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Graduate School USA

AI for Federal Cost Estimation and Analysis Course

via Graduate School USA

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Overview

This half-day course teaches federal cost professionals how to use AI as a practical tool for developing, reviewing, and communicating cost estimates and economic analyses.

Participants will learn to apply AI to lifecycle cost modeling, cost-benefit and cost-effectiveness analysis, independent cost estimate review, and capital planning — while maintaining compliance with GAO Cost Estimating and Assessment Guide standards and OMB requirements. No prior AI experience is required.

Syllabus

Module 1: AI Fundamentals for Cost Professionals

  • How AI language models work and their application to cost estimation and economic analysis
  • Responsible AI use with cost data, procurement-sensitive information, and pre-decisional estimates
  • Protecting sensitive cost data, proprietary pricing, and source selection information
  • Recognizing AI hallucinations in cost modeling and economic analysis contexts

Module 2: AI for Cost Estimation Development and Review

  • Using AI to research cost estimating methodologies (analogy, parametric, engineering build-up)
  • AI-assisted analysis of historical cost data and cost growth trends
  • Applying GAO Cost Estimating and Assessment Guide standards with AI research support
  • Independent cost estimate review and should-cost analysis with AI tools

Module 3: AI for Economic Analysis and Capital Planning

  • Applying AI to cost-benefit analysis aligned with OMB Circular A-94 requirements
  • Using AI for business case development and Exhibit 300 support narratives
  • Sensitivity analysis and risk assessment for cost estimates with AI tools
  • Lifecycle cost modeling and total cost of ownership analysis with AI assistance

Module 4: Hands-On Workshop

  • Participants apply AI tools to realistic federal cost estimation scenarios
  • Practice prompt engineering for cost analysis and economic evaluation queries
  • Cross-check AI outputs against GAO Cost Guide and OMB guidance
  • Group exercise: Using AI to develop a cost estimate briefing for an investment review board

Taught by

Bruce Gay, Steve Pesklo, Brian Simms, Clarissa J. Corbin, Natalya H. Bah, and Michiel Pruijssers

Reviews

4.5 rating at Graduate School USA based on 6 ratings

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