Bias in Initial Cost Estimates: How Low Estimates Can Increase the Cost of Acquiring Weapon Systems,
RAND CORP SANTA MONICA CALIF
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A small sample of weapon systems was investigated to determine whether a definite cause-and-effect relationship could be established between low initial cost estimates and subsequent cost increases. This report describes the result of that investigation and offers a few observations on how DoD might adapt defense procurement procedures to deal with problems arising from low estimates. The observations are intended to be suggestive, not definitive.
- Logistics, Military Facilities and Supplies