Cost estimation and management over the life cycle of metallurgical research projects

This study investigates whether all expected costs over the life cycle of metallurgical research projects are included in initial, normal and final cost estimates, and whether these costs are managed throughout a project s life cycle since there is not enough emphasis on the accurate estimation of costs and their management over the life cycle of metallurgical research projects. The study also determines during which phase of the life cycle of metallurgical research projects costs are normally determined, during which phase most of the costs are incurred, and during which phase costs are managed. Project life cycles, techniques of cost estimation and cost management are examined.