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About Us >Newsroom > PRICE and QinetiQ Launch New Cost Model Software

PRICE and QinetiQ Launch New Cost Model Software, QinetiQ FACET for TruePlanning

QinetiQ FACET for TruePlanning

Mt. Laurel, NJ / November 30, 2017 / 

PRICE® Systems, the pioneer in the science of parametric estimating and predictive cost analytics and developer of PRICE TruePlanning®, the global standard for accurate cost estimating, has recently announced the addition of a new family of cost models, QinetiQ FACET for TruePlanning, to its portfolio of predictive cost analytic models with UK-based partner, QinetiQ.



First launched in September at London’s Defence and Security Equipment International (DSEI), QinetiQ FACET for TruePlanning is a unique suite of cutting-edge cost models that are the result of a 12-month internal research and development project. The QinetiQ FACET models have been newly hosted in the TruePlanning cost estimation system, a powerful implementation of predictive cost analytics encompassing proven processes, automation software, predictive models, and support.

QinetiQ FACET for TruePlanning boasts algorithms based on international data spanning all domains for quick and easy cost exploration and is available to PRICE Systems customers through the collective expertise of QinetiQ and PRICE and their exceptional partnership. PRICE is the exclusive global reseller of QinetiQ FACET for TruePlanning.

President of PRICE Systems Anthony A. DeMarco said of this new addition to the PRICE family of products and services, "The implementation of FACET into the TruePlanning cost estimation system provides added value to customers who can now focus on the system level, in addition to the subsystem level of a project in their estimates."

QinetiQ FACET for TruePlanning consists of more than 50 cost models compatible with pre-concept and concept phase budget configurations and aids in project life cycle alternative analysis, independent cost estimating, and investment balancing. The models enable users to generate whole life costs at an early stage to quickly make informed strategy and policy decisions when credible cost and schedule estimates are critical.

Conceived in the 1980s and relied upon by many QinetiQ clients today, the QinetiQ FACET algorithms have been translated and hosted in the TruePlanning cost estimation system to increase their delivery capability. In addition to these models, PRICE’s TruePlanning estimation system hosts more than 150 integrated predictive and customer-specific models focused on cost estimation, cost budgeting, and cost control.

For more information about QinetiQ FACET for TruePlanning, please visit pricesystems.com.

About PRICE® Systems

PRICE Systems provides more than 40 years of cost estimating software expertise across a wide variety of market applications and business needs—from aerospace and defense program planning and budgeting to design studies, bids, and proposals for new hardware, software, and microelectronic components.  Today, PRICE cost models developed from more than 21,000 projects, plus ongoing PRICE research into refining how those models reflect realistic costs, and PRICE frameworks for integrating client-specific cost histories into new estimating efforts, put PRICE Systems at the forefront of cost estimating and cost management solutions.