PRICE® TruePlanning Cost Estimating Framework

Integrate the value of multiple cost
models in one powerful system

Build Multi-Component Estimates Within One Framework

PRICE® TruePlanning is a cost estimating framework designed to reduce the time and expense required to satisfy credible, data-driven parametric estimating needs at all levels of an organization—executive, financial, and project/program estimating and management. It is the only cost estimating framework that can integrate multiple cost models—including hardware, software, IT, assembly, and program management costs—all within the same estimate.

The PRICE TruePlanning framework enhances the value of dozens of PRICE® Cost Models, enabling estimators to reap the benefits of faster, more insightful, more reliable parametric estimating:

  • Build estimates in hours or days, instead of weeks or months—reflecting 30-60% savings in cost and cycle time, as cited by PRICE Systems customers.
  • Simplify analysis of alternatives (AoAs), by comparing the impacts of multiple variables.
  • Provide a basis for program maintenance activities over the long term, for improved life cycle cost estimating.

PRICE TruePlanning also helps to refine the value of project cost histories within the parametric estimating process (through PRICE® TrueFindings) and supports the ability to integrate dynamic Work Breakdown Structure (WBS) and Cost Element Structure (CES) mapping (through PRICE® TrueMapper).

Harness the Ability to Build Better Estimates, the Way You Want Them

PRICE® TruePlanning benefits from decades of major project estimating experience in the most complex aerospace, defense, and security applications. It includes powerful features and advantages that empower you to build estimates according to your specific needs and preferences. In addition, TruePlanning cost estimating uses "discrete numerical values" for key cost drivers, correlated to historical data, to allow for more precise calibration than competitive alternatives.

  • A product breakdown structure for System of Systems (SOS) estimating unifies multiple components in a single framework, with parent-child file relationships that keep all systems, subsystems, components, and processes in one file hierarchy.
  • The ability to associate and view product breakdown structures, cost drivers and outputs in a single screen view simplifies the capacity to evaluate design tradeoffs across different project variables.
  • Additional program attributes create flexibility in organizing, analyzing, and managing cost estimating data and processes for greater insight—including search and mass-edit, year-by-year and total-life-cycle-cost viewing, ability to analyze views across multiple projects over time, and endless charting combinations to satisfy unique reporting needs.
  • TruePlanning also provides a series of Companion Applications that enable users to build custom applications that tap into the TruePlanning estimation engine and cost models. These include an Activity Mapper, an Excel® Solution bi-directional interface, Parametric Data Forms, a Sensitivity Analyzer, @Risk Integration, and Crystal Ball Integration.

Access Key Benefits Through the Latest PRICE® TruePlanning Capabilities

As a key component within the PRICE Estimating Systems Integration Framework, PRICE® TruePlanning empowers a variety of new capabilities for bolstering decision support and confidence in strategic budget/investment decisions.

  • The PRICE TruePlanning Framework incorporates dozens of compatible PRICE® Cost Models—including the latest hardware life cycle and electronic module and microcircuit cost models—as well as custom cost models base on customer-specific data and needs.
  • PRICE® TrueFindings is a new integrated knowledge management process that helps decision-makers refine the value of their own historical project cost data into findings that can be interjected into the PRICE TruePlanning estimating process for more refined insights reflecting past experiences.
  • PRICE® TrueMapper is a new capability that supports the TruePlanning Framework by providing dynamic Work Breakdown Structure (WBS) and Cost Element Structure (CES) mapping, for greater insight and comparison of detailed estimate analysis. 

PRICE® TruePlanning is the cost estimating solution that “makes more sense” than labor-intensive homegrown spreadsheets that make it easy to overlook an entry, or to miss an inaccurate calculation. (According to research cited in a recent Wall Street Journal MarketWatch article, more than 80% of all spreadsheets have errors.)

TruePlanning is a cost estimating framework built around a library of cost objects—activities, resources, input sheets, metrics, algorithms, etc.—that make it easy to “drag-and-drop” proven models into the estimate’s product breakdown structure. It utilizes more than 40 PRICE® Cost Models to generate reliable data-driven cost estimate findings for greater speed and confidence in estimating and decision making processes.

By systematizing relationships among numerous factors, PRICE TruePlanning provides both tactical and strategic advantages for buyers and sellers needing to budget or estimate complex concepts, systems, hardware, software, electronics, and IT projects.

  • Estimators define a functional breakdown of their project systems, subsystems, activities, and resources, and assign values for known parameters of their system design—including weight, design complexity, degree of new technology or new designs, etc.
  • PRICE TruePlanning calculates costs based on relevant cost models and client-defined parameters. Users with historical data from previous projects can use that data to fine-tune the PRICE Cost Models to reflect their way of doing business.
  • Decision-makers are free to test assumptions and compare the relative impacts of changing variable assumptions or specifications within the original estimating parameters.
  • In addition to initial estimates and alternatives, PRICE TruePlanning also offers multiple companion applications to extend its value for specific tasks—such as mapping activity costs to pre-defined work breakout structure (WBS) elements, analyzing cost impacts for incremental changes to any single input parameter, performing Monte Carlo uncertainty simulations, and more. 
  • TruePlanning offers an Excel® Solution—with pre-defined input sheets for the TruePlanning System, Assembly, Hardware and Software cost models—that makes it possible to send and retrieve data between TruePlanning and Excel spreadsheets for ad hoc analysis.  

Visit PRICE® Resources to view Video Tutorials showing how PRICE® TruePlanning works and how you can use it to accelerate resolution of your estimating needs, satisfy budget constraints, and gain maximum return from your investments and efforts.