Cost Estimate Articles

Paper Summary:

This paper examines and discusses three articles which deal with cost estimates in various situations. Articles discussed are: "Cost Estimate on Stadium Jumps" (David Nakamura and Lori Montgomery) which discusses the cost of building a baseball stadium and renovating Robert F. Kennedy memorial stadium in Washington, D.C; "Life-Cycle Cost Analysis - Evaluation and Economic Investment Team" (Keith Goodman) which argues in favor of a life cycle cost analysis approach, suggesting it is the best method for analyzing costs over time and assessing the overall value and benefit of a project, service or other commitments and, finally, "Activity Based Costing: What is it and how can Reengineering Teams Use it?" (Nancy Maluso) which discusses the basics of activity based costing (or ABC).

From the Paper:

"Maluso claims that traditional accounting systems are not accurate because they do not allocate costs correctly. Further the author suggests that high volume products and services may actually incur a large percentage of overhead costs but these costs aren't actually assigned correctly. Maluso goes as far as claiming that small batch and low volume products actually incur anywhere from 200 to 1000 percent more overhead than what is actually assigned them. Her analysis is used to justify the notion that products and services that a company might believe are highly profitable are in all reality profit "eaters" according to the article."

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