About
Cost estimation is one of the project management pillars and it evolves throughout the lifecycle of First-of-a-Kind (FOAK) project, such as ITER. This presentation gives a view of the dynamic nature of cost projections from initial concept through the design and manufacturing phases, highlighting how estimates evolve as project scope, risks, and uncertainties become clearer. Drawing on lessons learned from ITER, the presentation will emphasise the importance of adaptive cost management strategies and continuous improvement measures. Key practices include refining estimation methodologies, integrating reviews at the different project phases, and implementing corrective actions to address unforeseen challenges. The presentation aims to provide a project management view with practical insights for enhancing cost control and improving forecasting accuracy.
0:00:00 Slide 1
0:02:54 Slide 2
0:04:06 Slide 3
0:06:14 Slide 4
0:06:48 Slide 5
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0:09:32 Slide 7
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0:17:03 Slide 11
The talk
Credits and licence
- Institution
- CERN
- Taught by
- Laura Cardona, Susana Palenzuela
- Year
- 2026
- Language
- English
- Source
- CERN
- Licence
- CERN, as CERN states it. CERN's terms
- Attribution
- © CERN. CERN provides its audiovisual media free of charge for educational and informational use, credited to CERN; this lecture is shown in CERN's own player.
- Who can watch
- CERN gives no rating. Invisible Network shows it to Teens profiles and older, judged from what the source says about it. How courses are placed