Evaluation of models for forecasting the final cost of a project

Article Methodology, Cost Control, Project Estimating March 2000

Project Management Journal

Zwikael, Ofer | Globerson, Shlomo | Raz, Tzvi

How to cite this article:

Zwikael, O., Globerson, S., & Raz, T. (2000). Evaluation of models for forecasting the final cost of a project. Project Management Journal, 31(1), 53–57.
This paper addresses how to estimate the final cost of a project and when the estimate becomes accurate. The performance of five forecasting models drawn from literature was evaluated with data from a sample of actual projects. A stability analysis was carried out in order to identify when the forecasts become stable and accurate for the model that emerged as the most accurate.
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