From Product Description to Cost: A Practical Approach: Volume 2: Building a Specific Model (2006)


SKU: 9781846280429
Author: Foussier, Pierre Marie Maurice
Publication Date: 12/19/2005
Publisher: Springer
Binding: Hardcover
Media: Book
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Parametric cost estimating, when properly used, is a very powerful and cost effective technique. Unfortunately, this technique is often misunderstood and rejected by many potential users for whom it could be a beneficial tool. The development of an agreement on how to use it and how to recognise its limitations is a major benefit to the cost estimating community.

From Product Description to Cost: A Practical Approach:

– presents different ways of parametrically forecasting costs, and the advantages and disadvantages of these methods by using real examples from the mechanical, software and building industries;

– discusses most of the mathematical procedures which are useful for parametrically forecasting costs;

– introduces the judgement needed to audit the ways in which these forecasting techniques are used, firstly as a process, and secondly as a tool to generate estimates.

Volume 2: Building a Specific Model is divided into nine parts and focuses on the building of ‘specific’ cost estimating models. These models explicitly refer to a ‘product family’, and, as opposed to ‘general’ models, any company (if properly organised) can build these models. Understanding the procedures is key in creating successful specific models; for this reason all these procedures are fully described in this volume. Classical methods and new ones (such as the “bootstrap”) are described and illustrated.