COST ESTIMATING REQUIREMENTS HANDBOOK, NATIONAL PARK SERVICE (FEB-2011)

COST ESTIMATING REQUIREMENTS HANDBOOK, NATIONAL PARK SERVICE (FEB-2011)., On March 2, 2009 the U.S. Government Accountability Office (GAO) issued a manual titled Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Capital Program Costs. The GAO is charged with providing information to Congress to assist them with oversight of federal operations, programs, agencies, and to assess their stewardship of public funds. The GAO produced the guide to: A. “…help federal agencies produce well-documented, comprehensive accurate and credible estimates”, as attributed to the Comptroller General in the press release that accompanied the report. B. “Establish a consistent methodology that is based on best practices and that can be used across the federal government for the developing, management, and evaluating capital program cost estimates”, as stated in the preface to the report. (GAO Report, March 2, 2009) C. Reduce the risk of cost overruns, missed deadlines, and performance shortfalls. D. Improve the accountability and tracking of program changes; evaluate how well programs, risk management and cost control practices are performing; and improve the ability to respond to and mitigate cost impacts as changes materialize.