ABSTRACT
Within the context of the KBE philosophy, data is defined as any information, both cost and technical, concerning historical projects and services that will be used as the basis for future estimates, whilst also extending out to information in relation to the technical or schedule characteristics of future projects or services. Tools are defined as the software systems that help cost engineers to interpret historical data, such as statistical tools that can be used to create cost estimating relationships (CER), historical trend analysis (HTA) [28] or other tools that allow the application of such relationships to generate estimates. Parametric cost models could fall into that category.
