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Topics: Cost Management
Cost Management
Hi

I wanted to know what are the different cost estimating methods used in Pharma Industries? Which is commonly used? Where can we find details about it?
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I worked in that domain and there is not difference with costs calculation than other domains, except for one initiative that was to implement balanced score card and activity cost based system.
Muthukrishnan -

It would be a good idea to provide some idea of the specific types of pharma projects you are looking at. A project to discover a new drug is very different than that to manufacture one which has passed the regulatory approval process.

Kiron
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1 reply by Muthukrishnan Ramakrishnan
Feb 08, 2021 8:23 AM
Muthukrishnan Ramakrishnan
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Kiron

It is a construction project in Pharma Industry. Please advise
Feb 08, 2021 8:12 AM
Replying to Kiron Bondale
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Muthukrishnan -

It would be a good idea to provide some idea of the specific types of pharma projects you are looking at. A project to discover a new drug is very different than that to manufacture one which has passed the regulatory approval process.

Kiron
Kiron

It is a construction project in Pharma Industry. Please advise
Muthukrishnan

The cost estimating methods you use for Pharma construction projects are no different than those that you use for other projects. I’ve recently completed a pharmacy project myself.

We start with ROM using Parametric or Analogous estimating then as we define our WBS, we do bottom up estimates.

Hope this helps.

RK
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1 reply by Muthukrishnan Ramakrishnan
Feb 08, 2021 8:57 AM
Muthukrishnan Ramakrishnan
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Rami -

That explains a lot. Is it possible to get a template for this?

Muthu
Feb 08, 2021 8:50 AM
Replying to Rami Kaibni
...
Muthukrishnan

The cost estimating methods you use for Pharma construction projects are no different than those that you use for other projects. I’ve recently completed a pharmacy project myself.

We start with ROM using Parametric or Analogous estimating then as we define our WBS, we do bottom up estimates.

Hope this helps.

RK
Rami -

That explains a lot. Is it possible to get a template for this?

Muthu
...
1 reply by Rami Kaibni
Feb 08, 2021 8:58 AM
Rami Kaibni
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I don’t have a specific template for this - We use our company cost estimating template but we’re not allowed to share soft copies of any templates as per company policies.
Feb 08, 2021 8:57 AM
Replying to Muthukrishnan Ramakrishnan
...
Rami -

That explains a lot. Is it possible to get a template for this?

Muthu
I don’t have a specific template for this - We use our company cost estimating template but we’re not allowed to share soft copies of any templates as per company policies.
...
1 reply by Muthukrishnan Ramakrishnan
Feb 08, 2021 8:59 AM
Muthukrishnan Ramakrishnan
...
Alright. I get it. Let me look it up online.
Feb 08, 2021 8:58 AM
Replying to Rami Kaibni
...
I don’t have a specific template for this - We use our company cost estimating template but we’re not allowed to share soft copies of any templates as per company policies.
Alright. I get it. Let me look it up online.
I agree with Kiron. We need some samples.

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