

Parametric estimating models are tools that generate effort, cost or schedule estimates based on specific technical input parameters. Such models are sometimes referred to as “Black Box” since the cost estimating relationships and equations that convert input parameters to effort or cost are generally proprietary and unknown to the user.

Question 2

Automated Cost Estimating Integrated Tools (ACEIT).

Answer 2

Automated Cost Estimating Integrated Tools (ACEIT). Developed by Tecolote Research and owned by a consortium of Government cost organizations, ACEIT is a suite of tools developed specifically for the cost analyst. It incorporates the central steps of the cost estimating process: building a WBS, normalizing and analyzing data, specifying methodologies, uncertainty assessment, performing sensitivity and what-if analyses, documentation, and analyzing and presenting results in Base Year or Then Year dollars.

Question 3

Oracle Crystal Ball
Crystal Ball

Answer 3

Oracle Crystal Ball
Crystal Ball is a Microsoft Excel plug-in application for predictive modeling, forecasting, simulation, and optimization.

Question 4

Palisade @ RISK
@Risk (Pronounced “at risk”)

Answer 4

Palisade @ RISK
@Risk (Pronounced “at risk”) is an add-in to Microsoft Excel that lets you analyze risk using Monte Carlo simulation. @RISK shows you virtually all possible outcomes for any situation—and tells you how likely they are to occur.

Question 5

Constant Year

Answer 5

Constant Year is any specific year representing a fixed price level. It may or may not be the Base Year. The base year is actually a special case of a Constant Year.

Question 6

Constant Year Dollars

Answer 6

Constant Year Dollars refer to the value or purchasing power of a dollar in any specific year.
Actuals for any Fiscal Year from a catalog, CPR, or C/SSR are Constant Year (CY) Dollars.

Question 7

Then Year

Then Year Dollars

Answer 7

A Then Year is defined as any specific FY containing the Total Obligation Authority.

Then Year Dollars are Constant or Base Year dollars that have been either inflated or deflated using the appropriate inflation index to show the amount of money that will be needed when expenditures will actually be made for the goods and services.

Question 8

Weighted Inflation

Answer 8

Weighted Inflation Indices combine raw inflation indices and expenditure profiles to reflect the amount of inflation occurring over the entire period of the TOA expenditures. The weighted indices are used for all Then Year dollar computations in budget submissions such as the POM or BES.

Question 9

RI” denotes Raw Inflation Index,
“WI” denotes Weighted Inflation Index, and
“X” and “Y” are FYs