Describe the methods discusses to develop accurate cost estimates and the benefits and limitations of each. Why is cost estimation such a critical factor in attracting capital to grow your business? What are the six steps of cost estimation? How does the 'learning curve' work?

Discuss the best available approaches to dealing with the uncertainty that is inherent in attempting to forecast future financial results. How important are sensitivity analysis and scenario planning? Should compensation be based on performance against annual budgets? What other approaches might you suggest? Comment on one of your classmate's analyses.