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Cost Estimating and Analysis, Master

  • Application Deadline
  • 24 months
, CA,
The Cost Estimating and Analysis program at the Naval Postgraduate School is a distance learning graduate degree program designed to increase the accuracy and proficiency of DoD cost estimates and cost estimators. This curriculum is sponsored by Naval Sea Systems Command as a joint effort between NPS and the Air Force Institute of Technology.


During the Cost Estimating and Analysis program at the Naval Postgraduate School, students will learn cost estimating techniques commonly used in both DoD and industry, and acquire foundation skills and hands-on experience in all aspects of cost estimation, including shipbuilding, aircraft, software, and many other areas. Students enroll in two courses per quarter for eight quarters. Case studies and a two-quarter capstone project will complete the program. 

This program blends web-based, online instruction, with video tele-education (VTE), and is especially tailored to students whose careers will not allow them to get away for a full-time graduate education program. Web-based courses are paced week-to-week by the instructors, where students have the flexibility to complete their coursework at times of their choosing during each week. The VTE classes meet during a three-hour period each week at a pre-determined time throughout the program.


  • Basics: The graduate will possess the mathematical skills required to support graduate study in Cost Analysis/Cost Estimating.
  • Cost Analysis: The graduate will understand the methods and practice of cost analysis including various cost models, with particular emphasis in the relationship of effectiveness models and measures to cost, and applications in cost-benefit analysis.
  • Statistics and Probability: The graduate will have a firm understanding of statistics and probability analysis and be able to apply that knowledge in the development of cost estimating relationships. The graduate will also be able to correctly interpret statistical measures of any data set.
  • Uncertainty Fundamentals: The graduate will be well versed in uncertainty fundamentals for cost analysis, including applications of probability, statistics, data analysis, and modeling uncertainty.
  • Simulation: The graduate will be able to construct and utilize Monte Carlo simulations in cost estimates of cost and schedule drivers, and will be able to deal with statistical issues associated with estimating costs of programs with limited financial resources.
  • Rates Development: The graduate will be able to construct a rate-set for direct labor, overhead, general and administrative costs, and inflation. The graduate will also be able to construct costs for various contract types, such as cost-plus, fixed-fee plus incentive, etc.

Programme Structure

Courses include:

  • Probability and Statistics
  • Acquisition of Defense Systems
  • Operations Research for Cost Analysts
  • Defense Budget and Financial Management Policy
  • Fundamentals of Systems Engineering
  • Cost Estimating and Analysis Capstone

Detailed Programme Facts

  • More details:
    • the MCEA program is an eight-quarter course of study with start dates in late March. 
  • Programme intensity Full-time
    • Full-time duration 24 months
  • Languages
    • English
  • Delivery mode
    On Campus

English Language Requirements

This programme may require students to demonstrate proficiency in English.

Academic Requirements

You need the following GPA score:

Required score: 2.7

Applicants for graduate programs must have the equivalent of a bachelor’s degree with a minimum GPA equivalent to 2.7 on a US 4.0 grading scale. Admitted applicants typically have an undergraduate GPA of or better on a 4.0 scale. No exam grade should be lower than 4.5 (European grade scale) or D (American grade scale).

Your GPA (Grade Point Average) is calculated using the grades that you received in each course, and is determined by the points assigned to each grade (e.g. for the US grading scale from A-F).

  • A baccalaureate degree is required. Recent completion (within five years) of mathematics through single variable differential and integral calculus is considered minimal preparation. An academic profile code (APC) of 235 is required. 
  • For applicants with an undergraduate GPA below 2.7, a waiver will be considered depending on work experience.

Tuition Fee

Living costs for Monterey

  • 1100 - 1600 USD/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


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