Technology has evolved considerably since the initial GAO Best Practice guidance, and agencies can leverage new tools to support the GAO’s updates cost estimating best practices. GAO recommends that leaders and auditors use the Best Practices Guide as a benchmark to assess agency reliability of cost estimating for budgeting and decision-making purposes.
While the GAO guidelines apply to a broad range of programs, there are specific applications to capital construction and facility sustainment and modernization estimates, as evidenced by GAO’s periodic reports on the opportunities to improve construction cost estimating at agencies ranging from the DOD to the VA to FEMA. The purpose of the revision was to refine cost estimating guidance for Federal agencies. Government Accountability Office (GAO) recently updated their Cost Estimating and Assessment Best Practices Guide, originally published in 2009.
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