• Predictive Analytics for Improved Cost Management  



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Original Post Date: Friday, September 2, 2011  The IEEE published “Top 11 Technologies of the Decade” in the  January 2011 editions of the IEEE Spectrum magazine.  It should come to a surprise to no one that the Smartphone was number 1 on this list.  The answer to the author’s question “Is your phone smarter than a fifth grader” was a resounding YES![1]   In 1983 Motorola introduced the first hand hell cellular phone.  It weighed in at two and a half pounds, had memory capacity for 30 phone numbers, took 10 hours to recharge and had a selling price of $4000 ...
Original Post Date: Thursday, August 25, 2011  Check out this Report on Big Data from McKinsey & Company published in June 2011.  Back in the day, when personal computers were becoming widely accepted and Microsoft Windows© was the new cool thing, SneakerNet was a common means of sharing data.   Certainly the introduction and subsequent improvements of networking technology and the Internet have made data sharing a whole lot easier and quicker.  But the concept of Big Data creates a whole new level of opportunity and potential for collecting and using data in ways heretofore unthinkable. So what is Big Data?   According ...
Original Post Date: Monday, August 8, 2011  PRICE Systems is involved with the formulation of the total Life Cycle/Whole Life of systems of systems and is asking the question, "Is the META 'V' on the right track?" INCOSE is considering the total life of the system, the traditional Development Engineering V must be expanded to account for the life of the system beyond Initial Operational Capability.  In this writer's opinion, we have to extend the development V to account for this with this Meta-V concept.  The Affordability Working Group recognizes that IOC is:  The initial release of both the Primary and Enabling ...
Original Post Date: Monday, August 1, 2011 After many years of working with systems engineers and design engineers it became apparent to me that the cost of the system they were designing / building mostly seemed to be an after thought. Maybe not by the Lead Systems Engineer or Program Manager but certainly down in the trenches. The engineers working at the subsystem, component, and element levels always expressed frustration with having too much to think about to add one more variable, such as cost estimation, to their work load. I posit that this can no longer be the case. In ...
Original Post Date: Friday, July 29, 2011 PRICE Systems is integral in the INCOSE Design for Affordability Initiative as a vital member of the Working Group Internationally. The INCOSE Affordability Working Group’s definition of Affordability is: Affordability is the balance of system performance, cost and schedule constraints over the system life while satisfying mission needs in concert with strategic investment and organizational needs. The INCOSE Affordability Working Group’s definition of SE Design for Affordability is: Design for Affordability is the Systems Engineering practice of balancing system performance and risk with cost and schedule constraints over the system life satisfying system operational needs in ...
Original Post Date: Wednesday, July 27, 2011 Open Source software is software that is distributed publicly with all of its source code.  Users of open source software are encouraged to review the source code, make changes to it and share those changes with the rest of the user community.  The value in open source is that providing the source code to the user community allows those in the community who are willing and able to make improvements, add features, and fix bugs. Open source takes the notion of peer review to the next level.   It means that instead of ...
Original Post Date: Tuesday, July 12, 2011 Check out this article from CIO magazine about managing your project budget.   The author, Jason Westland, suggests four things necessary to maintain control of your project budget.  While these are not earth shattering suggestions, sometimes project managers in the throes of a project can lose sight of their importance.  The strategies are: * Continually forecast the budget * Regularly forecast resource usage * Keep the team informed * Manage scope meticulously Or to put it another way – respect and revisit the Project Management Triangle.  (To learn more about the Project Management Triangle go to this ...
Original Post Date: Monday, July 11, 2011 There is a ton of code out there and we’re constantly adding more.  Gartner reported in 2009 that there were more than 310 billion lines of code in use worldwide. MS Word has grown from 27,000 lines of code in the first version to about 2 million in 2010.  The Windows Operating System grew from 3 million lines of code in 1992 to 20 Million in 1998.  You get the point – there’s lots of code out there doing lots of the same things that we may want our software to do. One ...
Original Post Date: Friday, June 17, 2011  Building transparency and traceability into your estimating process leads to more defendable estimates and we can help you do that. We will demonstrate how historical data is transformed into predictive models.   You will learn how your data can be synthesized into custom models that can be employed in support of third party models within a single analytical framework. Learn more at our webinar on June 29th @ 11am Eastern.  Reserve your no-charge; no obligation webinar seat now at: https://www2.gotomeeting.com/register/372682434
Original Post Date: Wednesday, June 15, 2011 At the 2011 ISPA Conference, I conducted a ½ day workshop How To Develop Data-Driven Cost Estimating Relationships  in TruePlanning. The attendees at the workshop learned how to import their own data into TruePlanning and develop custom Cost Estimating Relationships. We covered three case studies:   ·         In the UCAS case study we demonstrated how we can build CERs at a higher level to provide a test of reasonableness to the CAPE. ·         In the SRDR case study we demonstrated how we develop a CER to estimate SLOC based on historical data and use the results ...