Estimating costs for new product components early in the design cycle
Estimating costs for new product components early in the design cycle
2 PagesChallenge: Estimating costs for new product components early in the design cycle— especially components bearing little resemblance to previously purchased items—consumes time and manpower at a point when designers need only rough guidelines for which design approaches to pursue or modify. When a major defense contractor looked for a way to improve upon their homegrown spreadsheet approach to put engineers in control of better early decisions, they discovered they already had an alternative in-house. Solution: The contractor took advantage of their existing PRICE® TruePlanning® licenses to create a controlled comparison of top-down estimating performance vs. known product costs. Comparing historical costs for a selected set of 48 machined parts representing a cross section of shapes
