• Predictive Analytics for Improved Cost Management  



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Original Post Date: Monday, April 16, 2012 This year, the PRICE cost research team is kicking off a major research study on electronics.  The field of electronics changes very rapidly, and we want to ensure our estimation methods are well suited for the latest technology.  While we constantly collect data and update relationships, this study will go above and beyond the norm.  We'll visit modern electronics facilities, interview experts, visit customers to discuss their electronics estimating challenges, and start a major data collection and analysis effort.  In the end, we plan to add many new electronic classifications, reexamine our ...
Original Post Date: Thursday, April 5, 2012  Introduction The previous blog covered getting started with the TruePlanning API using VBA. Now it is time to tackle collections. Collections in the TruePlanning API are simply objects that hold a list of objects where all the objects are of the same type.  For example, the Project object contains a collection of the Cost Objects that belong to the project.  In order to use the TruePlanning API, mastering collections is essential, but “mastering” is a bit strong a word given that they are easy to use. By the end of this blog TruePlanning API ...
Original Post Date: Monday, April 2, 2012 In my previous blog, I introduced the relationship between three “breakdown structures” commonly used in project management, and how cost estimates are linked to them and aid in their usefulness.  In this blog, I’ll dig further into these relationships, and explain their impact on my Total Ownership Cost (TOC) solution in TruePlanning.   Let’s use an example of an aircraft being built for the Army.  In this hypothetical example, the prime contractor is Boeing, and they have different departments working on various parts of the aircraft.  Department 10 is responsible for the wings and ...
Original Post Date: Thursday, March 29, 2012 Introduction The new TruePlanning COM Application Programming Interface (API) found in the 2012SR1 release of TruePlanning provides a powerful mechanism for leveraging the power of TruePlanning within custom solutions. Through the COM API TruePlanning projects can be created, updated, calculated and saved allowing for near limitless potential for integration with TruePlanning.  That said it is an “API” which means some programming will need to be done. This discussion is focused on how to get started using the TruePlanning COM API. Development Environments The TruePlanning COM API is written in C++, but is available to any programming ...
Original Post Date: Monday, March 26, 2012 In my research on project management and cost estimation, I often come across three different “breakdown structures” which are useful in dissecting a project from various points of view.  The work breakdown structure (WBS) is oriented around project deliverables; it breaks a system down into subsystems, components, tasks and work packages.  The organization breakdown structure (OBS) shows the structure of the organizations involved in the project, including how these organizations break down into sites, divisions, teams, etc.  Finally, the cost breakdown structure (CBS) examines a project in terms of useful cost categories, ...
Original Post Date: Thursday, August 11, 2011 A Bell 430 Helicopter's rear blade spins 1884 times per minute; how many times for the main blade?  Submit your estimate in the comments section!
Original Post Date: Wednesday, July 20, 2011 How many golf balls would it take to circle the Earth at the equator?  Submit your estimate in the comments section!
Original Post Date: Tuesday, June 21, 2011  What percent of active U.S. military personnel are from the Marine Corps?  Submit your estimate in the comments section!
Wednesday, June 8, 2011  What is the fuel capacity (in gallons or liters) of a Boeing 737 jet?  Submit your estimate in the comments section!
Original Post Date: Tuesday, April 19, 2011 Happy Easter!  What is the weight of the world's largest jellybean?  Submit your answer in the comments section!