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Successive Cost Estimation – Successful Budgeting of Major Projects

Access to new resource related to project cost estimating added to PM World Library

 Resource provided by
Ovya RK

31 March 2018 – Mumbai, India – Access to a new resource has been added to the PM World Library on the subject of Cost Estimating. The new resource is titled “Successive Cost Estimation – Successful Budgeting of Major Projects” and is a paper by Ole Johnny Klakegg and Steen Lichtenberg presented at the 29th IPMA World Congress on Project Management in Panama, proceedings published by Procedia in July 2016.

According to the authors, projects are seen to have challenges to maintain a balance between Project Management (PM) and Cost Engineering (CE). We must however note that these domains have made tremendous improvements, in spite of which we still witness frequent budget overruns and delays. This paper describes the development and result of a new method that challenges traditional ways of thinking about project planning and cost estimation with successful results from Scandinavia- what worked for them, what can be picked up as a learning to be implemented!

To access this important new resource, go to the Applications and Hot Topics section of the PMWL at, click on “Cost Estimating”, scroll down to papers. Must be registered as Free Trial, Professional or Scholar member and logged in to access.

This new resource provided through the PMWL university research internship program; to learn more, click here