Labor Estimation and Trending in an Operations Environment

Abstract: Accurate cost estimation for future work is important for ensuring that organizations have the personnel and resources needed to complete a task successfully. Operations support in particular provides additional challenges for estimating cost. Unlike manufacturing-based work, it may be difficult to derive a “cost per product,” and projects that appear to be similar may have drastically different underlying assumptions. In addition, for critical operations, a certain level of adaptability to c…