• Predictive Analytics for Improved Cost Management  



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Can you provide a pointer to additional information regarding the ChiCoMo Model? Here’s an earlier webinar by our Chief Scientist: http://www.pricesystems.com/Resources/Videos/tabid/487/VideoId/23/language/en-US/Default.aspx To watch the "Best Practices using the TruePlanning Space Missions" Webinar, click here.
Whether a new cost estimator or a seasoned professional cost estimator, we all need to continuously seek to improve the credibility of our cost estimates.  I can think of no better reference to assess our cost estimates than the March 2009 Government Accountability Office (GAO) Cost Estimating and Assessment Guide.  The basic characteristics of effective estimating from the guide are listed below, were first published in 1972, and have stood the test of time as the yard stick for measuring the credibility of our cost estimates done for both government and industry. 1.       Clear identification of task ...
We’re often asked about how to model the cost impacts of various quality assurance standards like SEI Capability Maturity Model (CMM) and CMM-I for software, DO-178c and DO-254 for airborne software and electronics, various MilSpecs, and even process standards like ISO-9000.  As a result, we’re kicking off a study to create new and updated modeling guidance for use with our cost models. Many of these standards have significant overlap, and an implementation of one can give you a head start in implementing another.  For example, DO-178c and DO-254 are design assurance standards, which basically says that if you follow these ...
Introduction Recently a PRICE customer was interested in mapping TruePlanning projects to the Army’s Cost Element Structure (CES) and asked us to provide some help. The TruePlanning projects were completed so the next step was to pull the TruePlanning project and the Army’s CES into TrueMapper. The question was: where to find the Army CES in a form TrueMapper can digest. One option would have been to ‘hand jam’ the CES into Excel from the PDF based CES definition the customer provided. The Army CES isn’t enormous, but the effort would have been laborious and fraught with the potential for ...
Introduction: The goal of this blog is to show how data can flow between TruePlanning and ProPricer. This walkthrough is based on estimating a software application that will provide users the ability to track objects orbiting the Earth using a feed from some fictitious data stream. The benefit is the ability to get the labor requirement (effort in hours) estimated by TruePlanning into ProPricer in a seamless, easily repeatable process.   1. Create ProPricer Proposal for the Orbiting Body Tracking application The first step is to create a proposal in ProPricer with a WBS. Each task in ProPricer will have a set of ...
Original Post Date: Monday, August 18, 2014 I had the distinct pleasure last week of attending the 2014 NASA Cost Symposium.  While to the uninitiated this might sound like a bit of a snoozer – it was actually quite interesting and proved to be the source of a ton of valuable information.  The event took place at Langley Research Center in Hampton, VA – near Williamsburg, Newport News, and not too far from Virginia Beach.  My participation was somewhat self-serving in that I was there to talk about PRICE’s new Space Missions Cost Models for TruePlanning®.  This model – discussed ...
Original Post Date: Friday, July 25, 2014 July 2014 marked the 25th anniversary of Neil Armstrong’s historic stroll on the moon.  If you go to the NASA website and select Missions you’ll probably be amazed at the number of missions in NASA's past, present, and future.  Unless you’re living under a rock, you know about the International Space Station, and the Hubble telescope but I’m guessing there’s a lot about space missions that many of us are unaware of.  The Dawn spacecraft, which was launched in 2007 from Cape Canaveral, was sent into Space to help NASA scientists learn about the history ...
Original Post Date: Thursday, July 17, 2014 Introduction Parametric cost estimates provide high quality, defendable estimates early in a project’s life cycle. This makes them ideal when producing bid and proposals. The nature of parametric cost estimates, however, requires the results of the estimate to be framed in terms of specific CERs and Activities and Resources. It is common for an organization to have a more granular set of Resources than the ones used to support the CERs. One approach to resolving this issue would be to use the TrueMapper application from PRICE Systems to map TruePlanning Resources to a more ...
Original Post Date: Thursday, July 10, 2014 Introduction TruePlanning provides a powerful and highly customizable reporting environment. Project data can be viewed from many different perspectives and those perspectives can be saved and reused across all projects. Results can be exported to Excel and Word as custom reports. There are, however, some instances where there is a need to get beyond the two axes used in TruePlanning’s reporting engine. This need is sometimes expressed by users preparing TruePlanning cost estimating project data for use in a bid or proposal. Perhaps the data needs to be split by phase and labor/non-labor over ...
Original Post Date: Tuesday, July 1, 2014 Whether you’re doing a software cost estimate to support a Bid and Proposal effort, a software valuation, should cost analysis, or to develop a detailed project plan, it is vitally important to understand the ‘size’ of the software you are estimating.  The problem with software size is that it tends to fall into the intangible realm of reality.  If you tell me you are building a widget that weighs 13 pounds, I can really start to get my head around the task at hand.  If I’m chatting about this with my European colleagues, ...