• Predictive Analytics for Improved Cost Management  



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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: 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 ...
Original Post Date: Friday, June 10, 2011 I’m on my way home from the ISPA/SCEA (International Society of Parametric Analysts, Society of Cost Estimating and Analysis) Conference held in Albuquerque this week.  Attendance was very good (2nd best in the conferences history) and as the content seemed especially good this week.  I attended lots of good talks on topics ranging from SEPM (System Engineering, Project Management) cost estimating, Joint Confidence Levels, Software Estimating, Affordability,  Agile software development and estimating for Enterprise Resource Planning Systems.   Of course, just because the topics are good and well presented doesn’t mean I have ...
Original Post Date: Wednesday, May 25, 2011  Going to ISPA SCEA in New Mexico?  If so, join us for a workshop on data driven cost estimating.  Description:  Building transparency and traceability into your estimating process leads to more defendable estimates.  This hands-on workshop demonstrates how historical data is transformed into predictive models.   You will learn how your organization’s data can be synthesized into custom models that can be employed in support of third party models within a single analytical framework.  Participants will learn:  (1)   To develop system level estimating relationships to provide a test of reasonableness and historical cross-check to proposed estimates. (2) To develop ...
Original Post Date: Thursday, May 19, 2011 I was recently asked by a client to provide a synopsis of what TruePlanning offers in response to the Ashton Carter Memorandum – Implementation of Will-Cost and Should-Cost Management. In the memo, the Undersecretary of Defense AT&L listed “Selected Ingredients of Should Cost Management”. It was interesting to note how much capability is provided by TruePlanning to effectively support efficient should cost management. In this month’s blog, I will share with my response to our client with you. ...
Original Post Date: Wednesday, May 18, 2011  Parametrics is more than estimating. It represents the complete process of capturing and utilizing (often with calibration) non-cost drivers, as well as associated programattics and configuration levels. The Wiki definition of systems engineering immediately speaks to project complexity, life cycle management, and logistics. Any question that parametrics and systems engineering are interrelated?  In many of our customer organizations, affordability and cost-benefit analyses have migrated to system engineering functions. How and where does your organization perform these analyses?  As we enhance our capabilities and applications, it’s beneficial for all concerned to understand your adaptation of parametrics within the core ...
Original Post Date: Thursday, April 7, 2011 The following is a collection of some of the more common installation issues.  If you have additional questions, concerns, or issues with any upgrade or installation, please call our Technical Support line anytime at:  1-800-43-PRICE. Default Password Override TP’s default password may not be strong enough based on your security policy.  Please review your specific requirements for passwords and follow the directions below to change the default:  When you get to the screen, uncheck the “Use Default Password” and enter a valid password based upon your specific security settings.  Then click next and continue the ...
Original Post Date: Tuesday, April 5, 2011  In 1961 at the MIT Centennial, John McCarthy opined “if computers of the kind I have advocated become the computers of the future, then computing may someday be organized as a public utility just as the telephone system is a public utility…. the computer utility could become the basis of a new and important industry”  [1].  In 2006, Amazon Web Services was launched providing computing on a utility basis.  Since that time the notion of cloud computing has been emerging and evolving. Cloud computing is a paradigm that makes the notion of utility ...
Original Post Date: Wednesday, March 16, 2011 True Planning results have many options, including viewing Costs by Activity. While simple, this view can be quite powerful, especially when exported for re-organization manipulation.  In a recent exercise, the WBS mapping of common objects, estimated by separate multiple scenarios, presented a non-trivial chore in Excel. “Transposition” features work fine for matrices, as do pivot tables. But how does one map object by activity grids into activity lists, similar to MIL-STD 881a, with singular “roll up” instances of all nonzero object costs?  The secret is in how True Planning appends each activity output with the [object] tag. Once exported ...