2005 PRICE INSight
Virtual Cost Engineering Studio to Aid SMEs
PRICE Systems is partnering in a European Union (EU) initiative to launch an Internet-based cost estimating service called the Virtual Cost Engineering Studio (V-CES). Objectives are to help small to medium enterprises (SMEs) with business planning and cost management. However, the service stands to strengthen the competitive positioning of Europe's major OEMs and systems contractors as well.
"Through V-CES services, SMEs will expend less time and money to do accurate estimations," said Dale Shermon, coordinating member of the V-CES from PRICE Systems. "V-CES will also improve OEM-supplier integration by making best practices accessible to suppliers and fostering more holistic approaches to collaborative programs. Overall, V-CES will strengthen Europe's competitive positioning by enabling collaborative technologies and best practices methodologies to be shared through a virtual knowledge community."
V-CES will cater to the needs of planning and cost estimating professionals in SMEs with features such as:
- Powerful browser-accessible tools to assist development of timely, accurate cost estimates and enabling holistic, creative, resource efficient, and collaborative approaches to product development
- Training in all cost engineering techniques such as parametric, bottom up, expert judgment-based, and analogy-based cost engineering
- Best practices case studies of successful cost engineering approaches and techniques
- One-stop shop for publicly available information relevant to cost estimating, providing more insights for timely fulfillment of cost engineering tasks
- European virtual community for interacting with colleagues and experts, learning from others experiences and building professional relationships
- User-centric, multilingual, virtual working and learning environment
- Customisation to industry-specific requirements such as for aerospace, automotive, or semiconductor equipment
A consortium of companies that includes PRICE Systems in Europe will implement and maintain the service. Projections are that users will need 25% less time to do accurate estimations. As a result, their companies gain faster insights into true bottom line costs and thereby competitive advantages. Far greater benefits are envisioned from the knowledge sharing, collaboration, and streamlined development and manufacturing processes that V-CES will engender.
For more information on V-CES in Europe, visit: www.v-ces.com
Or contact:
Dale Shermon
Executive Consultant
PRICE Systems Ltd.
011-44-1256-744853
dale.shermon@pricesystems.com
