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Software > Integrated Approach

An Integrated Approach to Analytics for Better Cost Management

Overview

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®).

Leverage Your Data

Capture and Utilize Your Data with Confidence

Until now, mining the value in historical project data for use in cost estimating software was difficult to achieve. Today, PRICE ESI helps customers tap into that resource by applying the same disciplines used to develop the industry-recognized PRICE® Cost Models.

PRICE® ESI engagements offer advice and implementation services to facilitate data collection, cleansing, categorization, and normalization, enabling organizations to reflect their own historical project data within their estimates, with confidence equal to the credible, unbiased, data-driven decision-making provided by PRICE® Cost Models.

Integrated Knowledge Management

Leverage Actual Insights Representing Your Own History

Integrated knowledge management, provided through PRICE® TrueFindings®, takes the refinement of private historical data one step further by enabling the inclusion of your findings into the PRICE® TruePlanning® cost estimation framework. The insights of that in-house data can also benefit life cycle cost management plans.

Just as the PRICE® Cost Models provide the benefit of past experience refined from tens of thousands of projects, PRICE TrueFindings provides the value of historical experience and trends from your own organization within your cost estimation process. Doing so improves confidence in capacity analysis, supplier assessment, and risk analysis for better budgeting, financial control, and procurement.

Estimate Comparison

Compare Top-Down and Bottom-Up Estimates

Providing a comparison between top-down and bottom-up estimating adds confidence to financial decision-making by highlighting differences in cost estimating results generated by different methodologies. You can use it to compare internal budget estimates vs. contractor estimates, or to evaluate the characteristics of homegrown spreadsheet estimates against the comprehensive methodology of a standardized cost-estimating framework.

Using PRICE® TrueMapper® to map and shred estimates to the preferred formats makes it easier to compare top-down and bottom-up estimates—element for element. It maps the Work Breakdown Structure/Cost Element Structure so that you can identify, analyze, and resolve variations across the different approaches.