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Independent Cost Estimate

National RTAP has produced an Independent Cost Estimate worksheet for your use. An Independent Cost Estimate is performed before receiving bids or proposals. It improves the reliability of forecasting cost and can range from a simple budget estimate to a complex estimate based on product inspection and review. This process is particularly significant whenever there is no price competition, or when goods or services are dissimilar, and when prices seem unreasonably high.

Fill in all the cost elements applicable on the cost analysis form and retain a comprehensive collection of all supporting documentation in the procurement project files at all times.

Citation: National RTAP. Independent Cost Estimate. 2012. http://nationalrtap.org/Resource-Library/Advanced-Search/?fid=360

Permanent URL: http://nationalrtap.org/Resource-Library/Advanced-Search/fid=360