• Predictive Analytics for Improved Cost Management  



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Original Post Date: Tuesday, August 12, 2008 I frequently attend trade shows and conferences focused on software development and/or cost estimating.  These shows provide a great opportunity for me to perform informal, unscientific surveys of the state of the software estimating discipline.  When queried on software estimating practices, more than half of those surveyed indicate a method that significantly resembles some attraction at a local carnival.  To the follow up question of “How’s that working for you?” the reply is almost always as expected – “Not too well”. As an industry we have failed pretty miserably at institutionalizing software estimating ...
Original Post Date: Friday, August 1, 2008 Whether you are pricing a competitive bid, or you are trying to get a new product to market, estimating accuracy will determine your success or failure.  When pricing a competitive bid, you first want to “ghost the competition” to determine a price-to-win.  Parametric estimating models allow you to quickly estimate the cost of recently priced items from your competition to determine their bidding margins and target a likely price-to-win for a new competition.  I recently worked with one of our clients who has an extensive database of competitive bids from which he can determine ...