Why should I use parametric estimating?

Slides:



Advertisements
Similar presentations
Copyright 2007 EcoSys Management LLC All Rights Reserved. Confidential and Proprietary Information. 1 Integrating Financial Management with Project Management.
Advertisements

Cost as a Business Driver 1 John Brown C Eng MIEE mr_ Software Cost Estimation.
Project Cost Management Chapter 7
Project Management 6e..
Summary Slide Allegro Vivace (Fast and Lively) Your Logo Here Automated Financial Reconciliations Website – Automated Financial.
Trustie-F introduction Asia Research, Technology & Innovation Coordination, June 1 st 2009 Beijing, CHINA
Summary Slide Allegro Vivace (Fast and Lively) Your Logo Here Automated Financial Reconciliations Website – Automated Financial.
Estimating Project Times and Costs
Some Experience With COSYSMOR At Lockheed Martin
Copyright 2004, Raytheon Company, ALL RIGHTS RESERVED So, you want to use COCOMO II in-process...? Vicki Love.
Chapter 8 Risk Analysis Management of Computer System Performance.
Time and Cost Estimation
© Prentice Hall, 2005: Enterprise Resource Planning, 1 st Edition by Mary Sumner 1-1 Enterprise Resource Planning, 1 st Edition by Mary Sumner Chapter.
Estimating Project Times and Costs CHAPTER FIVE Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
David Warne Independent Manufacturing Consultant.
6-1 Copyright © 2013 McGraw-Hill Education (Australia) Pty Ltd Pearson, Larson, Gray, Project Management in Practice, 1e CHAPTER 6 Estimating Project,
Effective Methods for Software and Systems Integration
N A S A G O D D A R D S P A C E F L I G H T C E N T E R I n t e g r a t e d D e s i g n C a p a b i l i t y / I n s t r u m e n t D e s i g n L a b o r.
© 2012 PRICE Systems, LLC. All Rights Reserved. Optimize tomorrow today. ® Understanding and Measuring the Impact of Design and Systems Engineering Decisions.
This document is proprietary to Project Consulting Group, Inc. and contains confidential information which is solely the property of Project Consulting.
What is Oracle Hyperion Planning  Centralized, web- based Budgeting and Planning application  Combines Operational and Financial measures to improve.
10/27/20151Ian Sommerville.  Fundamentals of software measurement, costing and pricing  Software productivity assessment  The principles of the COCOMO.
8 - 1 Copyright © 2006, The McGraw-Hill Companies, Inc. All rights reserved.
Common Test Project CMU Presentation Jason Weighley Manager Test Engineering.
N A S A G O D D A R D S P A C E F L I G H T C E N T E R I n t e g r a t e d D e s i g n C a p a b i l i t y / I n s t r u m e n t S y n t h e s i s & A.
BSBPMG504A Manage Project Costs 7.1 Estimate Costs Adapted from PMBOK 4 th Edition InitiationPlanning ExecutionClose Monitor Control The process of developing.
Estimating Project Times and Costs CHAPTER FIVE Student Version Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
Workforce management
5 Ir. Haery Sihombing/IP Pensyarah Pelawat Fakulti Kejuruteraan Pembuatan Universiti Teknologi Malaysia Melaka Project Management Estimating Project Times.
Landed Cost Management Update
Total Cost of Ownership
Developing a E-Business Strategy Patterns of Entrepreneurship Chapter 10.
Instructor: Mike Kujawski Course Wiki: “ Password: “entrepreneur” Contact me at: if you have any.
 Chapter 10 Information Systems within the Organization.
PRODUCTION MANAGEMENT SOFTWARE. WHICH DO YOU PREFER? 2.
Norming Professional Service Automation Norming Software International Ltd.
Introduction to Mechatronics System Design
DR. Nabil Dmaidi F ACTORS THAT D ETERMINE V ARIATION IN E STIMATES.
Flexible Billings for Projects
Project Management 6e..
Project Management 6e..
Estimating Project Times and Costs
Assets & Reserves Continuing the Capital Planning Journey
ANSI/EIA-748-B Earned Value Management Systems (EVMS)
Chapter 3: Cost Estimation Techniques
Where We Are Now. Where We Are Now Estimating Projects Estimating Types of Estimates The process of forecasting or approximating the time and cost.
Estimating Project Times and Costs
PRESENTER: Derek Krebs, MSX Group
Work Breakdown Structures (WBS)
Where We Are Now. Where We Are Now Estimating Projects Estimating Types of Estimates The process of forecasting or approximating the time and cost.
Developing a E-Business Strategy
Hyper-V Cloud Proof of Concept Kickoff Meeting <Customer Name>
Estimating Project Times and Costs
Estimating Project Times and Costs
بسم الله الرحمن الرحيم غرفة صناعة عمان معهد إيجابي
Defining the Activities
AMP 415 Competitive Success/snaptutorial.com
AMP 415 Education for Service-- snaptutorial.com.
Sustainment Reporting CADE Sustainment Reporting
2 Costing Systems: Job Order Costing Managerial Accounting 10e
Enterprise Resource Planning, 1st Edition by Mary Sumner
Software Cost Estimation
Measurements & Error Analysis
How does a parametric estimate work?
Estimating Projects Estimating Types of Estimates
Estimating Project Times and Costs
Task Order Dashboard Eric L. Gashel
Where We Are Now. Where We Are Now Estimating Projects Estimating Types of Estimates The process of forecasting or approximating the time and cost.
Presentation transcript:

