ABSTRACT
The function of Complex Project Management— coupled with engineering disciplines— enables the creation and implementation of systems of unprecedented size and complexity. Traditional engineering disciplines are value-neutral; the laws of physics control the outcome of electronics, mechanics, and structures. Equally important are the project’s cost and schedule. Rather than optimizing on performance, successful projects jointly optimize on cost simply because of the fact that a solution that is too expensive is not a solution. Many useful cost estimation techniques are available to Complex Project Management practitioners. Life cycle models vary according to the nature, purpose, use, and prevailing circumstances of the system. Despite an infinite variety in system life cycle models, there is an essential set of characteristic life cycle phases that exists for use in the systems engineering domain. A variety of cost estimation methods exist, some more appropriate than others based on the phase of the life cycle and the data available to decision makers.