Why should I use parametric estimating? 2/24/2019 Why should I use parametric estimating? Presented by EastWise Technology, Beijing, China 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

We already know what the predecessor systems cost. The Shenzhen 5 program cost 2 billon U.S dollars to build. (Tu Yun, CRI news) The accounting system can only report incurred costs and the cost elements of the system costs are not clear. 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

What are the alternatives to determining the next or new system cost? 2/24/2019 What are the alternatives to determining the next or new system cost? Use prior system costs and extrapolate (analogy method). Attempt to determine the detailed cost elements of a system that may not be designed (bottoms-up estimate). Use a parametric cost estimating system to incorporate the best of both alternatives. The PRICE System Suite of parametric estimating systems is based upon your known rates and factors and proven detailed actual industry estimating relationships. 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

PRICE Suite of parametric models PRICE (H) Hardware Estimating Model PRICE (HL) Hardware Life Cycle Estimating Model PRICE (S) Software Development and Support Cost Model PRICE (M) Electronic Module and Microcircuit Estimating Model 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

How can the PRICE (H) Hardware Estimating Model help you? The PRICE H model is used to estimate costs, resources (labor and material) and schedules for electronic, electromechanical and structural assemblies (from small to large): Line replaceable unit (LRU): End product: Shenzhen 5 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

How can the PRICE (HL) Hardware Life Cycle Estimating Model help you? The PRICE HL model together with PRICE H produce comprehensive cost and schedule estimates from initial concept to multi-year production and deployment and support. 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

How can the PRICE (S) Software Estimating Model help you? PRICE S can estimates the entire life cycle of all types of software from business systems to command and control, avionics, and space systems . PRICE S estimates the entire software development process: 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

How can the PRICE (M) Electronic Module Estimating Model help you? The PRICE M model is used to estimate costs, resources (labor and material) and schedules for development and production of custom microcircuit chips and /or electronic modules. PRC manufactured chip: PRC manufactured (Shanghai) microcircuit: (Shijiazhuang) 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

How can a “foreign” based estimating system make sense in China? The PRICE parametric models can be calibrated (adjusted) for your specific situation and probably should be calibrated for on-going programs and if high accuracy (auditable) projection are required. You may not want to calibrate if you are estimating your sub-contract bids (you want to know what the sub-contracter bids should cost, not what they did cost). If you are setting engineering targets or are doing an independent estimate, or if you want to know what your competitors likely bidding price will be, then you may not want to calibrate (adjust) the PRICE models. In all cases you will want to use your country specific financial rates and factors and you will use you own engineering factors (unless you want to use PRICE’s). 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

Copyright 2004 RWF Consulting In summary: Using parametrics and the PRICE models can provide you with an accurate, unbiased, repeatable tool to estimate your hardware (and its logistics) with PRICE H and HL, your software with PRICE S and semiconductor chips and microelectronics modules with PRICE M. All of these models are integrated with Microsoft Excel and/or RDD-100 via PRICE Enterprise (E). 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting

Copyright 2004 RWF Consulting 谢谢 2/24/2019 3:16:49 PM Copyright 2004 RWF Consulting